News: Brokerage

Thru the Lens: Emerald Creek Capital awards local student with scholarship

Emerald Creek Capital, an institutionally backed private investment firm that manages debt funds has just presented its annual scholarship award to Kelly Pellegrino. Pellegrino will receive $10,000 towards her college tuition at Cornell University. "Kelly's accomplishments are impressive," said Mark Bahiri, a co-founder and managing partner at the firm. "As a member of the Bronx High School of Science Arista program Pellegrino proved to be quite an accomplished student displaying a strong desire to understand the world around her." As one of her many extra-curricular activities, Pellegrino was retained by The Cambridge Business Institute after writing a proposal on training and certifying unemployed workers as a means to lower unemployment. Her proposal has recently been implemented by the Institute. In addition, Pellegrino has actively conducted research at New York University. Under the supervision of Dr. Brice Kuhl, she participated in a study on memory cells and the circumstances under which they are most accurate. Mark Penna, a co-founder and managing partner at the firm said, "We are proud to award Kelly with this scholarship and we believe she will continue to achieve great success and help the world around her."
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REALM, DelShah Capital and A.M. Properties acquire 377,000 s/f CitySpire office condominium

Manhattan, NY REALM, in partnership with DelShah Capital and A.M. Properties, acquired  CitySpire, a 377,000 s/f office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown. Adjacent to Central Park with transit access and amenities, CitySpire is a Class A office asset located in one of the city’s most sought-after office corridors.
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A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking