Real Estate Weekly
Image default
Deals & Dealmakers

Borough President: Bronx not the same as it was

Over 250 property owners, managers and real estate professionals gathered at Club 101 for Ariel Property Advisors’ semi-annual Coffee & Cap Rates event.

Entitled “The Borough Presidents Forum: An Inside Look At The Outer Boroughs,” the event was headlined by a discussion led by Shimon Shkury, president of Ariel Property Advisors, with Borough President Eric Adams of Brooklyn and Borough President Ruben Diaz Jr. of the Bronx.

The program began with a presentation, given by Shkury, about trends and overall performance of the New York City investment sales market in the first half of 2015.

After the overview, audience members were afforded the opportunity to ask the borough presidents questions and exchange in an open dialogue about the current state and future of the Bronx and Brooklyn.

During the course of the 45 minute panel, the borough presidents inspired lively banter between themselves and with the audience.

Borough president Diaz began by urging the audience to “think differently about the Bronx,ˮ and went on to say, “We are not the Bronx of the 70’s, 80’s or early 90’sˮ and  pointed out the borough has received $8 billion in private investments in the six year since he became Borough President.

Borough President Adams was optimistic when speaking about the East New York rezoning and other opportunities in Brooklyn.

He specifically mentioned Atlantic Avenue as a prime area to be rezoned, and stayed true to his coined catchphrase “build baby, build.”

James O’Neal, executive director of the Legal Outreach, shared the goals and objectives of his nonprofit, which helps young people from underserved New York City communities gain admission to the country’s most competitive colleges.

Four students involved with Legal Outreach also addressed the audience to discuss their experiences interning for Ariel s as well as their plans for the future. All funds raised in conjunction with the event are matched by the company and donated to Legal Outreach.

Related posts

Avison Young arranges 99-year ground lease for an estimated $21.5 million


Rosewood Realty Group Brokers $36.5 Million Sale of 15-Story Hells Kitchen Mixed-Use Building


Miller Construction Begins Work on an 80,000-Square-Foot Build-to-Suit Industrial Warehouse in Orlando