News: Brokerage

Warren of Kaufman Org. brokers 4,500 s/f lease

The Kaufman Organization brokered a five-year lease for Allan Schiller & Associates, PC. According to Elliot Warren of Kaufman, who represented the tenant, the company signed a lease for 4,500 s/f of office space, the entire 25th floor, at 130 West 42nd St. Nicholas Ghattas of American Properties, Inc. represented the landlord. The tenant's new office space features full city views of Times Sq. "Allan Schiller and Assoc., PC is another example of a company that is taking advantage of the great value in today's market," said Elliot Warren of the Kaufman Organization. "At Kaufman, we have seen the latest trend of outer-borough companies not renewing their leases and moving back into Manhattan to be closer to clients." Built in 1918, the 32-story, 231,000 s/f landmark office building is located in the heart of Times Sq. The building features 24-hour on-site security and management, quick access to transportation with an entrance to Port Authority Terminal and all major subway lines. Current, neighbors in the area include Condé Nast, Ernst & Young, Reuters and Skadden Arps.
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SABRE coordinates sale of six properties totaling 199,845 s/f

Huntington, NY SABRE Real Estate Advisors has completed the sale of six commercial properties across Long Island and Northern New Jersey, further underscoring the firm’s strength as a trusted partner in complex real estate transactions. The deals were led by executive vice presidents Jimmy Aug and Stu Fagen, whose combined expertise continues to drive exceptional results for clients across the region.
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Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and an increased number of loan restructurings will be well received by the commercial real estate industry. Over the past 12 months there has been a negative trend for NOI for many properties across the country.