Articles
Below are articles of interest selected by Sierra.
August 2010: Alive and Well!, Crain's New York Business
It's expected that the 2010 census will demonstrate the resilience and strength of our city. New York is the only large city in the Northeast and Midwest, including Philadelphia and Chicago, that has shown substantial population gains since 2000. In fact, New York City has been adding, on average, almost 1000 people a week since 2000. What's even more interesting is the characteristics of these people and what it tells us about how the city has changed during the past decade and what we can expect going forward. For more information check out Crain's white paper on "what the 2010 census..."
August 2010: No, It's Not "Stairway to Heaven" (volume 1), Rolling Stone
Rolling Stone magazine just published their list of the 500 greatest songs of all time. I've included their list of the second through 10th. Number one will be included in my next blog posting.
June 2010: Grab your Nuts and Have Sex 700 times a year: The Best Health Advice I've ever received, Natural Awakenings
Need I say more!? Check out "What Works."
June 2010: 25 Big Ideas to Change New York, Crain's New York Business
Definitely worth a quick read.
June 2010: Stats and the City, Crain's New York Business
For some curious statistics about the City check out this article. What I found particularly interesting is that while $2 today buys you what $1 got you in 1985 (a 100% inflation rate over 25 years), average apartment prices for a one bedroom co-op/condo in Manhattan have increased 185% (significantly higher than the inflation rate), the average asking rent for commercial space has increased 76% (significantly less than the inflation rate) , and the average 30-year fixed rate for New York area co-op mortgages has decreased from 13.28% in 1985 to 5.13% in 2010 (which probably explains why the appreciation in co-op/condo prices has greatly outpaced inflation during this period). Also interesting is that while the city's population increased by 1.2 million people over the 25-year period, the number of people employed only increased by 200,000 during that time. Yet the unemployment rates were 8.2% in 1985 and 9.4% in 2010. Given the large increase in population relative to the modest increase in number of people employed over the same period together with slightly disparate unemployment figures it's difficult to explain this phenomenon. My guess is that the number of children and elderly in the city relative to those in the workforce has increased significantly during this time period.
May 2010: Operating Figures for Rent Regulated Housing, RSA Reporter
The "Highlights from the first three RGB Reports" provide some very interesting statistics relating to rent regulated housing in New York. The statistics are based upon 2008 data and show that the average monthly rent for all rent stabilized units was $1,012 per unit ranging from a high of $1,404 in Manhattan to $743 in the Bronx. Operating and maintenance costs averaged approximate $739 per building. The most startling number to me, however, was the number of properties that are characterized as "distressed" (buildings that have operating and maintenance costs greater than gross income). At 12.8% (or one in every eight buildings) this is an extremely upsetting number, particularly given that this was data collected based upon 2008 results which, for the most part occurred before the economic downturn fully impacted New York. I would expect that for 2009 and 2010 this statistic will be even worse. Under no set of circumstances is it healthy for 1/8 of the rent regulated housing stock to be in distress. This is bad for landlords, the tenants who have to live in substandard conditions as a result, and the city and the state that stand to lose significant tax revenues as a result and who ultimately may become the landlord of last resort.
December 2009: How to Win A Chronic Nonpayment Case, New York Housing Journal
Deadbeat Tenants Getting you Down? Believe it or not, there is something you can do to deal with the
deadbeat tenant that only pays rent once you start legal action.
December 2009: 100 Best Things You Must Eat and Drink, Time Out New York
Prepare yourself for the finest burger in the city, plus life-changing fried chicken, pizza, sea-urchin toast, caramel-chocolate popcorn.
November 2009: Spending an End to New York's Nightmare, New York Post
By being unable to cut spending, our local and state governments face only one alternative, to increase taxes, fees, fines etc. The article "Spending an End to New York's Nightmare" eloquently describes the problems that this creates.
September 2009: Best Rock Songs
OK, so it has nothing to do with real estate. This list of the best
1000 rock songs, as voted on by the listeners of 101.9, is a treasure
trove of songs to be downloaded into your iTunes library. It is not
the top 100 songs that is so interesting (although the selection of
"London Calling" as the top song is a little bit puzzling) — it is
all the rest. Feel free to share this list with others. Rock on!
September 2009: The Apartment Inspection Checklist, Chip
Recent court decisions, as well as proposed legislative changes, should serve as wake-up calls to those of us who own and/or manage multi-family properties.
September 2009: We Are Not Alone
"We are not alone" is an article I wrote describing my experience of
discovering my alter ego on the Internet.
September 2009: Commercial Rent Regulation
Our friends in the city Council are once again contemplating a system
of regulations for small retail stores in New York. I discovered this
while reading a newsletter from Councilwoman Gail Brewer. I sent her a
response — read it here: "Commercial Rent Regulation."
August 2009: Bronx Burning Failed Deals, Crain's
The article "Bronx Burning Failed Deals" describes the bloodbath that
is occurring in the Bronx. As those of us who have been in this
business over several real estate cycles recognize, marginal
neighborhoods are the ones who get hit hardest during economic
downturns.
August 2009: Mezzanine Lenders Swoop In, Crain's
Looking for opportunities buying distressed debt? Check out the
article "Mezzanine Lenders Swoop in."
August 2009: Return of the Chains, Center for an Urban Future
Want to know what stores will be filling up all our vacant retail
space? Check out the article "Return of the Chains." Coming to Madison
Avenue: "Dunkin' Doughnuts" and "Subway"? That's an image: social
x–rays (remember that term from Bonfire of the Vanities?") marching
down the Avenue in their Jimmy Choos, cockadoodle in tow, chowing down
on jelly doughnuts and Double Stacked Subs, between Pilates classes
and Botox injections.
July 2009: Burger Kings, New York
One sign of a stumbling economy is the proliferation of burger joints throughout the city. For those of you taking Lipitor you can check out the best burgers in the article "Burger Kings."
July 2009: Billy Burg Bust, New York
Lesson learned: hipsters are not a sound foundation on which to
rebuild a new neighborhood. The bloodbath occurring in Williamsburg
certainly attests to that. Not exactly a shock. A doff of our pork pie
hat to the article "Billy Burg Bust."
July 2009: Obama Six Months Later
A detailed description of how changes in federal policy has benefited,
or will benefit, New York is explained in the article "Obama six
months later."
July 2009: Heaven On Bread, New York
Some of New York's best sandwiches are described in "Heaven on Bread."
Having tried several of the sandwiches, I have to agree that they are
truly wonderful. Just make sure you wipe the crumbs off of your shirt
when you are done.
July 2009: Meaning of Life
The editorial "Meaning of Life" answers all our questions. It's all
about the trade–off between longevity and quality of life. Would you
rather be fat and happy but live a shorter life, or thin and miserable
but live to be 120? If you want to live to be a ripe old age, skip the
article "Meaning of Life." It might make you happy but it may also
kill you. Some choice!
June 2009: Repurpose Life, New York Times
In my 6/6/09 blog posting, I mentioned that the average retail space
per capita in the United States is 20 ft" per person, while in the
outer boroughs of New York it is only 6 ft" per person. The suggestion
was that the outer boroughs of New York are under retailed. However,
the article "Repurpose–Driven Life" argues that the opposite is true.
Compared to our our European — and other — counterparts, the United
States is grossly over retailed.
June 2009: City Facts, Crain's
"Where New York Ranks" provide some very interesting statistics and
facts. New York, for instance, has the highest worker productivity
among states but also suffers from the highest income inequality.
June 2009: Central Perk, Crain's
"Central Perk" describes how New York's Central Park is not only just a green oasis in the center of the city but also a veritable gold mine as well.
June 2009: Beyond the Workout, New York Law Journal
For an excellent overview of some of the legal issues involved in the taking over of troubled properties see the article "Beyond the Workout".
May 2009: A 25 Year History Holds Clues to Multi-family's Future, Massey Knakal
October 2009: The Value of a Building These Days, Observer
If you look hard enough you can always find a silver lining in every cloud. The silver lining during this downturn is that Bob Knakal has had the time to write some of the most thoughtful and illuminating articles about real estate issues that I have read in a long time. The two that I have enjoyed the most are "A 25 Year History Holds Clues to Multi-family's Future" and "The Value of a Building These Days". Both of these articles are essential reading for all of us in the real estate industry.
May 2009: BulkSales of Condos Spreading, Crain's
"Bulk Sales of Condos spreading" describes recent efforts of developers to sell units in a low velocity market.
May 2009: Where Does New York Stand, Wall Street Job Losses, Crain's
Recession NYC Job Lost Estimate Ease
Three articles discuss the current economic situation in New York. The news is not all bad. The economic stimulus package may have softened the impact on the city. Moreover, unlike our experience during Republican administrations (Who can forget following 9/11 the formula for the allocation of Homeland Security dollars that treated New York the same as North Dakota), New York has received a very significant share of stimulus dollars. It helps that New Yorkers currently play a very significant role In the current administration and in Congress. The new urban agenda that is being adopted in Washington will certainly benefit the city over the next four years.See the three articles "Recession NYC Job Lost Estimate Ease", "Wall Street Job Losses", and "Where Does New York Stand".
April 2009: Hot or not, Time Out New York
Some neighborhoods in New York are still hot notwithstanding the recent downturn in our local economy. I am pleased to see that Sunset Park in Brooklyn Makes this list. I can attest to the strength of this neighborhood based upon our successful experience with our condo conversion in this neighborhood.See the article "Hot or Not".
April 2009: Four Neighborhoods Roll with Punches, Crain's
Not all neighborhoods in the city are being impacted the same by the current economic conditions. The article "Four Neighborhoods Roll with Punches" describes how businesses in the four outer boroughs (yes, there is life outside of Manhattan) are dealing with current market conditions.
April 2009: Something Slowing Plunge, Crain's
Has taxpayer bailout funds lessen the impact of Wall Street's demise on the city's economy? The author of "Something Slowing Plunge" seems to think so.
April 2009: It's Bad, But Not That Bad, Crain's
"Not that Bad", I don't know, is this supposed to be good news?
April 2009: New Yorkiest Blocks, Time Out New York
Okay, baseball season is boring, football season is many months away, and your teenage kids won't even acknowledge your existence. Rather than sitting around and watching reruns of "Seinfeld" go explore some of New York's more interesting blocks. The article "New Yorkiest Blocks" describes certain blocks in the city that are worth exploring. Any time I get fed up with the city all I need to do is go out and explore a new neighborhood and I am reminded why after over 50 years I still love living here. There is always something new and exciting to experience.
April 2009: Eat Out Awards, Time Out New York
For those of you who love to eat, and who doesn't, check out "Eat out awards".
April 2009: Arrivals, New York
How about some good news for a change? Apparently, despite recent economic woes, New York City is still the Big Apple and many young people's eyes. In fact, the recent downturn has actually resulted in many recently unemployed relocating to New York in search of their big break. This phenomenon is described in "Arrivals–New York".
April 2009: Recycling Suburbs, Time Magazine
"Recycling Suburbs" is featured in Time Magazine as one of the 10 ideas that are changing the world. This article describes the transformation that is occurring in many existing suburbs to bring them into the 21st century and to make the "greener".
April 2009: Reinstating the Interstate, Time Magazine
For a description of how the 47,000 miles of the interstate highway system can be adapted to better serve the 21st century see the article "Reinstating the Interstate". No longer was the interstate simply be a roadway to transport cars from place to place but it can now serve as the basic infrastructure for creating light rail systems and extending the power grid.
April 2009: Hasidic Haberdashery, Time Out New York
Have you ever been curious about what the various style hats mean that are worn by Hasidic men? I always thought that the style of hat indicated the region of Eastern Europe from which the family had emigrated. I was wrong. The correct answer, look at the article "Hasidic Haberdashery".
April 2009: 10 Tips for Meaningful Reference Checks, New York Enterprise Report
Most of us have very little idea how to interview a prospective employee or to check their references. For some guidance, look at the article "Reference Checks".
March 2009: NY by the Numbers, Center for an Urban Future
What can you learn by looking at ridership numbers for the New York City subways? You would be surprised. Take a look at the article "NY by the Numbers" to really get a sense of where growth has occurred in the five boroughs over the last 10 years. Ridership at some of the fastest growing stations has increased over 700% over the past 10 years.
March 2009: Soaking the Rich, Crain's New York Business
"Soaking the Rich" outlines the combined magnitude of the proposed increases in the local, state and federal tax rates. This is not for the faint of heart. I do not recommend reading this at the same time that you're reviewing your most recent brokerage statement. Such large tax increases coming at the same time as a substantial decrease in net worth for the wealthy will not be healthy for the economy. If consumer spending is what will lift us out of this economic slump, tax increases of this magnitude on those who historically are this country's largest spenders will only further discourage spending and exacerbate an already dire situation.
February 2009: Fear and Grouting in New York, The New York Observer
There's little to be cheered these days if you are a developer with a project under construction. A small silver lining-construction unions and construction contractors are now willing to negotiate some of the more onerous provisions in their contracts. See the article "Fear and Grouting in New York" .
February 2009: The Bronx is up, Center for Rethinking Development Newsletter
For a case study of how a pro-business, pro-development strategy can help turn around and economically depressed area one only needs to visit the Bronx (who would've thought!) and read the article "The Bronx is up".
February 2009: Store Closings
"Store Closings" is very simple. It is a master database setting forth stores that will be closing over the next year.
February 2009: Wooing Tenants in a Down Market, Real Estate Weekly
Despite the tough economy deals are getting made. My partner, Peter Braus, recently authored the article "Wooing Tenants in a Down Market" which outlines strategies that property owners can adopt to adapt to the realities of the current market.
Winter 2009: Green Cities, Brown Suburbs, City Journal
I've always been critical of federal and state policy that has promoted the suburbanization of America at the expense of inner–city investment. What is ironic is that high density city living is far more "green" than suburban living.
January 2009: Revitalizing Urban Centers through Retail, Urban Land
Many cities in the United States have watched their downtowns and urban centers deteriorate as large shopping and power centers are constructed on their periphery. European planners, however, have used shopping centers to help revitalize the downtown areas of their cities.
January 2009: Condos Gone Bad
Forget "Girls Gone Wild ". To really experience debaucher and drunken behavior see the article "Condos Gone Bad".
January 2009: Dining Etiquette, Bremer Communications
When you're at a dinner party, do you put your olive pits on the bread plate to your left or to your right? You'd be surprised at how many people are lacking proper dining etiquette (me included!) The article "Dining Etiquette" will help you to avoid committing major dining faux pas's.
January 2009: Future of NYC: How bad will it get?, Crain's New York Business
To understand the magnitude of the issues facing our city over the next several years it is instructive to understand what happened in previous downturns. "Future of NYC: How Bad will it Get?" provides an invaluable history lesson. When reading this article keep in mind that current predictions are that the City will lose a total of about 250,000 jobs by the middle of 2010 although this number has been climbing every month.
January 2009: A Return to Fundamentals in Times of Crisis, Urban Land
For those of us who have been compelled to sit on the sidelines the last couple years while the spreadsheet cowboys have been chasing deals with cheap money, the article "Return to Fundamentals in Time of Crisis" is a breath of fresh air. Isn't this how deals were always supposed to be done?
January 2009: London and New York in the 21st Century, Urban Land
"London and New York in the 21st century" is an interesting analysis of what these two cities must do over the long term to maintain their stature as the foremost commercial centers of the world.
January 2009: Fine China, Eat Out
For the brave souls among you who would like to celebrate The Year of the Ox, "Fine China" offers recommendations for several restaurants in Manhattan's Chinatown. Enjoy!
January 2009: Renewal commissions grow in tenant's market, The Real Deal
January 2009: Excelling in Tough Times, James R. Wacht
January 2009: Stress And The City, Crain's
"Stress in the City," offers a quick snapshot of what's in store for 2009. While these numbers are cause for concern they must be kept in perspective. It is projected that the city will lose 175,000 jobs over the next one or two years. While this is a very high number it is lower than the 225,000 jobs that were lost in 2001, the 325,000 jobs that were lost in the late 1980s and the 610,000 jobs that were lost in the 1970s. On the other hand, it feels to me as if the City's economic circumstances are far worse than they were in 2001. Let's hope that job losses do not exceed the 175,000 jobs that are currently projected to be lost.
January 2009: The Simpler Pleasures, New York
For the foodies among you, I included the article "The Simpler Pleasures" which is New York magazine's list of where to eat in 2009.
December 2008: Asking Rent Agonistes, The New York Observer
People often ask me, "What is the rental rate I should charge for my office or store space?" In today's market, it is an exceedingly difficult question to answer.
December 2008: Union, City Sew Tentative Deal on Garment Center Future, The New York Observer
The Garment Center as the focal point for the garment trade has been dying for several decades now. Its demise has been postponed by zoning that attempts to preserve manufacturing space. It appears, however, that the garment center is soon to be removed from life support.
December 2008: Meadowlands Xanadu in New Jersey, Real Estate Weekly
Giant and Jets fans! Have any of you wondered when that horrible monstrosity that is being constructed next to the Meadowlands will be completed? Construction has been going on for years and has been incredibly disruptive to traffic and parking.
December 2008: It's a WashMu!, The New York Observer
Finally, what will happen to all those bank branches that sprouted up all over the city during the past 10 years?
November 2008: How Many Apartments Are too Many?, The New York Observer
It seems only a matter of time before the current market conditions affect Manhattan and outer borough apartment rental market. The article "How Many Apartments Are too Many?" discusses the current state of the Manhattan apartment market. Reports about the outer borough apartment market are sketchier. However, based upon my discussions with outer borough landlords it appears as if the outer borough apartment market is holding up better than the Manhattan apartment market.
November 2008: The New Lehmans, The New York Observer
Okay, so conduit lenders have disappeared, banks are getting finicky and life insurance companies are sitting on the sidelines where does one go to get mortgage financing? Read this to find out.
November 2008: What Obama means to New York, Crain's New York Business
Will Obama with his urban agenda but proposed tax increases be good or bad for New York? The answer can be found in this article .
October 2008: Lender Defaults, Real Estate Trends
Remember the good old days when it was the borrower who defaulted? This article describes what a borrower should do when the tables have been turned and it is the lender who is defaulting.
October 2008: Food Courts for Food Lovers, Shopping Centers Today
For those of us who've gotten tired of the typical fast food fare(McDonald's, Panda Express, Wok N' Roll) found at local shopping centers, this article describes the recent and welcomed trend of replacing traditional food courts with higher end food courts focusing on comfort, atmosphere and fresh food.
October 2008: Incentive Enough, Shopping Centers Today
This story describes the unscrupulous accounting trick that one recently bankrupt retailer, Steve and Barry, used to artificially inflate their earnings.
October 2008: Vacancies to cash cows, Shopping Centers Today
Those of you with empty retail space will be interested in this article, which describes how vacant stores can easily be converted into valuable ad space.
October 2008: Vultures Swoop down, Crain's NY Business
describes how many local real estate operators are keeping their powder dry waiting for prices to adjust
October 2008: Worth It Living Here, Time Out New York
Time Out New York's take on what makes it worth living in New York.
September 2008: Roommate Profiteering, New York Law Journal
In a divided decision, Appellate Division, First department has reversed a former decision that allowed residential landlords to terminate the lease of a tenant that is subletting her apartment for an excessive profit. For the full text of the decision, see "Roommate Profiteering."
August 2008: Damages, New York Law Journal
Now for some good news: a recent Appellate Division, Second Department decision determined that a residential landlord has no duty to mitigate damages arising from a tenant's lease default. See the article "damages" for the full text of the decision.
August 2008: Beyond Valet Parking, Shopping Centers Today
Next time you spend 15 minutes lost in a multi-tiered parking structure think about this article, which describes a high-tech parking system that reduces parking time by up to 55%.
August 2008: Developers cut 2008 pipeline by one third, Shopping Centers Today
does this is article really need an explanation?
August 2008: Houston, We have a problem, City Journal
this article describes the lessons that heavily regulated New York City can learn from the Houston experience.
March 2008: Owners Learn the Pros and Cons of 1031 Exchanges, CHIP News
By doing a 1031 exchange, you might increase your return on equity, and have more spare cash by deferring capital gains tax.
October 2007: Clash of the Shopping Carts, The Real Deal
As larger supermarket chains multiply in New York City, conventional grocery stores are giving up more locations and having to get more creative.
October 2007: Estate Plan & TICS, N'East RE Bus
Tenancy in common purchases can help investors dodge taxes, give flexibility to heirs, and reduce management responsibilities.
October 2007: Grocer Bears Fruit DT L.A., Wall St. Journal
Discusses how Ralph's Fresh Fare has impacted downtown Los Angeles.
October 2007: Ground Shifts For Borrowers, The Real Deal
Examines the volatile mortgage market in Manhattan.
October 2007: Professor Risk, Wall St. Journal
Sam Zell, an expert in assessing investment risks, analyzes how the real estate market has changed throughout history.
August 2007: Facing its Past, Newark Gets Ready for its Future
Newark is extremely well situated, near both a major airport and the nation's strongest metropolitan center. It is an area full of potential, but needs first to overcome a large number of problems, including crime, corruption, and the negative aftermath of urban renewal.
August 2007: How to Keep Our Bridges Safe
In the wake of the Minnesota bridge tragedy, states and cities are partnering with private investors for new construction projects or selling off toll roads and bridges altogether in attempts to offset a lack of government funds for proper maintenance–often with surprising success.
July 2007: Big Media Firms Are Among Tenants Migrating From Midtown to Cheaper Digs
Rising prices and demand in Midtown Manhattan are pushing tenants to look for office space in Midtown South and Downtown.
July 2007: Off-Campus Foodie Haven Rises in West Harlem
The expected expansion of Columbia University is leading to a surge in the number of restaurants in West Harlem, in anticipation both of new business from students and of a change in the area in general.
July 2007: The Fastest Growing U.S. Cities
The Sunbelt cities are growing at a faster rate then the older industrial towns that used to dominate in growth.
July 2007: Companies Leave Tax Incentives on the Shelf
Development companies are not taking advantage of the numerous tax incentives offered in New York City.
July 2007: Paradise Lost? Artists Fear a Gentrified Gowanus
Artists worry about displacement as Gowanus cleans up and grows in popularity.
June 2007: Stopping the Brain Drain
States like Pennsylvania are taking measures to build a young and well-educated workforce, including looking for ways to prevent college students from moving back out of state after graduation.
June 2007: Hedging Bets With Hybrids
A greater number of developers in Manhattan are building rental-condo hybrid buildings, both to experiment with a more mixed approach and in attempts to hedge the market.
June 2007: Bad Odds
More cities are trying to solve economic problems by developing casinos but history suggests that it might not be a good solution.
June 2007: Upper East Side Drifts North
As new condos are built farther uptown on Fifth Avenue, the traditional boundary between the East Side and Harlem is being pushed north.
June 2007: Healthy Asset: Medical Offices
REITs are beginning to favor investment in medical offices because the United States demographics are changing as the baby boomers move closer to retirement.
June 2007: The Little Engine That Could
Many cities are choosing to develop along train lines to revitalize struggling urban neighborhoods.
June 2007: How Much is Too Much?
Many feel that there is an office-space shortage in Manhattan, but finding a way to remedy the problem may prove to be difficult due to a shortage in space.
June 2007: Come One, Come All
Although globalization has caused American cities to lose their edge in manufacturing, it has also caused increased economic returns for being smart and New York City has an advantage due to its large concentration of diverse, talented people.
June 2007: A New Ballgame
Sports stadiums don't always have to drag down the economy but success depends on doing more then just building a ballpark as shown by cities such as San Diego and Denver.
May 2007: Office Demand Quashes Condos
Due to the increased demand for office space, the real estate industry has shifted away from condo development and towards commercial buildings.
May 2007: Where's Wallabout?
Brooklyn's Wallabout district is getting a makeover and residents wonder to what extent the district will change.
May 2007: Silver Lining on Traffic Fee
Small companies are beginning to warm up to Mayor Bloomberg's traffic reduction plans as they learn more details.
May 2007: Sunset Park Also Rises
Development in Sunset Park is increasing, which has prompted rezoning talks to prevent tall buildings blocking park views.
May 2007: Diversify Your Portfolio When Selecting 1031 Property
When selecting a 1031 property, a portfolio can be diversified with purchases such as time shares and oil and gas rights.
May 2007: On Top of the World
The unique character of 712 Fifth Avenue is attracting power brokers who are willing to buy out current tenants.
May 2007: Building a Better Bike Lane
The heavy reliance on cars in the U.S is coming under attack as cities in Europe become more bike-friendly and reduce car emissions.
May 2007: Mike's Big Tests
Examines Mayor Bloomberg's progress over the past five years and his plans for the future.
May 2007: Road Warriors
As population rises in America, traffic continues to dramatically worsen in major cities. This article discusses different approaches that have been used and possible strategies to come.
April 2007: New Fashion District
While zoning helps to legalize office conversions in the garment district, non profits will also protect factory space for apparel companies.
April 2007: Bloom Town
Mayor Bloomberg unveils his plan for a “greener New York” by suggesting improvements in areas such as transportation, energy, housing, and open space.
April 2007: NYU Trumps Suburbia
Prices rise as the boroughs become attractive to all types of buyers, while suburban prices fall.
April 2007: Like-Kind Exchanges
The requirements necessary to satisfy holding purpose requirements.
April 2007: Bloomberg's Plan for Growth
Mayor Bloomberg's plan to accommodate a rapidly increasing population relies on the relationship between housing, transportation, energy, and the environment.
April 2007: A Commuter's 3-Hr. Nightmare
Explores how Bloomberg plans may improve traffic in New York City.
April 2007: Driver ‘Fee-Z Pass'
Different perspectives of a fee system for the roads of NYC are contrasted.
April 2007: Foreclosure Investors Take the Deals Inside
Dynamics have changed for foreclosure investors, requiring different tactic. Disclosure law is also discussed.
March 2007: G Line Extension Benefits Brooklynites
Describes the additional stops that are extending G train service deeper into Brooklyn.
March 2007: Mixed-Use Developers Share Their Secrets
This article summarizes a report on development priorities taken from more than 1,000 experts, using Cranford Crossing as a case study.
March 2007: Olympic Payoff
Despite New York City's losing bid for the 2012 Olympics, many of the plans and projects have moved forward. Some attribute the benefits of this activity to the initial plans set forth to accommodate the Olympics.
March 2007: Big Deal Fueled by Diverse Buyers
Analyzes the variety of investors that contributed to last year's hot sales market in New York City
March 2007: Mezzanine Options Abound
As mezzanine lending grows more popular, due diligence is warranted by both the lender and the borrower.
March 2007: NYU tops student Survey of Coveted Schools
NYU remains the most popular college among students for the third year in a row.
March 2007: Behind the Record Deal
This article goes behind the scenes of the record breaking sale of 666 5th Avenue. It discusses the fast paced market in New York City and how investors need to make decisions quickly.
March 2007: London-Other New York
Tackles the ongoing debate of whether New York or London is the capital of the world and what to expect for the future.
March 2007: Fight for the Right to Build
Analyzes potential development strategies to promote affordable housing in New York City.
March 2007: Ground Floors Take Off
Discusses the growing value of retail space in Manhattan, which has quadrupled in the past four years.
March 2007:
Cure Your HR Ills, Fortune
The fast growing industry of professional employer organizations (PEOs)
can help smaller businesses compete with the stronger HR departments
of larger businesses.
March 2007: Wall
Street's Mortgage Pain, New York Post
Discusses recent trends in residential mortgage-backed securities and
how a rise in delinquency rates might affect Wall Street.
March 2007: Employees From Hell, Fortune
While not a real estate related article, this is informative reading
for anybody who runs their own business.
March 2007: New Hope for Old Buildings
New innovations have made it possible to submeter all types of buildings, including old tenement buildings, for heat.
March 2007: From Bricks to Glass Towers
The Landmark Group's preference for modern looking buildings is met with resistance from preservationists.
February 2007: Queens Offices Get Company, Clout
Builders are beginning to look at Queens for the development of office space as an alternative to Manhattan's high rents.
February 2007: How to Save Garment District
Zoning laws in the Garment District has led to depressed real estate causing the city to think about lifting the current restrictions.
February 2007: Builders Standing Tall
New York City's population and construction activity has significantly grown in the past ten years and is expected to keep increasing.
February 2007: Complex, Contradictory Robert Moses
In light of the three New York exhibitions, this article summarizes and discusses Robert Moses' life and impact on New York City.
February 2007: Hedge Your Loan
There's never been a better time to use the hedges provided by commercial banks to stretch today's low interest rates into the future.
February 2007: Kensington
This is a small blurb that covers Leviev Boymelgreen's 59-unit condominium near Prospect Park.
February 2007: Enterprising Immigrants
The number of new businesses in immigrant heavy neighborhoods of New York has skyrocketed in recent years.
February 2007: Queens Size
Examines why Queens has become an increasingly popular destination for young professionals to live. The article highlights and explores Jackson Heights, Forest Hills, and Sunny Side.
February 2007: Three Aspects of New York's Master Builder, The New York Times
Provides information on three Robert Moses exhibitions. For any of
you interested in how New York has evolved these exhibit should not
be missed.
February 2007: The City's
Vast Condominium Potential, The New York Sun
Analyzes various development sites in New York City and the experience required to get involved in such projects.
February 2007: An Urban Renaissance In Yonkers: The City has almost $6 Billion worth of development in the Pipeline, New York Real Estate Journal
This article elaborates on its title.
February 2007: Retail Condos Latest Objects of Desire, Crain's NY Business
As space tightens in New York, there is increasing popularity for stores
to purchase retail space of Condominiums.
February 2007: Will Other Mortgage Dominoes Fall
This article analyzes activity in the mortgage-backed market in recent years and anticipates unfavorable after effects of the imprudent "mortgage mania."
January 2007: Office Developers Pick up Pace
As vacancy levels near historic lows and rents approach $200 psf, developers are trying to take advantage of the bullish commercial market.
January 2007: The Records of 2006, The Real Deal
Residential and commercial real estate records of 2006 for New York
City are discussed.
January 2007: That's a Wrap, New York Law Journal
Wrap–around mortgages help borrowers save money when rates are rising
and prepayment penalties are high.
January 2007: Rehabilitating Robert Moses,
The New York Times
This article discusses the legacy of Robert Moses and the three exhibitions
in New York that portray his accomplishments.
January 2007: Higher
and Higher, REBNY
Zoning lot mergers are discussed.
January 2007: Keeping New York Competitive, The Center for Rethinking Development
New York and London are neck and neck for the title of financial capital
of the world. New York's rigid immigration and visa policies
are mentioned as a major drawback that is often overlooked.
January 2007: 2007: A Look Ahead, The Real Deal
Features interviews with top players in the real estate industry
and their projections for the real estate market.
January 2007: Bloomberg Tries for Legacy in Crafting 25-Year Plan,
Crain's NY Business
Explores Bloomberg's plan to accommodate the one million more
New York City residents expected in 25 years.
January 2007: Ready, Set, Lend!,
Apartment Finance Today
Experts are anticipating that lenders will see less activity and more
competition. This will swing the market toward the borrowers making underwritings
more liberal.
January 2007: Can
a Corporation Perform a 1031 Exchange?,
New York Real Estate Journal
Explores what conditions allow for a corporation to perform a 1031
tax exchange.
January 2007: Retailers Love Happy Feet, The
Real Deal
Explores the dynamics of the top 10 locations for foot traffic in Manhattan.
January 2007: Room for the Seedy Side of Life, The Real Deal
A tightening market in Manhattan is reducing the number of illegal
businesses operating in the city. This article examines landlord and
broker attitudes toward illegal uses and the factors that allow them
to exist.
January 2007: Southern
Exposure, Time Out New York
Lower Manhattan is seeing large numbers of upscale residential developments.
Neighborhoods below Chambers are expected to see more and more retail
activity.
January 2007: Preferential Rent, The New York Law Journal
Is a good discussion concerning preferential rents.
January 2007: Deal or No Deal, Time Out New York
Businesses that leave commercial spaces in the Financial District are creating room for spacious residential units. The residential market is now flourishing with residential buildings, often including luxurious amenities.
January 2007: NYC Economy
Grew 2.4% in third Quarter, Crain's
NY Business
Although New York City's economy is slowing down, it is still growing more rapidly than the rest of the nation.
January 2007: NYC
Sidestepping U.S. housing Downturn, Crain's
NY Business
Sales prices and rental rates in New York City stay relatively high as the residential market in the rest of the country weakens.
January 2007: SoHo Bounces Back as a Fashion Center, The New York Times
SoHo's retail market has reemerged since 9/11 as a popular fashion
center, densely populated with foreign companies and tourists.
December 2006: Buses
Trains and Automobiles, Center for Rethinking Development
Analyzes the growing traffic problem in New York City and potential
strategies to improve the situation.
December 2006: It's Personal, The
New York Law Review
Discusses the issue of when items treated as personal property for
depreciation purposes must also be treated as personal property for like
kind exchange purposes.
December 2006: What Happens when One Partner does not Want to Exchange, New York Real Estate Journal
This article examines the details of consent and agreement among principles
in regards to 1031 tax exchanges and when restructuring a partnership
is warranted.
December 2006: Office Sales Breaking the Bank in Manhattan, The
Real Deal
Price per square foot values continue to rise in a robust office market.
December 2006: Newly Upscale Billyburg Braces for a Slowdown, The
Real Deal
Analyzes a decrease in demand for Williamsburg's residential market. Confusion and inconsistencies can be seen in aggressive promotions and advertisements.
December 2006: Developers Abandoning Condo Deals, Crain's
NY Business
Now that the condo market is softening, many developers are selling
their projects or switching gears, catering to a more appealing hotel
market.
December 2006: If You Lived Here, You'd Be Cool By Now, New York Magazine
In a fast paced New York City market, where neighborhoods rapidly change,
New Jersey City could be the next best place to live.
November 2006: Building Prosperity,
The New York Times
Proposes development strategies that can help the population of New York thrive. The article alludes to Ed Koch's success and how Elliot Spitzer can follow his example.
November 2006: In Unlikely Brooklyn Spot, a Diverse Retail Strip Develops, The Real Deal
Brooklyn's Columbia Street Waterfront District is experiencing
an unanticipated resurgence
November 2006: Condo, What Condo?, The
Real Deal
This article reiterates the softening condo market and the new hotel
project activity. The article also discusses when committing to the rental
market can be an appropriate strategy.
November 2006: Hedging Bets, Wall
St. Journal
A new real estate index, called REXXindex, will allow investors to
bet on the performance of multiple real estate markets with more liquidity.
November 2006: Public/Private Ventures,
New York Law Journal
Describes how New York's flourishing real estate market is opening
doors for the city's major civic institutions. The article discussed
how institutions located in prime areas can redevelop their facilities.