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Industry gets behind city’s cultural reawakening


New York’s Real Estate and Construction Council is throwing its weight behind the rebuilding of the city’s cultural landscape. The group hosted the first in-person, live performance celebration at Lincoln Center since it was forced to cancel its programs and close its doors to the public last March. Jonathan L. Mechanic, chairman of Fried Frank’s… 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 »

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 »

Navigating New York’s new TCO process


The pinnacle of any construction project is the issuance of the Certificate of Occupancy (CO), albeit temporary or final. These documents, distributed by the NYC Department of Buildings (DOB), grant the legal occupation of a new development or an existing building under construction in NYC. The process can be daunting and lengthy, but extremely necessary… Read more »

NYC’s biggest real estate finance deals of 2020


New York’s commercial real estate market took a beating in 2020. In one indicator, the 10 largest investment sales of the year totaled $5 billion, a 37 percent drop-off from the $8 billion the previous year.  Not surprisingly, finance deals dropped off considerably this year, as well. The 10 largest loans in New York totaled… 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 »

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