New York Real Estate Journal

Anthony Lawrence-Belfair leases 25,214 s/f warehouse space at Simone Development Companies 1200 Zerega Ave. - Read More here: https://hubs.la/Q02-xrHq0 #NYREJ #commercialrealestate

2024 Ones to Watch - Innovators in CRE: Michael Mark, AIA, Mark Design Studios Architecture, PC - Read More here: https://hubs.la/Q02-xRjD0 #NYREJ #commercialrealestate

Bromley Senior Vice President of Asset & Investment Strategy Peter Tong recently spoke with New York Real Estate Journal on the evolving office market and what exactly tenants are looking for. It’s more than just offering in-building amenities – it’s about having your properties integrate seamlessly with the most important amenity of all: the surrounding neighborhood. Bromley witnessed this firsthand with its renovation of 122 Fifth Avenue in Manhattan’s Flatiron District. When deciding how to invest the $100 million to renovate 122 Fifth, a primary driver was how well it integrated into the surrounding Union Square neighborhood. We believed that the neighborhood would further appeal to potential tenants if it accompanied a modern and comfortable building that would allow their operations to excel. Our goal was to complement the area, not compete with it. According to Peter, “There is value not in creating a space that tenants spend their entire lives in, but instead one that grants them the freedom to live their lives as they please outside the building as much as within it.” Check out the full article here: 

A big congratulations to our Director of Member Experience, Alec Fomin, who was selected as a New York Real Estate Journal 2024 Ones to Watch - Innovator in CRE! Alec's work leading the strategy and oversight of customer experience, member-facing services, and hospitality standards across the Sage Collection shows innovation in the space. "Every day presents a new opportunity, a touchpoint, to retain business just through understanding the kinds of programming that matters to our tenants." Read more here: https://lnkd.in/eX2t2sb5.

2024 Ones to Watch - Innovators in CRE: Thomas Donovan, Meridian Capital Group - Read More here: https://hubs.la/Q02-xt6W0 #NYREJ #commercialrealestate

2024 Ones to Watch - Innovators in CRE: Robert Ioanna, PE, LEED AP, Syska Hennessy Group - Read More here: https://hubs.la/Q02-mmN-0 #NYREJ #commercialrealestate

New York Real Estate Journal recently published an article authored by Co-Chair of Olshan Frome Wolosky LLP’s Real Estate Law practice Thomas D. Kearns entitled “Borrower Permitted to Prove Delays and Bad Faith by Lender and Servicer.” In the article, Tom uses a series of decisions in New York County Supreme Court (Newage Garden Grove LLC v. Wells Fargo Bank, N.A.) involving a California hotel to highlight the risks to lenders and their servicers when they delay negotiations over defaulted loans. “The borrower still has a long road ahead to prove the claims, and the extent of the damages if the claims are proven,” he writes, “but the case underscores the litigation risks lenders face when they delay or obstruct negotiations with borrowers.” Tom goes on to explain, “The delays seemed to trouble the court primarily due to the continued accumulation of default interest and servicing fees. As practitioners know, the accrual of default interest is a potent weapon in the hands of a lender, but courts occasionally see the injustice of extended accrual periods.” He concludes: “Parties involved in loan workouts and their counsel should review the Newage series of decisions carefully. While lenders have much power in these situations, courts will apply guardrails when they sense inequitable conduct.” #OlshanLaw #Borrowers #Lenders #LoanWorkouts #RealEstateLaw https://lnkd.in/gtH-mDcV

2024 Ones to Watch - Innovators in CRE: Sammy Chu, Edgewise Energy + Community Power Long Island - Read More here: https://hubs.la/Q02-mpFQ0 #NYREJ #commercialrealestate

Thank you New York Real Estate Journal for this great award—I’m honored to be named as an Innovator to Watch in CRE. I’m proud to represent my incredible team at Runwise, along with my co-founders Lee Hoffman and Jeffrey Carleton. Link to the piece in the comments below:

Thanks to the New York Real Estate Journal for this recognition. I'm grateful to be part of a team that helps lead the way in the evolution of #RealEstateFinance and pushes the boundaries of #innovation in legal services.