News: Spotlight Content

Thornton Tomasetti wins ACEC New York Platinum Award

Thornton Tomasetti, Inc., a leading building engineering and design firm, has received the American Council of Engineering Companies (ACEC) New York Platinum Award for Structural Systems for its work on The Prudential Center. Thornton Tomasetti was selected as the engineer of record for the structural design of The Prudential Center, the new $310 million sports and entertainment facility recently opened in downtown Newark. The new arena encompasses 858,000 s/f with a footprint of approximately 475 ft. by 600 ft. Opened in October 2007, the Prudential Center is the first major indoor professional sports and entertainment venue to be completed in the metropolitan New Jersey/New York area in 25 years. It will be the centerpiece of a larger redevelopment program that is expected to revitalize downtown Newark. The National Hockey League's New Jersey Devils, who are the primary user of The Prudential Center, retained HOK Sport Venue Event as the project architect of record. HOK chose Thornton Tomasetti to provide structural engineering services for the development, as well as Morris Adjmi Architects as the exterior design architects and Langan Engineering & Environmental Services, Inc. as the geotechnical engineers. Close and intense coordination of project team members was an important factor in the successful completion of the project.
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Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
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Columns and Thought Leadership
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.