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REBNY Report Shows New York City Construction Activity Outpacing Year-Over-Year Totals


The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, today released its Quarterly New Building Construction Pipeline Report for Q2 2022. Construction activity in Q2 2022 again outpaced historical averages. Offering good-paying jobs and essential for attracting and retaining investment, employers and residents, this construction activity represents significant progress… Read more »

This Time, Corporate Executives Mean Business On The Return To Office


Leaders at major companies across the U.S. want workers back this week, and they mean it this time. Labor Day 2022 is the latest, and starkest, line in the sand drawn yet by corporate executives who think their workers should be spending more time in the office. Companies have been trying to lure workers back… Read more »

Meeting Emissions Mandates in New York’s Buildings, Explained


Building owners are scrambling to meet new rules on greenhouse gas emissions. New York’s congressional candidates do the last-minute primary shuffle. In 2019, the City Council enacted a package of bills to reduce the greenhouse gas emissions that cause climate change, including one bill that became Local Law 97 and set limits for emissions from… Read more »

How Today’s Economy is Affecting Commercial Real Estate


by Neil A. Dolgin Fall has arrived with an economy still finding its way. There is low unemployment which bodes well, but the challenges of high interest rates and inflation are increasing concerns about the possibility of a recession.  Interest rates are already up 2% this year, and inflation is still soaring despite a downturn… Read more »

Commercial Real Estate Is Facing a Triple Threat: Interest Rates, Inflation, and Recession


Commercial property sectors, other than office, have recovered well after the shock of the pandemic. Generational demographics and a particularly robust job market have sustained demand, and rents and occupancy are continuing to rise, albeit at a slower pace than last year. The fundamentals are good, yet property investors are appropriately nervous. They face the… Read more »

More Affordable Parts of Brooklyn, Queens See Big Rent Increases


As the average rent in Manhattan surpasses $5,000 a month for the first time, the latest report from brokerage MNS finds that even more affordable parts of Brooklyn and Queens saw some of the largest rent increases in the past month. In Brooklyn, MNS finds that average rents increased in 15 of the 16 neighborhoods… Read more »

The Incredible Shrinking Office


In a week sure to cause office brokers and landlords some agita, it seemed nary a day went by without some major company announcing a downsizing of its office space. First it was BuzzFeed consolidating two 217,000-square-foot Manhattan offices to only 107,000 square feet at the former New York Times headquarters at 229 West 43rd… Read more »

Penn Station Plan Makes a High-Stakes Bet on the Future of Office Work


In a bid to reshape Midtown Manhattan, Gov. Kathy Hochul and New York State officials are pushing ahead with one of the largest real estate development projects in American history: 10 towers of mostly offices around Penn Station, the busiest transit center in the country. The buildings would help pay for the renovation of the… Read more »

Commercial Property Prices Ease in July


Commercial real estate property prices pulled back a fraction in July from the new heights reached a month earlier. But there were still signs of healthy demand. Price declines hit across sales of all dollar amounts and in all markets. The higher-dollar deals in both large and small markets dropped the furthest, 0.8% versus 0.3%… Read more »

RIP — Allison Chambers


With deep sorrow and heavy hearts, we at Kalmon Dolgin Affiliates announce the untimely passing of our longtime colleague and dear friend Allison Chambers.  Allison was an integral part of our firm and our family for over 25 years.  Through hard work, determination and perseverance, Allison achieved great success in the commercial real estate field… Read more »

FDIC signals greater scrutiny of commercial real estate loans


More than 98% of banks engage in commercial real estate lending, and commercial real estate loans are the largest loan portfolio type for nearly half of all banks, the FDIC said in its report. While dollar volume of CRE loans is at a historic high, and a growing number of banks report CRE concentrations, lending… Read more »

Self-Storage Rents Rise 20 Percent Nationwide in Q2: Report


The self-storage industry continued its steady pandemic-era boom with asking rents rising a whopping 20 percent in the second quarter compared to the same time as last year, but demand for storage space might be cooling. The Commercial Observer reported that average asking rents for self-storage facilities in the second quarter stood at $1.35 per… Read more »

US Commercial Real Estate Values Threatened by Stagflation


Stagflation is likely to lead to lower US commercial real estate (CRE) valuations, Fitch Ratings says in new analysis of factors that could affect CRE prices. Inflation and weak economic growth could result in modestly growing or declining nominal net operating income (NOI) from soft tenant demand and elevated capitalization (cap) rates reflecting a higher… Read more »

Is the Economy Headed in the Right Direction?


Is the Economy Headed in the Right Direction?  by Neil A. Dolgin I’ve always been of the mindset that for any business, an economic downturn is an opportunity for innovation and transformation rather than a barrier to progress. While it’s hard to be certain where we’re headed in today’s economy, there is some good news… Read more »

Despite Economic Upsets, Investment in Commercial Real Estate Holds Steady


Data from the Capital Markets Report has found that investments in U.S. commercial real estate totaled $166.8 billion in the second quarter of 2022, a glimmer of good news for the sector. Considering the explosive buying spree that took place at the end of 2021 (where investment volume reached $322.3 billion) it may seem like… Read more »

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