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Fed’s Rate Hikes Aren’t Bulldozing Commercial Real Estate— Yet


The Federal Reserve’s announcement of another 0.75 percentage point interest rate increase continues the central bank’s grim war with inflation. Higher rates are doing damage across the economy, which has never stabilized after the Covid-19 shock. But commercial real estate, vital to cities’ economic and fiscal well-being, hasn’t taken a big hit—yet. Ever-higher interest rates… Read more »

Commercial Property Prices are Down 13 Percent Due to Higher Interest Rates


The impact of higher interest rates is beginning to take its toll on commercial real estate prices. Commercial property prices have fallen nearly 13 percent so far this year, according to Green Street’s Commercial Property Price Index in October. The Index reports that commercial real estate prices were down 7.3 percent alone in October. The… Read more »

A radical new ploy to lure Google and other firms to Brooklyn


When apartment landlords have empty units, they lure prospective tenants with cheaper rents and free perks. Office landlords haven’t historically offered such grand concessions to fill vacant square footage — until now. The New York City real-estate developer Rubenstein Partners is willing to offer a nearly 50% discount on rent and more flexible terms than… Read more »

Changes to Supply Chain Will Benefit Commercial Real Estate


Online shopping is now the preferred method for 68% of consumers, which has increased significantly since the beginning of the pandemic. Since the pandemic began, supply chain issues have impacted the eCommerce sector significantly. What does this mean for the commercial real estate industry? Keep reading as we discuss what is causing the changes to… Read more »

Finding Good News in NYC Commercial Real Estate


by Neil A. Dolgin After a strong economic rebound for commercial real estate in 2021, data from the National Association of Realtors (NAR) indicates a slowdown in the growth of commercial real estate in 2022 resulting from the effects of the Covid-19 pandemic, rising inflation, higher interest rates, and geopolitical events that have caused a… Read more »

Lenders favor resi projects in big month for outer-borough loans


Kings County reigned in July as lenders pumped billions into outer-borough real estate projects. The month’s 10 biggest loans totaled $1.8 billion, more than five times June’s total, and about twice as much as last July — closely mirroring a similar rebound in Manhattan. Brooklyn captured seven of the month’s 10 largest commercial loans, while… 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 »

Four Things To Know Before Making the Switch from Residential Real Estate to CRE


by Neil A. Dolgin For New York City’s ultra-competitive residential brokerage community, these are uncertain times. Amidst an already-softened sales market and growing concerns about a lack of affordable housing that have led to swifter rent stabilization measures and the possibility of a recession pending the outcome of the presidential election, it is also grappling… Read more »

Meet Our Brokers – Fred Rufrano and James Dario Jr.


Fred Rufrano and James Dario Jr. have logged 55 years working at Kalmon Dolgin Affiliates.  They bring wide-ranging experience to our clients. We recently interviewed them. KDA: When did you join Kalmon Dolgin Affiliates? James: I started in 1995 …. 25 years; it went by pretty fast. It feels like it passed by in a… Read more »

Real Estate Veterans Will Get Schooled By This New Law


A new law, signed by Gov. Andrew Cuomo in late October, eliminates the ability for longtime real estate license holders to be exempt from 22.5 hours of continuing education starting on July 1, 2021. Previously, any agent or broker licensed before July 2008 who continuously held their license for at least 15 years would be… Read more »

Commercial Market Much Stronger Than Headlines Imply


Over the past decade, New York City has experienced a period of strong economic growth driving an increase in jobs, commercial investment, and unprecedented demand to live and work in the five boroughs. As a result of this economic expansion our commercial real estate market continues to thrive and poised for success for the remainder… Read more »

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