Although both the Governor and REBNY’s proposal would go a long way in easing the burden faced by vacant commercial properties seeking to convert to residential use, there are a number of additional considerations to keep in mind.
Investment volumes fell 58% in January after a record-breaking December with transactions up 8% in December.
As a result of these sales, New York City and New York State collected $190.5 million in transfer tax revenue.
Brookfield Properties has signed three new leases at MetroTech Center in Downtown Brooklyn.
Many of the companies that paused negotiations due to COVID are now opening up talks again.
The investor’s launches the vertical with the purchase of an eight-asset net-lease industrial portfolio for $137 million.
Experts in the Stroock real estate group believe we’ll see additional deals like this as more companies restructure or seek bankruptcy protection due to COVID-related closures.
Expanding its P3 infrastructure strategy, the firm has monetized the lease for the Jack D. Weiler Hospital from Yeshiva University.
The near-term outlook for senior housing is challenging, but the worst could be over by the second half of the year.
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