News: Brokerage

Westchester Bank elects Reisman, Arden and Cunningham to board of dirs.

The Westchester Bank has elected three business leaders to serve on its board of directors: Eugene Reisman, Peter Cunningham and Howard Arden. Reisman is COO and managing member of the real estate law firm of Novick, Edelstein, Lubell, Reisman, Wasserman & Leventhal, P.C. Reisman was licensed as a CPA in 1976 and was admitted to practice law in NYS in 1977. He is admitted to practice law before the U.S. District Court for the southern and eastern districts of N.Y. and the U.S. Tax Court. He is a governor of the Bronx-Manhattan North Association of Realtors and a director of the Bronx Realty advisory board. Cunningham is president and CEO of Dover Garage II Inc. and its affiliate, The Dover Group Inc. Previously, he served for a decade as VP of Glenties Leasing Corp. He serves as president of the board of managers of The Kimberly Condominium. He also serves on the alumni executive board of Texas Christian University where he earned an MBA degree from The Neeley School of Business. Arden is president of Arden Business Systems, Inc., an office products company he founded in 1986. He is founder and president of the Friends of Muscoot Park, a 777-acre county park in Somers. He serves as chairman of the Muscoot Park advisory board, chairman of the North Castle Open Space committee and treasurer to the board of trustees of The Friends of Westchester County Parks. He holds a masters of Public Administration form N.Y.U. and a bachelor's degree in Political Science from Methodist University in Fayetteville, N.C.
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Columns and Thought Leadership
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
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