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Articles in the Opinion Category

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[12 Sep 2014 | No Comment | ]

The Real Estate Board of New York hosted its 27th annual Pro-Am Tennis Tournament on September 3, 2014 at Sportime located at Randall’s Island.  Members who participated in the tournament spent “a day with the champions”, paired with professional tennis players. Following the competition, guests were invited to join in for the afternoon tennis clinic.
The proceeds from this annual event went to The Gift of Life Foundation in honor of our friend and well respective REBNY Member Steve Siegel’s wife, Wendy Siegel. Wendy has been fighting leukemia.  With the help …

Opinion »

[10 Sep 2014 | No Comment | ]

NGKF vice chairman Brian Waterman and developer Brad Blumenfeld will lead a team in the annual Light of the Night Walk taking place in Manhattan on September 18.
The walk – organized by the Leukemia & Lymphoma Society (LLS) –  is part of  Blood Cancer Awareness Month and commemorates the more than one million Americans affected by blood cancers every year.
Both Waterman and Blumenfeld have been touched by the heartache of the disease.  Brian’s brother Stephen died from  non-Hodgkin’s lymphoma in 2012.
David Blumenfeld – Brad’s brother – continues to battle chronic …

Opinion »

[10 Sep 2014 | No Comment | ]

By Harry L. Langer,  HL Langer & Co. 
The selective use of UPZONING is the most effective and efficient way to get AFFORDABLE HOUSING:
1. Any inner city vacant lot over 4000 square feet in low or moderate income areas (particularly those owned by the municipality) should be upzoned 4:1 to 10:1 land to building ratio (FAR).
 2. This new special zoning category would be exclusively targeted for and restricted to the construction of affordable housing based upon the determination and definition of poverty levels for families and individuals as set by the …

REBNY Watch »

[9 Sep 2014 | No Comment | ]

By Steven Spinola
At the 19th annual Real Estate Council Benefit on November 6, The Metropolitan Museum of Art will honor Burton P. Resnick, a founding member of the Met’s Real Estate Council. 
This evening will celebrate his noteworthy accomplishments in the real estate community as well as his long-standing support of one of the great New York institutions.
This is a well-deserved honor for Burt Resnick, a past chair of REBNY, who has devoted himself to improving our industry and the city of New York as a whole.
There are not many real …

REBNY Watch »

[3 Sep 2014 | No Comment | ]

On September 12th, I will be attending and speaking at the Meadowlands Regional Chamber of Commerce’s Transportation Summit, “Connecting the Region for the 21st Century: Investments for the Future.”
This event will provide an excellent venue for officials to engage in an informative discussion about transportation, mobility and put forward and explore new ideas that will shape the future of regional connectivity.
At this summit, I will join a smart group of leading transportation experts and scholars including John Robert Smith, Veronique Hakim, Mary Murphy, Martin Robins, Mitchell Moss, and Petra Messick.
Among …

REBNY Watch »

[2 Sep 2014 | No Comment | ]

By: Steve Spinola
Brookfield Place’s $250 million renovation is already taking the Financial District by storm and turning the area into one of the premier destinations for millions of New Yorkers and tourists alike.
After what seems like an eternity of construction, Manhattan’s downtown area is poised to become an even more bustling hub than it already is, and in this case, it will be on an awe-inspiring scale.
The complex itself spans over eight million square feet, and uses this space to bring New Yorkers a complete package in terms exceptional shopping …

REBNY Watch »

[22 Aug 2014 | No Comment | ]

By Steven Spinola
Mayor Bill de Blasio’s bold and aggressive new housing plan, “Housing New York: A Five-Borough, Ten-Year Plan,” calls for the creation and preservation of 200,000 units of housing, including 80,000 new affordable housing units.
As we work together with government to tackle the housing crisis, there are both reasons to be optimistic as well as steep challenges ahead.
The first challenge is to address the needs of our growing population.
As the Columbia University’s Center for Urban Real Estate’s Vishaan Chakrabarti and Jesse Keenan projected in their report last fall, “NYC …

Brokers Weekly, Opinion »

[22 Aug 2014 | No Comment | ]
High rent vacancy not a  ‘get out of jail free’ card

By Adam Bailey & Dov Treiman
Adam Leitman Bailey, P.C.
Throughout the residential housing industry, there is dangerous ignorance of the amendments promulgated this year, amending the Rent Stabilization Code.
All owners should be reading as much as possible about these amendments. Business is simply not the same as it was.
One of the massive changes is in the notice that an owner must give to a new tenant immediately after deregulating the premises for rent that has gone above the $2,500 threshold. Prior to 2014, the landlord had to furnish the new tenant …

REBNY Watch »

[15 Aug 2014 | No Comment | ]

By Steve Spinola
This week, I’d like to recognize William (Bill) Montana, a longstanding REBNY member who is constantly working to improve the real estate industry.
A member of numerous committees, subcommittees, organizations, and more, Bill is the kind of person who wants to be part of every aspect of what is going on in his community and field, and does not wait for these opportunities to be involved to come to him – he initiates, comes up with ideas, and has dedicated an impressive amount of time and effort into not …

Finance & Accounting, Opinion »

[6 Aug 2014 | No Comment | ]

By Billy Procida,
Procida Funding
No I’m not talking about Obama or any politician, I’m talking about the market for what I refer to as “wholesome housing.”
For those of you who have been reading my forecasts for the last few years, sorry to sound like a broken record, but my story remains pretty much the same. That’s a good thing from my point of view and, more particularly, a good thing as relates to real estate in the 100 mile radius of New York City.
The continued and ever expanding turmoil throughout the …

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