News: Brokerage

Turner named construction mgr. for $165m GE Healthcare facility

Turner Construction Company has been selected to serve as the construction manager and provide preconstruction services for a $165 million digital x-ray detector production facility for General Electric Healthcare in the Rensselaer Technology Park. Completion is scheduled for December 2008. The facility will produce state of the art digital x-ray mammography machines. The building will consist of a total area of 150,000 s/f, of which 60,000 s/f will be clean room space. This project marks the continuation of a working relationship that began in 1913 with the construction of a factory for General Electric in Pittsfield, Mass. Throughout the resulting years, Turner constructed many additional projects for the company, including its 500,000 s/f headquarters in 1971 in Fairfield, Conn. "Turner is honored to continue our relationship with General Electric and to manage the construction of this important facility to help GE achieve their business objectives. Our partnership with General Electric is very important to us and we are very appreciative of the company's continued confidence in our company and staff," said Mark Breslin, VP and general manager of Turner's Albany office.
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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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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 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.
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
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