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 »
Have empty New York hotels and offices turned into ‘perfect targets’ for commercial real estate developers?
Commercial real estate may have been hit hard this past year due to spikes in remote working and the emergence of “post-COVID ghost towns.” However, has the opportunity for converting empty offices and hotels turned into a feeding ground for developers? Must the solution always result in some form of housing option? In a recent… Read more »
5 Key Medium-Term Factors Shaping Commercial Real Estate in NYC
For those of us invested in New York City’s commercial real estate (CRE) — either financially or emotionally — getting through 2020 was like processing the five stages of grief: First came denial, followed by anger, then bargaining, onto depression and, finally, acceptance. After all, one in seven chain stores permanently closed in 2020, along… 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 »
De Blasio to End Remote Working for NYC’s 80,000 Municipal Workers
The nation’s biggest municipal workforce is being called back from remote working a year after the coronavirus pandemic shut office doors. According to The New York Times, Mayor Bill de Blasio has decided that the 80,000 municipal office employees who have been working from home since last March will have to report back to the… Read more »
The Commercial Real Estate Brokerage Tech Revolution Starts With Automation
Commercial real estate brokers are slow to adopt tech.” How many times have you heard that? In a way, it’s true. Compared to the massive amount of tech adoption that has happened in nearly every industry, brokers are still largely doing business much as they have for the last few decades. But here’s the thing:… Read more »
How blockchain is shaking up commercial real estate
When it comes to investing in commercial property, Aditya Koparde and Shaily Srivastava want to be the new kids on the blockchain. “We did our MBAs together, and one day when we were having lunch, we wondered how technology might disrupt the real estate investment market,” Ms. Srivastava says. That lunch nearly three years ago… Read more »
U.S. 2021 Retail Vacancy Rate May Rise To 7-Year High After Record Store Closings
Coronavirus has led to a record number of U.S. store closings in 2020 and to Manhattan’s retail rents plunging to historic lows, and the toll on the brick-and-mortar sector may not ease any time soon. After a record 12,200-plus store closing announcements from major chains in 2020 that translate to a record 159 million square… Read more »
During the Pandemic, They Are ‘Other Boroughs,’ Not ‘Outer Boroughs’
When it comes to the New York City investment sales market, the perception is, typically, that Manhattan is king and the outer boroughs are runners-up. However, during the pandemic, this long-standing perception has not been true. My friend, Josh Muss — who constantly reminds me that they are not the “outer boroughs,” they are the… Read more »
Landlords lead push to get city back to work
Some of New York’s leading commercial landlords are joining the campaign to get the city back to work. Governor Andrew M. Cuomo announced that 21 city landlords are part of his New York Forward COVID-Safe Offices partnership to expand access to COVID-19 testing for employers. As part of the initiative, the landlords have committed to… Read more »
With Federal Help On The Way, Commercial Rent Relief Is Real Estate’s Next Big Focus
Check out BisNow’s Podcast, “Make Yourself at Home,” which examines the effects of the American Rescue Plan, a $1.9 trillion stimulus package signed into law last week, on New York City commercial real estate. New Yorkers are hoping the funds will go a long way to easing the city’s woes and those of the real… Read more »
Confidence in Commercial Real Estate Values Varies Widely by Sector
Roughly one year into the coronavirus outbreak, commercial real estate owners are starting to fully price in the effects of the global pandemic. There are endless ways to analyze the impact of the past year on commercial property valuations, but one useful metric is tracking the prevalence of rent gains across the various property types…. Read more »
How retail owners can take advantage of new trends
The retail industry and its real estate component are evolving more rapidly than ever. Today, the typical consumer is much better educated and price savvy about their merchandise choices than they had been in the past and often know in advance what specific item they want to purchase. To complicate matters, the competition from online… Read more »
New York City CRE Sales Reach $11B in H2: REBNY
The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, today reported that broker confidence rebounded in the last quarter of 2020, after three consecutive record lows, as the COVID-19 vaccine continues to roll out throughout the City and State. According to REBNY’s Q4 2020 Quarterly Real Estate Broker Confidence… Read more »