Tri-State February 2019 Issue

Retail regroups

From subdividing spaces to amending leases, suburban landlords are sifting through the detritus to revive vacant storefronts

Across the country, competition from internet retailers has left the leasing landscape strewn with dark-windowed hulks. Victims include one-time anchor tenants like Toys “R” Us, Sears and J.C. Penney. … [more]

Opportunity Zones
beyond the metropolis

The tri-state area appears to be embracing the program, even if questions abound

Amid the seemingly incessant buzz in the real estate world about Opportunity Zones, real estate markets around New York City are starting to embrace the investments-for-tax-incentives program born … [more]

Co-working sprouts in suburbia

Shared office spaces are courting a variety of tenants as they expand outside Manhattan

When Jonathan Manierre and Ryan Doran decided they needed new digs for their growing ad and marketing agency, Turkois, the design duo contacted realtors and did a traditional office search…. [more]

The silver tsunami

With demand for senior living facilities on the rise, developers are scrambling to build — but how do the returns look for investors?

Real estate is getting old. If you hadn’t noticed, new senior living facilities are popping up all over the tri-state area. Aging baby boomers are fueling demand as they look… [more]

Famous faces trading places

A soft luxury market kept most celebrities from turning big profits on their high-end holdings

Even celebrities were not spared from the frustrating effects of a stagnant market when they tried to buy and sell homes in the tri-state area this year. There have been… [more]

Ranking Westchester’s
top luxury brokers

Think tax laws are killing the market? Think again, say some of the area’s premier agents, who contend that a brisk spring buying season started early

The period between Christmas and New Year’s Day is often a slow one in … [more]

The rental rush

Spurred on by tax breaks, relatively low construction costs and a county-wide push for millennials, developers are on a multifamily building spree

Westchester County is playing catch-up. “We’ve really had very little development over the last 20 years,” said Martin … [more]

Can Greenwich get
its groove back?

Metrics are mixed, with price chops for estate-style homes steep but demand for condos booming

The Greenwich real estate market — home to some of the most expensive residential real estate in the country — is emitting some seriously mixed signals. While t… [more]

The long view

Cory Gubner, founder of Rhys Commercial, discusses disbanding his brokerage to join NKF, his 30-year career in Stamford’s commercial sales market and why numbers can in fact lie

More than three decades navigating Stamford’s investment sales market have made Cory Gubner a grizzled… [more]

Garden State gold rush

Industrial properties are the hottest commodity going, but how can growth continue in such an inventory-strapped region?

The hot market for industrial properties in northern New Jersey continued apace in 2018 as the seemingly insatiable demands of e-commerce put a premium on … [more]

Jersey joust

Biotechnology and industrial tenants are competing for limited suburban space

Industrial tenants aren’t alone in the race for space in northern New Jersey. Biotech firms are also feeding demand. “There’s strong demand from [life science] companies, but with the industrial… [more]

Justified in Jersey City

Developers are preparing to unleash a wave of new residential units on the market, and — at least so far — demand is holding steady

Last year, as the potential L train shutdown loomed over Williamsburg, Joelle Chilazi started fielding more calls from worried Brooklyn residents. Then in November, when Amazon … [more]

Ironstate: Ironclad on development

Company co-founder Michael Barry on his firm’s aggressive expansion plans, rental concessions and the current state of the condo market

Ironstate Development Company has doubled down on new projects… [more]

The little town
with the big reputation

Celebrities and CEOs flock to Alpine for its location, low taxes and big lots, but can the buzz factor spare the luxury enclave from the resi sales slowdown?

Alpine has long been synonymous with luxury real estate in Northern… [more]

Shelter in place

Renewals for existing deals dominate TRD’s 2018 ranking of the largest office leases on perpetually space-strapped Long Island, but insiders say new tenants will soon be making their way to Melville

On paper it looks as though Long Island’s office leasing market had a bit… [more]

The decider

Laura Curran hasn’t shied away from tough choices, from booting a developer off the Nassau Hub project to overseeing a controversial property tax reassessment initiative

When former journalist and Democratic county legislator Laura Curran… [more]

The East End’s
new numbers game

With home sales down and Airbnb on the rise, brokers are banking on big-money short-term deals

With most of the tri-state area mired in the depths of winter, city slickers hoping to spend the warmer months in luxurious style near the beach are eyeing a… [more]

The Hamptons’ home runs

In a market where high-end homes often hit stratospheric valuations, brokers are asking sellers to lower their expectations

One mansion sold for $18.7 million and another for $40 million, but the bookends of the 10 priciest home sales on Long Island’s East End last year told the same… [more]

Editor’s note: Welcome aboard

Greetings, all four corners of the Tri-State kingdom! Like thousands of Tri-State residents who ride Metro-North, New Jersey Transit and the Long Island Rail Road, this train is officially leaving… [more]