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Flattening the City: How COVID-19 is Reshaping Commercial Real Estate


In the five-plus months that have passed since the U.S. declared a country-wide state of emergency due to COVID-19, we have all had to adapt in some way or another, to change our shape to match our new vessel. These changes were made rapidly, even under duress, and they were shaped and enabled by technology… Read more »

How KDA Has Helped Tenants Weather the Pandemic – and Why Commercial Real Estate May Rebound Faster Than Most People Think


By Neil A. Dolgin Nearly nine months into the pandemic, the long-term impact on commercial real estate is still anybody’s guess as virtually every industry continues to feel the economic fallout. Over the past month in New York City alone where life finally appears to be returning to some normalcy, multiple hotels, including the Times… Read more »

City Planning Commission Greenlights Industry City Rezoning


Despite the opposition of the local city councilmember, the City Planning Commission today approved the controversial rezoning of Industry City in Sunset Park, Brooklyn, which is expected to generate several hundred thousand square feet of new commercial space. Commissioner David Burney was the only member of the planning board to vote against the proposal, which… Read more »

Amazon Delivers Hope to Brooklyn Office Market


The coronavirus has slowed an already lagging Brooklyn office market, but Amazon Music has signed a lease in a new Williamsburg building that has local brokers feeling optimistic. Amazon’s music streaming service took 40,000 square feet of production space at Rubenstein Partners and Heritage Equity Partners’ 25 Kent. Commercial Observer  

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 »

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 »

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 »

Commercial Real Estate in the Age of the COVID-19 Virus


So what can the property industry do to immediately respond to COVID-19? The first thing that any property should do is educate its tenants. Whether the building is multifamily, offices, retail, or any other space, building tenants need to be aware of what steps they can take to prevent more people from getting sick. In IREM’s… Read more »

Food and beverage sector gains ground in warehouse leasing


Home of the Blue Point Brewery and event space with 100,000sf of space on nearly 10 acres at Patchogue Lake, with great water views and an iconic clock tower as it’s focal point. A recent multi-million-dollar renovation was made to accommodate the brewery which is equipped with an entertainment venue as well as tasting rooms… 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 »

VC Giant Plans $200M Fund To Back Real Estate Tech That Fights Climate Change


The biggest venture capital firm in PropTech is planning a fund to back firms that are creating technology that will help the real estate sector reduce its carbon footprint. Fifth Wall said last week it is looking to raise $200M for its Carbon Impact Fund. It said the built environment is the single-largest contributor to… 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  

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