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Articles in the Opinion Category

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 …

REBNY Watch »

[6 Aug 2014 | No Comment | ]

By Steve Spinola
The Port Authority of New York and New Jersey has been using its Midtown bus terminal for the past 65 years, and recently announced that it is actively taking steps to address the numerous problems plaguing its aging terminal.
This week I’d like to talk about and raise awareness of some of the problems facing the Port Authority’s bus terminal, and explain why these improvements are so important to its continued operation.
Opened in 1950, the Port Authority Bus Terminal on 8th Avenue between 40th and 42nd Street is the …

Opinion, Property Managers »

[30 Jul 2014 | No Comment | ]

By Richard J. Hayes, vice president
ABM Facility Services
Today’s building technologies lend themselves to many advances that reduce the overall operating costs of a facility and become a significant contributing factor in both attracting and retaining tenants. 
This contribution is most pronounced when considering triple net tenants who are looking “holistically” at the true cost of leasing space, inclusive of operating expenses.  The cost per square foot is merely one part of the equation that informed prospective tenants use when calculating the life cycle costs of space for their employees. 
Smart …

REBNY Watch »

[30 Jul 2014 | No Comment | ]

By Steven Spinola
Despite increasing prices, demand in the NYC home sales market remains strong, according to the Real Estate Board of New York’s (REBNY’s) 2014 Second Quarter NYC Residential Sales Report.
The Second Quarter market report results show that NYC has a growing economy and that people still see the City as a good place for families and homeownership.
As prices soar in the Manhattan residential sales market, potential buyers are expanding their geographic considerations to the other boroughs in search of more affordable homes.
Consequently, residential sales activity in …

Opinion »

[23 Jul 2014 | No Comment | ]

By Harry Langer,
HJ Langer Real Estate
Consideration should be given to an emergency program to stimulate weak key sectors of the U.S. economy and correct bubbles in other sectors.
There should be an increase or reduction of the money supply and/or interest rates to each sector, and/or their various sub sectors to improve and grow the economy, create jobs and revenues, promote innovation, and minimize bubble risks.
This program would have a sunset provision.
Eligible Economic Sectors: all fields of high-technology; research and development; automation; productivity improvement; and innovation (advanced computing and communication systems …

Opinion »

[23 Jul 2014 | No Comment | ]

By George Calderaro, Board Member
Historic District Council
Manhattan Community Board 1
Re: “Preserving the past must be balanced with building for future,” that appeared in the July 16 issue of REW.
The Real Estate Board of New York’s (REBNY’s) long history of opposition to the New York City Landmarks Law and to LPC limits its capacity to offer a fair and objective analysis of the local designation and regulatory processes affecting historic properties, including its relation to affordable housing.
The Citizens Emergency Committee to Preserve Preservation has commissioned a study to analyze the New …

REBNY Watch »

[23 Jul 2014 | No Comment | ]

By Steven Spinola
In a city with more than eight million people, and another million expected by 2040, we need to focus on New York’s transit system and how important it is to our future.
Our trans-Hudson transportation is in dire need of attention.
New York City’s population has almost doubled since the last rail connection under the Hudson was built over 100 years ago, and the population of the counties on the other side of the river has tripled.
More significantly, almost a third of the city’s workforce is now comprised of suburban …

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