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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 …

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[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 …

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[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 …

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[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 …

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[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 …

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[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 …

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[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 …

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[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 …

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[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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[16 Jul 2014 | No Comment | ]

By Steven Spinola
The issue of landmarking and its relationship with New York’s need for additional housing, especially affordable housing, is receiving a great deal of attention.
REBNY’s recently released a report entitled Housing Production on NYC Landmarked Properties is an informative and important contribution to this crucial public policy discussion.
The report’s analysis concluded that that of all the new housing created citywide over the past decade, less than one half of one percent was within landmarked historic districts.
Between 2003 and 2012, 206,819 new residential units were constructed, and only 1,318 of …

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