The Coffee Bean & Tea Leaf Expands to New York Area, Starting With Store in Fort Greene
The Los Angeles-based specialty beverage brand The Coffee Bean & Tea Leaf is expanding to New York, with the first store having opened Aug. 28 in the Brooklyn neighborhood of Fort Greene. Franchisee Hudson River Coffee & Tea plans to open a number of stores across the New York metro area, including a second Brooklyn… Read more »
City Council Pushing Law To Reduce Red Tape For New Building Openings
New York City is considering introducing a new law that would change the way owners of new developments and revamped buildings access their certificate of occupancy. The bill is sponsored by Council Member Robert Cornegy, and it would pave the way for owners to access an interim certificate of occupancy for parts of properties where… Read more »
SIOR: More CRE Transactions Stay on Schedule
The commercial real estate industry is gradually getting a handle on how to do business during a pandemic, according to the results of the August Sentiment Survey from SIOR. Back in April, only 26.1 percent of transactions were proceeding according to schedule, but that figure increased to 45.2 percent in the latest survey. Parallel to… Read more »
What We Can Learn from Lewis and Clark
by Kalmon Dolgin During breaks from business-related work and trying to maintain sanity, I have been reading the story of the Lewis and Clark expedition, Undaunted Courage. I am struck by the similarities and lessons that we can learn from this venture which took place nearly 220 years ago, yet it remains relevant to the… Read more »
Kalmon Dolgin Affiliates Inc. Named a 2019 CoStar Power Broker!
Kalmon Dolgin Affiliates, Inc.(KDA), one of the New York metropolitan region’s leading commercial and industrial real estate firms, has been named a 2019 CoStar Power Broker, the industry’s most prestigious award from CoStar Group, honoring the very best brokers and brokerages in commercial real estate. KDA won this award based on overall transaction volume as… Read more »
Modular Is Poised For Greatness — If Only CRE Understood How To Use It
Nationally, modular construction accounts for just about 5% of all commercial construction, per the Modular Building Institute. But it is gathering strength, and market value for modular in new real estate construction could hit $130B in Europe and the U.S. in the next decade, according to McKinsey & Co. In New York City, where real… Read more »
The Death of a Co-working Startup Highlights User Experience vs. Unit Economics
Stroll through any major city in the United States and you’re sure to find an excess of completely built out, potentially useful, vacant spaces. Whether it’s a restaurant only open for dinner or a vacant retailer, there is no lack of finished, usable space. Spacious saw these vacancies as opportunities and sought to occupy them… Read more »
The 50 biggest NYC office sales of 2019
2019 turned into a pretty good year for New York City’s investment sales sector. Rising rents stoked investors appetite not only in Manhattan, but in Brooklyn, Queens and the Bronx. And tech giants Amazon, Google and Facebook continue to expand their presence in the city, signaling to investors that the industry is thriving in the… Read more »
Amazon distribution center planned for Carle Place site
Developers are planning to convert a former retail site in Carle Place into a distribution center for Amazon. The 7.4-acre site at 2 Westbury Ave. was formerly occupied by a 56,000-square-foot Waldbaum’s supermarket that has been shuttered and vacant for more than four years. Long Island Business News Photo by Amazon
After Historic Low, What’s Next for Net Lease Cap Rates?
Cap rates remain at low levels due to the historically low interest rate environment combined with a robust economy. Despite the decrease in cap rates, the spread between asking and closed cap rates for retail and office properties widened by 6 and 2 basis points respectively. Real estate investors believe we are in the late… Read more »
Resident and Tenant Retention Strategies for 2020
For managers of commercial and residential buildings, retaining tenants and residents is a perennial item on the to-do list. Whether it’s adding new high-tech features or fine-tuning procedures, the time is right to take a hard look at retention strategies for 2020. Owners and property managers must continuously ask themselves a crucial question: What’s the… Read more »
Brooklyn Office 4Q: Rents remain constant as new developments enter the market
In the Brooklyn office market in 4Q 2019, the average asking rent ended the fourth quarter at $52.33/SF, down 0.9% from the prior quarter but still 0.7% higher from this time last year, according to a report on the Brooklyn Office Market (4Q) from Newmark Knight Frank. The availability rate rose 30 basis points to… Read more »
Watch Kalmon and Neil Dolgin on Building NY: NY Life Stories – CUNY-TV – Jan 26th
Watch Sunday, January 26 on CUNY-TV (12pm noon) Building NY: NY Life Stories The Dolgin Family; Four Generations of a family business As told by Kalmon Dolgin & Neil Dolgin, Co-Presidents, Kalmon Dolgin Affiliates Watch as Kalmon and Neil Dolgin tell the 116-year story of Kalmon Dolgin Affiliates. A new 30-minute interview by host Michael… Read more »
How Commercial Property Owners Are Adapting to a Greener World
This is likely not news to anyone in the industry, but commercial buildings have immense energy needs. This is putting a great strain on the nation’s power grids. According to the U.S. Department of Energy, the annual electricity use for commercial building space is an incredible 14 kWh per square foot, which is the… Read more »
Hilton’s Motto Will Be Brooklyn’s Tallest Modular Hotel
A slender, 26-story hotel that’s planned for Downtown Brooklyn could claim the crown of Brooklyn’s tallest modular hotel. The Motto by Hilton will replace a single 33-foot wide townhouse at 88 Schermerhorn Street, and rise over 300 feet, making it the borough’s first high-rise modular hotel. The Brooklyn property is slated to be… Read more »
Lenders and Brokers Confident About Fundamentals, Immediate Future of CRE
From the Commercial Observer’s fourth annual Fall Financing Commercial Real Estate Forum: As the capital markets landscape continues to become increasingly intricate and sophisticated with every passing year, lenders and investors have likewise become more nimble and astute, showcasing a heightened sense of discipline when it comes to their respective tolerance for risk. This has… Read more »