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Globest Presents Real Estate Forum’s Picks For Best Bosses in 2023


KALMON DOLGIN & NEIL A. DOLGIN As a fourth-generation family business, Kalmon Dolgin Affiliates boasts a company culture that values honesty, respect, hard work and fair-ness. As a teenager, Kalmon Dolgin helped his dad, brothers and other agents before officially joining the firm, which was founded in 1904, in 1968. He was then joined by… Read more »

The Coming Commercial Real Estate Crash That May Never Happen


This year’s refinancing cliff is the real rub, says Scott Rechler, CEO of RXR, a closely-held Manhattan development firm. Loans that come due will have to be financed at higher interest rates, which will mean higher payments even as vacancy rates rise or remain high. Higher vacancies mean some buildings are worth less, so banks… Read more »

Buckeye Partners Sells Bronx Petroleum Storage Site for $74M


Petroleum distributor Buckeye Partners sold its Bronx gas storage site at 1020 and 1040 East 149th Street for $73.5 million, having purchased it for just $10 million in 2013 from energy firm Hess, according to property records. An entity that shares an address with energy supplier Sprague Energy bought the three buildings, used to store… Read more »

Meet the New Normal in Commercial Real Estate Investment


In 2022, the real estate and real estate capital markets suffered their third major disruption in just 15 years. The real estate market has benefited from crisis management, responded to by the Federal Reserve. Mezzanine loans and preferred equity have been the go-to subordinate financing for owners in need of additional funds to restructure and/or… Read more »

6 Overlooked Investment Opportunities in Commercial Real Estate


In commercial real estate, smart owners exploit every available opportunity to maximize their net operating income (NOI) and create new, leveragable equity. Over time, small changes can generate millions of dollars in cash flow and added value, which will be critically beneficial as you grow your CRE portfolio. From parking to vending machines, these profit-boosting… Read more »

How new grocery delivery apps are impacting New York’s real estate market


New quick-commerce grocery delivery companies sweeping New York City have several things in common: they’re all app-based, their couriers primarily travel on electric bicycles and scooters, and their goal is to get customers their groceries within 20 minutes. The speed of delivery is the backbone of their business model, and they accomplish it with “dark… Read more »

Where is Commercial Real Estate Headed?


by Neil A. Dolgin Welcome to 2023 and the questions that are on everyone’s mind:  Will we have recession? Will it hit hard? Will there be a soft landing? Economists expect economic growth to slow this year, and we will narrowly avoid a recession. Wherever I turn, however, everyone has their own point of view. … Read more »

Why Eric Adams’ Zoning Changes Are Vital For A Post-Pandemic New York


New York Mayor Eric Adams has come forward with significant land use proposals in the past few weeks, all under the rubric of “City of Yes.” Although much of the attention is focused on Adams’ proposals to generate 500,000 new housing units, there is another significant component of City of Yes that has been overlooked:… Read more »

Commercial Real Estate Pricing Growth Slows to Pace Not Seen Since 2020


U.S. commercial property price growth slowed in November to an annualized pace not seen for more than two years, according to MSCI Real Assets. The RCA CPPI National All-Property Index rose 4.9% from a year ago and fell 0.4% from October, representing an annualized decline of 4.6%. The industrial index maintained its spot as the… Read more »

What Would It Take to Turn More Offices Into Housing?


There’s about 998 million square feet of office real estate across the United States that’s available but in search of a tenant. That’s thousands of old cubicles, conference rooms, pantries and cafeterias sitting in ghostly quiet. That’s a vast amount of empty space — nearly 13 percent of the market — that could be turned… Read more »

The party is over in commercial real estate. Here’s what to expect in 2023.


An era of cheap debt that helped lift prices on hotels, office buildings and other U.S. commercial properties to dizzying new heights has ended. Borrowers thirsty for financing have watched mortgage rates roughly double in 2022 from the 3% lows, spillover from the Federal Reserve’s inflation fight that could cost several million people their jobs…. Read more »

New York City Comptroller Brad Lander Releases Annual Report on the State of the City’s Economy and Finances


New York City Comptroller Brad Lander released the annual “State of the City’s Economy and Finances” report. This report provides an analysis of the City’s fiscal health and position ahead of the annual budget process, which begins early in the new year. Despite higher-than-usual uncertainty, major indicators including strong job growth point toward continued economic… Read more »

More Turbulence Expected for NYC’s Real Estate Market in 2023


After a less than stellar 2022 for the New York City real estate market, the new year isn’t expected to bring much relief for landlords. An economic slowdown, rising interest rates and remote work will continue to weaken office leasing and are expected to cause the value of real estate sales to drop 15.9 percent… Read more »

2023 Outlook on Commercial Real Estate


The 2023 commercial real estate outlook indicates there may be challenges ahead. Retail is at a crossroads, and the future of office space is unclear. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. But there are a few bright spots in the commercial real… Read more »

What’s in Store for Commercial Real Estate


The 2023 commercial real estate outlook indicates there may be challenges ahead. Retail is at a crossroads, and the future of office space is unclear. Plus, supply chain issues persist, and inflation is near 40-year highs, prompting the Fed to steadily increase interest rates. But there are a few bright spots in the commercial real… Read more »

2023 Commercial Real Estate Outlook


by Neil A. Dolgin The outlook for commercial real estate in 2023 is opportunistic. While we see continued uncertainty and challenges ahead, we also see some unique opportunities. Inflation remains high and interest rates are increasing. Yet the industrial sector remains strong. Retail is growing. And the medical office sector continues to thrive. So how… Read more »

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