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The City is Coming Back


by Neil A. Dolgin Since the beginning of the COVID-19 outbreak eighteen months ago, New Yorkers have become all too familiar with empty office buildings and store fronts on practically every block. It’s also true that the economic fallout has heightened some already-existing trends as companies and retailers continue to grapple with how to best… Read more »

Industry gets behind city’s cultural reawakening


New York’s Real Estate and Construction Council is throwing its weight behind the rebuilding of the city’s cultural landscape. The group hosted the first in-person, live performance celebration at Lincoln Center since it was forced to cancel its programs and close its doors to the public last March. Jonathan L. Mechanic, chairman of Fried Frank’s… Read more »

New York Releases Zoning Plan for Gowanus Manufacturing Area


As New York inches forward with the controversial Gowanus neighborhood rezoning in Brooklyn, the Department of City Planning (DCP) has released a plan for the industrial area along the polluted Gowanus Canal, which calls for denser commercial development, relaxed parking rules, and infrastructure and street upgrades. The Gowanus Industrial Business Zone includes a diverse array… Read more »

LeFrak City to Host 150-Station Electric Vehicle Charging Hub


LeFrak City, that sprawling example of workforce high-rise housing in the Corona section of Queens, is to become the scene of an experiment to convert the electric car from curiosity to as common as your basic gas-powered Chevy. The 4,605-unit, 20-building complex off the Long Island Expressway is to house one of the the largest,… Read more »

Developer Seeks Rezoning to Replace Greenpoint Warehouse with Apartments


A new, nine-story building is being planned a block away from the waterfront in Greenpoint. The developer is asking for a rezoning in order to construct the building, located at 79 Quay St. The building will have a total of 83 apartments, 25 of which will be affordable, according to Einhorn. Parking in the cellar… Read more »

Construction Begins on Amazon Warehouse in Red Hook


Construction has started at the future Red Hook warehouse that will soon be home to an Amazon distribution center. Located at the former site of the Revere Sugar Factory at 280 Richards St., on a pier sandwiched between IKEA and the former location of Fairway, it was long planned to be the home of a… Read more »

This major pandemic protection for commercial tenants is coming to an end


After more than a year of pandemic-related tenant protections being enacted and extended, one of the major measures from the city is to expire on Wednesday–and this time it will not be renewed. The legislation set to expire June 30, and known as Intro. 1932, suspended personal liability provisions in leases, which allow landlords to… Read more »

Mall Landlords Look to Charter Schools to Fill Vacant Space


Time for a field trip to the food court. The coronavirus pandemic pushed malls — already struggling to survive a “retail apocalypse” — to the breaking point. But the children, specifically schoolchildren, might be the future, as more malls begin hosting public charter schools in need of more space. Dozens of charter and public schools… Read more »

Economic Experts Predict Uptick In Commercial Real Estate Activity In 2021


As states and cities across the U.S. ease pandemic-induced restrictions, economists believe much of the pent-up demand and consumer savings during the pandemic will be pumped into the economy in 2021. As a result, a commercial economic boom may also be on the horizon, according to reports from speakers at the Commercial Economic Issues and… Read more »

How does KDA help clients think out of the box to achieve goals?


by Neil A. Dolgin As owners and managers of dozens of properties throughout NYC and across the US, we know what we want to see from each in terms of revenue, tenant mix, and branding. And we are willing to reimagine our buildings in more competitive ways, especially at a time of renovation, a topic… Read more »

Investors Bet on Commercial Real Estate


More than a year into the pandemic, high-rise office buildings are largely empty. About one of every two hotel rooms is unoccupied. Malls are struggling to attract shoppers. And yet by most measures, the U.S. commercial real-estate market is in remarkably solid shape. Prices fell far less than after the 2008 financial crisis and are… Read more »

Tech Takes Over From Finance as Manhattan’s Office Leasing Driver


For decades, sure. Banks and ancillary industries, such as insurance and the real estate industry, itself, animated the borough’s commercial property. The acronym FIRE — finance, insurance and real estate — became literal shorthand to describe where most office leasing activity came from in Manhattan. That’s changing. Now, it’s technology companies driving the leasing market… Read more »

Clinton Hill Developmemnt Tops Out Along Fast-Growing Stretch of Atlantic Avenue


A nine-story residential building is joining the fray on a quickly developing stretch of Atlantic Avenue in Clinton Hill. With an address of 540 Waverly Avenue, the building stretches along Atlantic from Waverly to Clinton Avenue. Construction has been moving quickly, and the building recently topped out. Permits show there will be a total of… Read more »

Judge Lifts Gowanus Rezoning Pause, Approves June Hybrid Public Hearing


The Gowanus rezoning can once again move ahead after a Brooklyn Supreme Court Judge accepted the city’s plans for a hybrid hearing on the proposal Tuesday, according to officials. Justice Katherine Levine on May 11 lifted her five-day pause on the rezoning’s Uniform Land Use Review Procedure and gave her thumbs up to the Department… Read more »

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