News: Brokerage

Zaxis Architectural, P.C. designs $10 million Buffalo Public School renovation

On June 14, Buffalo Public School superintendent, Dr. James Williams, presided over the grand re-opening of Buffalo Public School #54, the George E. Blackman School of Excellence. Zaxis Architectural, P.C. in concert with program manager, LPCiminelli, Inc. and the Buffalo Board of Education designed the $10 million renovation and addition project as part of the Buffalo Public Schools Phase IV reconstruction project. The original building, a two-story structure built in 1964, offered 71,000 s/f of academic space. Zaxis architects designed a two-story addition of over 9,000 s/f to the buildings' main entrance which made use of the site's open front yard allowing the building to become prominent and relevant within its neighboring urban context. The existing building was reprogrammed and renovated to incorporate additional classroom and special education spaces as well as a new library, computer room, music room, art room and cafeteria which can accommodate 180 students. The main administrative office was relocated and redesigned to improve accessibility and security which included new surveillance and alarm technologies. In addition, all classrooms were designed to receive technology improvements which included the installation of interactive smart boards, classroom computers and fixturing, which is part of the District Wide Technology improvement program.
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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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Columns and Thought Leadership
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
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.