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REBNY Watch »

[29 Oct 2014 | No Comment | ]

By Steve Spinola
It gives me great pleasure to announce this week that The Real Estate Board of New York (REBNY) has welcomed our 16,000th member, this marks a significant milestone for our organization and caps a period of steady growth and influence over the years.
The journey to 16,000 members has been a gradual process since 1896 when a group of 27 commercial brokers began holding weekly meetings at an office on Liberty Street. In 1986, when I became REBNY President, there were just over 4,000 of us.
I would like to …

Opinion, Retail »

[22 Oct 2014 | No Comment | ]

By Faith Hope Consolo, chairman, The Retail Group,
Douglas Elliman Real Estate
The tech giants are coming. Within less than two weeks, Microsoft announced that it would open a Fifth Avenue flagship store just blocks from Apple’s iconic location on the avenue, and Amazon said it would open a pop-up shop on West 34th Street, steps from Herald Square and the Empire State Building.
Microsoft has been opening stores around the country (it should have nearly 125 by year-end), so it was simply a matter of time before it found the right location …

Opinion »

[22 Oct 2014 | No Comment | ]

By Sarah Berman,
executive director,
Avenue of the Americas Association
The Avenue of the Americas has experienced a major shift from the traditional “corporate corridor” to a true New York City neighborhood, favorable for many traditional corporate tenants to expand their businesses as well as a diverse array of new tech, media and creative uses.
In recent years, the Avenue has welcomed many new media tenants such as BBDO, Sandow Media and Grubhub/Seamless and has provided flexible layouts and modern amenities to these tenants who often seek a 24/7 “live, work, play” environment …

REBNY Watch »

[22 Oct 2014 | No Comment | ]
Vanderbilt Avenue rezoning and developments good for New Yorkers

By Steve Spinola
On Monday, the City Planning Commission certified applications that will start the public review process for the rezoning of the Vanderbilt Avenue corridor. This rezoning will ensure that the area maintains its status as a global business center.
The anticipated new office developments will not only create the modern office spaces that tenants demand, but it will also generate thousands of good paying middle class jobs.
The plans for Midtown East will have a real impact on New Yorkers from every corner of the city—not just those who work or …

Construction & Design, REBNY Watch »

[15 Oct 2014 | No Comment | ]

By Steven Spinola
Next month, the state will enact some important changes to the approved methods of testing for vermiculite which will continue to protect the public’s health and safety and avoid costly testing.
These changes are the result of the close collaboration of government officials, the world’s most respected scientists in the area of vermiculite and members of our industry.
Vermiculite is a mineral found in sheet rock, insulation, and other building materials and was commonly used for fire protection on structural steel buildings, once the danger from asbestos was recognized and …

REBNY Watch »

[9 Oct 2014 | No Comment | ]

By Steven Spinola
The Durst family made headlines recently when they announced plans to create a new residential development on the Queens waterfront.
This new complex will be located in what is now an isolated and underutilized section of Astoria known as Hallets Point.
The project will include seven apartment buildings with more than 2,000 apartments for residents of varied income levels, a public esplanade, a school, and a supermarket.
Hallets Point marks one more step forward in an entirely new vision for the Queens waterfront.
Just next door, at Astoria Cove, plans for 1,700 …

Featured, REBNY Watch »

[2 Oct 2014 | No Comment | ]
REBNY: Pied-a-terre tax would be a big faux pas for industry

Last week, The Fiscal Policy Institute and State Senator Brad Hoylman separately announced a proposal to tax non-primary resident owners of condo and co-op apartments and Class 1 properties (1-3 family homes) in New York City with a market value of $5 million or more.

REBNY is vigorously opposed to this proposal and says it will continue to express its serious concerns about the impact of the proposal on the industry and city.

Opinion, Property Managers »

[24 Sep 2014 | No Comment | ]

By Ian Marlow, CEO of FITECH,
It’s no secret that leases require a lot of administrative details and attention, which can sometimes hamper efforts to maintain strong occupancy rates and revenues. Issues such as lease renewals, notification dates, and tenant or landlord obligations may be inadvertently overlooked; files might be hard to locate; and employee attrition and departments accustomed to working separately (without technology integration) can all chip away at productivity and profits.
However, real estate investment and property management firms can build a stronger administrative structure by implementing industry-specific software that …

REBNY Watch »

[24 Sep 2014 | No Comment | ]

By Steven Spinola
If Horace Greeley were around today, urging folks to “Go West, young man” these days he would be talking about exploring the West Side of Manhattan over the Western United States.
It is fitting then that Greeley Square sits just east of the largest development in the history of the United States between Broadway and Sixth Avenue on 33rd Street. An entirely new neighborhood is taking root on Manhattan’s far West Side. Add in the High Line, the Whitney Museum, and the number 7 subway line, it seems everything …

Opinion, Retail »

[17 Sep 2014 | No Comment | ]

By Faith Hope Consolo
Chairman, The Retail Group,
Douglas Elliman Real Estate
After one of the most beautiful summers I can recall, everyone is now facing the most important time of year (at least in my beloved retail sector): the fourth quarter.
As I write this in early September, we also are in the midst of Fashion Week, which will give a hint not just of how retail will do for the holidays, but also what retailers we may see in the not-too-distant future.
After attending some half-dozen shows, I can report that luxe is …

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