Category : Featured

Banks cutting branches as operations go online
FeaturedRetail

Banks cutting branches as operations go online

REW
by REW2067
Cashing a check may soon become a more complicated proposition. This is because major banks are growing leaner by the quarter, trimming branches as tellers and ATMs face an existential threat. The closing of branches come as large banks implement cost-cutting measures that include removing thousands of employees from their...
Unions ready to mix it up to help manage costs
Deals & DealmakersFeatured

Unions ready to mix it up to help manage costs

REW
by REW850
During the Sky High Costs in Building Boom: the Future of Construction in NYC panel at last week’s ULI conference, Gary LaBarbera, president of the Building and Construction Trades Council of Greater New York stressed that maintaining a union-driven workforce benefitted both developers and workers. “We support our unionized contractors,...
Rental builders feel financing squeeze over 421-a expiration
Deals & DealmakersFeatured

Rental builders feel financing squeeze over 421-a expiration

REW
by REW1980
Two weeks after the expiration of the 421-a tax program, the effects of its demise are starting to be felt, and developers claim that it has put the squeeze on an aspect of their business that’s been running smoothly for the past few years. “Yields on new development rentals are...
Report: DoF mistakenly gave away $10M in tax breaks to corporations
Deals & DealmakersFeatured

Report: DoF mistakenly gave away $10M in tax breaks to corporations

REW
by REW1419
The city’s Department of Finance mistakenly gave away $10 million in property tax breaks to corporations over the past four years, according to a report from New York City Comptroller Scott M. Stringer. “The City handed out millions in tax abatements to corporate-owned condos, parking spots and cabanas because no...
Brooklyn market expected to dip as 421-a tax program expires
Deals & DealmakersFeaturedHeadline

Brooklyn market expected to dip as 421-a tax program expires

REW
by REW1554
Commercial property sales in Brooklyn were incredibly robust in 2015, rising to around $9.5 billion in total dollar volume, according to one market study by Brooklyn-based commercial real estate firm, TerraCRG. Nearly all of the top five commercial sales in Brooklyn last year were along the Williamsburg waterfront, including the...
Deals & DealmakersFeatured

IN PHOTOS: The 120th Annual REBNY Banquet

REW
by REW1289
Real estate’s finest, along with City and State dignitaries including Governor Andrew Cuomo and Mayor Bill de Blasio, showed up in force last night at the Real Estate Board of New York’s (REBNY)overwhelmingly successful 120th Annual Banquet held at the New York Hilton. The momentous evening honored the legacy of...
FeaturedResidential

Partners at starchitect Bob Stern’s firm talk about their new book

REW
by REW2474
The team behind some of New York City’s most talked-about buildings is behind one of New York City’s most talked-about architects – Robert A.M. Stern. Stern, the venerable architect who founded his firm, Robert A.M. Stern Architects (RAMSA) in 1977, has since grown the company to more than 300 employees....
Featured

JLLʼs Stobetsky serving as conduit for foreign biz

REW
by REW2216
Unlike most new converts to residency in New York City, Valentin Stobetsky has been able to sidestep the difficulties of moving to one of the most hectic cities on the planet. Stobetsky, who recently relocated from Moscow after being named as the new managing director and the head of the...
Deals & DealmakersFeatured

Real estate honors its industry leaders

REW
by REW1188
For the first time ever, the Real Estate Board of New York will honor an entire family for its contribution to the city’s real estate industry. The late Matthew Stacom and his daughters, Tara Stacom and Darcy Stacom, will receive The Bernard H. Mendik Lifetime Leadership in Real Estate Award...
Deals & DealmakersFeatured

Invesco Real Estate pays record $25,000 per s/f for Soho retail space

REW
by REW1612
Invesco Real Estate paid $112 million — nearly $25,000 psf — for a 4,500 s/f retail condo at 139 Spring Street in Soho. Majestic Acquisitions, LLC, a privately-owned real estate firm based out of New York City, announced the sale. The seven story-story pre-war boutique loft building, which houses Chanel...