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Articles in the Opinion Category

REBNY Watch »

[28 Jan 2015 | No Comment | ]

By Steve Spinola
REBNY’s Residential Sales Report, issued quarterly. presents an up-to-date and comprehensive summary of New York City’s residential sales by borough, by neighborhood and by property type. It is the only report in the city which covers all five boroughs and their many neighborhoods, and recently, our fourth quarter report for 2014 was released. This latest report wraps up what has been an impressive year for residential real estate, and illustrates positive trends which we hope to see continued in 2015.
The average sales price of cooperatives, condominiums, and one-to-three-family …

REBNY Watch »

[20 Jan 2015 | No Comment | ]

Statement of Real Estate Board of New York President Steven Spinola on receiving The Harry B. Helmsley Distinguished New Yorker Award – January 15, 2015
Thank you for this wonderful honor tonight. To receive an award in the name of Harry Helmsley is an extraordinary recognition.
To have had the privilege to represent our industry for nearly 30 years has been a continuing honor and an opportunity of a lifetime.
You have trusted me to serve as REBNY’s President and be the voice of the most important industry in our City.
I will never …

Opinion »

[15 Jan 2015 | One Comment | ]

By James Nelson, Partner,  Cushman & Wakefield  (formerly Massey Knakal)
2014 was the year of the boroughs for New York City. After the correction in the market in 2009-2010, we saw a flight to safety with Manhattan sales leading the recovery.
In 2011, Manhattan generated 32% of the sales even though the borough accounts for only 17% of the properties, according to data by Massey Knakal (now Cushman & Wakefield).
This year, it looks like that level will decline to a more proportionate share of the sales with “only” 17% of the sales, …

Opinion, Retail »

[15 Jan 2015 | No Comment | ]

By Joanne Podell, Vice Chairman, Cushman & Wakefield
As the new year takes hold, it is privilege for me to assume an exciting new role with one of America’s most respected business organizations, the Real Estate Board of New York.
I was recently selected to take the position of vice chairman on the REBNY Commercial Board of Directors.
Under the remarkable leadership of our outgoing president, the universally respected Steve Spinola, REBNY has consistently been a valued resource and advocate for New York City’s retail sector.
In addition, all of us working with REBNY …

Featured, REBNY Watch »

[14 Jan 2015 | No Comment | ]
Hard work paying off with real estate victories in government

This Thursday marks REBNY’s 119th Annual Banquet, an event which celebrates our industry, its members, and everything we have all done in the past year to better New York City.

One of REBNY’s most important missions is to advocate on behalf of our members’ best interests on not only a city and state-wide level, but on a federal level as well.

2014 was a year which saw us working harder than ever before to pursue that mission and set more goals for the year ahead.

Featured, REBNY Watch »

[7 Jan 2015 | No Comment | ]
REBNY reign coming to an end with a burst of energy initiative

By Steven Spinola
Next week, our industry will convene for what is always one of my favorite nights of the year, the REBNY Annual Banquet which will take place at the New York Hilton on January 15.
Tickets are still available, but they won’t last.
In between meeting new contacts, catching up with old friends, and schmoozing with the movers and shakers of real estate and government, you’ll want to keep an eye out for five special REBNY members.
The Bernard H. Mendik Lifetime Leadership in Real Estate Award will go to William C. …

REBNY Watch »

[23 Dec 2014 | No Comment | ]

By Steven Spinola
Construction is nearing completion at Riverside Center, and with it marks the end of the Riverside South mega-project.
Originally conceived over 50 years ago, this exciting plan has transformed a 77-acre former rail yard into a series of condominium buildings between 59th and 72nd street. Once completed, Riverside South will breathe new life into the area.
This new neighborhood will include more than 10,000 new homes, restaurants, retail plazas, additional space for parking, roads, and more.
Over 27 acres are being rezoned specifically for Riverside Park South, and the surrounding area …

Green Building, Opinion »

[16 Dec 2014 | No Comment | ]

By Jorge J. Lopez, president and CEO,
ConEdison Solutions
The time is right to launch an integrated, multi-year Energy Master Plan.
While it is typically difficult for corporations and institutions to exercise control over such costs as healthcare and real estate, they do have a significant opportunity to rein in and rationalize their spending on another major budget item: energy.
Indeed, the growing capability of organizations to control energy spending comes at an ideal time, because energy prices have been extremely volatile during the past 24 months.
Corporations and institutions today have the power to …

REBNY Watch »

[16 Dec 2014 | No Comment | ]

By Steve Spinola
As 2014 draws to a close, I want to highlight a few of the REBNY members who were singled out this year for their achievements and contributions to our industry.
This year, our Deal of the Year Awards once again went out to industry professionals who went above and beyond. I would like to commend them for their creativity, hard work and determination.
In May, we held our Ingenious Deal of the Year Awards at the 101 Club, where we honored five of New York City’s most innovative real estate …

Office Market, Opinion »

[11 Dec 2014 | No Comment | ]

By Seth A. Liebenstein, partner, BBWG
 Within a commercial lease, a tenant’s assignment and subletting rights are typically specifically defined with the landlord likely having the right to consent to any assignment or subletting of the premises.
Often, a tenant will attempt to negotiate into the lease the right to assign or sublet the premises without the landlord’s consent under certain circumstances, which might include a sale of the tenant’s business, a merger or consolidation of the tenant’s business with another business, or, in some cases, a “desk-sharing” arrangement.
A desk-sharing arrangement is common …

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