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NYC Emissions Law Discourages Dense Office Buildings, Lacks Clarity: Report


A new report from the Citizens Budget Commission (CBC) found several issues with the city’s new emissions reduction law for buildings, including a lack of clear guidance from the New York City Department of Buildings ahead of the law’s first deadline in 2024, no realistic framework for landlords to purchase renewable energy credits, and rules that discourage densely populated office and… Read more »

Mayor Unveils Plan to Prop Up Crumbling BQE Until 2040


It’s been five years since the last fight over New York City’s most controversial development tax break — 421a — and developers are already preparing for the worst when the current version of the tax exemption expires in June 2022. No one in the real estate industry knows what the state legislature will do. Will… Read more »

The 2021 Brooklyn Power 100


Brooklyn is bursting at the seams with political power. The current mayor – and all but certainly the next mayor – hail from the borough. So too does the majority leader of the U.S. Senate and, perhaps, the next speaker of the House of Representatives. Brooklyn is also home to the state attorney general, a… Read more »

Here’s How CRE Sales Can Truly Return to Pre-Pandemic Levels


by Neil A. Dolgin The Wall Street Journal (WSJ) recently reported on investors who are diving back into commercial real estate and driving this year’s sales volume to pre-pandemic levels. Combined with lower interest rates, they are reporting a renewed optimism that the worst of the pandemic may be behind us. Driving that conclusion is… Read more »

Food & beverage fortifying commercial NYC real estate market


Shrugging off the pandemic’s impact on sales, supply and hiring, food-and-beverage uses continue to lead all retail-leasing categories in the Big Apple – and the lead even grew larger over last year. We had a look at some not-yet-released data which show the extraordinary resilience of edibles and drinkables in today’s historically challenged retail-leasing market…. Read more »

New York’s Cannabis Cultivation Space Race Stuck At Starting Block


As dozens of would-be cannabis retailers are looking to set up shop in New York City storefronts once licenses are approved, their suppliers are planning to grow their businesses outside of the Big Apple. But exact locations for most of these prospective cultivators are still up in the air, experts say, as the state government delays its… Read more »

What might development look like with Eric Adams as Mayor?


With Borough President Eric Adams almost certainly becoming New York’s next mayor in January, real estate developers and community advocates alike are rushing to understand the future of land use policies under the city’s self-described “complex” next chief executive. While Gotham deals with a severe housing shortage, and ranks as the most expensive city in… 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 »

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 »

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 »

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 »

Why CRE lenders want to see infrastructure investment


Many in the commercial real estate industry are speculating whether 2021 may finally be the year that the U.S. Congress funds a bipartisan comprehensive infrastructure plan. Ambitious proposals before U.S. Congress would modernize roads, bridges, ports and more—and conceivably serve as a strong economic stimulus. The CRE community may have plenty of reasons to get… Read more »

It’s starting to look like New York City will be just fine


As the wealthy fled for the Hamptons, local restaurants shuttered their doors, and Times Square went quiet during the onset of the pandemic, many declared the city dead. But a year after it became the coronavirus epicenter of the world, NYC is starting to shine once again. Despite a seeming exodus of the city’s richest,… Read more »

Q&A With Neil A. Dolgin


What kinds of changes are you seeing in the commercial real estate marketplace post-pandemic… and is this the new normal? Small is the new premium.  The market for smaller spaces is active with an influx of commercial customers coming to us with specific needs and expectations that we are trying to meet and exceed through… Read more »

Eight Ways The Biden Tax Plan Could Affect Your Real Estate Business


  President-elect Joe Biden’s policies and tax plans are becoming increasingly more relevant as his time in office begins. When it comes to the real estate industry or investing in general, it’s important to pay attention to policies that will affect you as a business owner so you can make the necessary adjustments. The Biden… Read more »

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