Articles in the Opinion Category
REBNY Watch »
New York City’s real estate industry is not only a major economic engine — it also provides the tax base the City needs to fund the salaries of every single school teacher, police officer, fire fighter and a lot more city services.
These vital city services depend on the real estate industry for funding and are part of what make New York a great place to live, work, and raise a family.
REBNY’s new comprehensive economic impact study titled, “The Invisible Engine: The Economic Impact of New York City’s Real Estate Industry,” completed by AKRF, Inc, makes it clear that we must continue to build revenue-generating properties throughout the five boroughs and keep the ‘Invisible Engine’ running.
Brokers Weekly, Opinion »
Part I: Issues Impacting Who Has the Authority to Legally Sell Property
By Mary S. Croly, Esq., Of Counsel, McLaughlin & Stern, LLP and
Rory S. Clark, Esq., Associate Real Estate Broker, Halstead Property, LLC
This series of articles will demystify the process of a successful residential estate sale, walking through the legal and real-life issues that a family will encounter along the way and how best to navigate such issues.
Critical to an estate sale is hiring a highly qualified team consisting of a trusts and estates attorney, a residential real estate attorney …
Editorial Supplements, Opinion »
By Christel Engel,
executive managing director,
I am fortunate to have witnessed, and participated, in the renaissance of Midtown South over the course of my career.
When I earned my New York Real Estate license in 1986, off the avenues between 15th and 30th Streets was a manufacturing metropolis where tenants paid $6.50 to $8.50 per square foot in rent.
The streetscape was filled with garbage and the homeless and I particularly remember that the smells of these streets in the summer were much worse than the subway.
The avenues weren’t much better; …
REBNY Watch »
REBNY recently released two studies on landmarking. The first noted that nearly 30 percent of Manhattan has received landmarks designation, and the second found that only five new units of affordable housing have been built in historic districts in the past decade. Rather than attempt to dispute these facts, opponents instead have accused us of trying to weaken or destroy the landmarks law. These accusations are misguided and only serve to distract from the realities facing our city.
Deals & Dealmakers, REBNY Watch »
By Steven Spinola, president, REBNY
Last month, Larry Silverstein stepped down as co-CEO of Silverstein Properties Inc, (SPI) the company he helped found almost 60 years ago.
He remains chairman, while Marty Burger takes over as CEO.
Larry has had more than a lifetime’s worth of success in our community. I would like to recognize some of the recent successes of SPI and REBNY’s former chairman.
Larry Silverstein has had a profound effect on Lower Manhattan’s skyline.
After signing a groundbreaking 99-year lease for the original World Trade Center, Larry shocked the world by declaring …
REBNY Watch »
By Steve Spinola
In the aftermath of Hurricane Sandy, the entire world witnessed both the devastating effects of the storm and the great determination of New York to come back.
andy crippled New York City. Forty eight lives were tragically lost as a result of the storm. Homes and businesses were destroyed. Transit systems and schools closed. The shortage of gasoline in the metropolitan area disrupted the lives of millions. Governor Cuomo estimated that Sandy cost the state $32 billion in damage and loss.
As we have seen through countless examples on …
REBNY Watch »
By Steven Spinola,
president, Real Estate Board of New York
The demand for housing in the five boroughs is strong, according to the Real Estate Board of New York’s (REBNY) Fourth Quarter New York City Residential Sales Report. This is great news, but hardly the end of the story. Consumers are showing a confidence in the New York City real estate market that’s hard to miss. And many existing homeowners are being rewarded for their investment in our great city by seeing their condos, coops and houses increase in value.
As with any …
By Patricia J. Lancaster, FAIA
Whether you are pro or con, there is simply not enough known about the effects of hydro-fracking to make a considered judgment. Although the first commercial use of hydro-fracking was in 1949, the main differentiating factor that makes it much less expensive now is the use of millions of gallons of fresh water per drill site, and the ability to control horizontal drilling remotely.
By Richard Persichetti, vice president,
The 2014 Super Bowl will be held in the New York City area for the first time in all 48 tries.
Each year the host city enjoys the reward of a temporary boost to the local economy. Not only will New York City benefit from this, but our city can also now claim the record for the most expensive ticket prices ever for the big game.
The price for an NFL-issued ticket tops out at $2,600, which shatters last year’s top ticket price by more than …
The DHCR recently adopted 27 amendments to the Rent Stabilization Code despite strenuous opposition from both owner and tenant representatives. Although the amendments are effective immediately, it is expected that DHCR will postpone implementation of many provisions until DHCR has a chance to prepare and promulgate new forms and instructions.
“The scope of changes will impact owners in a variety of ways,” said Blaine Z. Schwadel, Rosenberg & Estis, P.C. “We urge caution during this period of transition as there appears to be conflict within the new rules, among other things …