In the Press

In the press sub title

09/10 2014
Executive of the Month: Joe Berko

Executive of the Month: Berko, president of Berko & Associates: Bringing an investment-banking approach to commercial real estate; growing firm includes city’s top mortgage bankers, investment sales professionals and advisors. New York, NY As an Israeli youngster visiting relatives in the United States, (Yossi) Berko knew he would be a real New Yorker someday. Today,

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09/05 2014
Lower yields draw New York developers to Israeli bonds

In their hunt for cheap financing, New York developers are increasingly turning to the Israeli bond market. Last week, the Tel Aviv daily Haaretz reported that the Witkoff Group and the Lightstone Group are considering selling bonds in Israel for 500 million Shekels, or $141.6 million, each. They would follow in the footsteps of Extell,

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02/14 2014
Letter of Intent – Construction Lending

Healthy activity in construction spending has led to a renewed faith from commercial lenders looking to take advantage of a robust sector in the market. The low cost of capital and fervent return of the CMBS market have both aided in increased liquidity and easier lending, although standards have become much more stringent than before.

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09/16 2013
Letter of Intent – Office Building Recovery

Sales of investment grade properties in New York City for the first half of 2013 totaled just shy of $18 billion across all commercial asset classes. This amount represents an increase of approximately 40% year-over-year. The key contributors to the flourishing N.Y.C. sales market: the lack of quality inventory, and the steady access to capital

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08/16 2013
Letter of Intent – Dollars per Buildable

There seems to be a new standard in the price of development rights in prime New York City locations, and the days of sub-four hundred dollars per buildable foot are long gone from the rear view mirror. Sales for development rights in trendy locations have consistently traded above $600 per s/f. Tough pill to swallow?

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07/24 2013
Letter of Intent – Transferring Development Rights

In 1968, New York City led the nation as the first major city to implement a tactic to Transfer Development Rights, better known as a TDR program. We all know that air rights can be transferred to an adjacent building, or, from corner to corner (as long as the “Granting” and “Receiving” properties are located

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06/11 2013
Letter of Intent – Clamoring For Condos

Manhattan, especially recently, has been a breeding ground for development, with the most notable developers clamoring at the opportunity to snatch up a prime piece of real estate and build the next “it” tower. In the last eighteen months alone, there have been fifty-five new luxury developments in Manhattan, representing approximately 5,600 units. To give

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06/02 2013
Letter of Intent – Bridging the Gap

I’m sure the vast majority know that the primary purpose of bridge loans are to act as short-term, temporary financing between the acquisition and/or development of a property and a permanent loan. Bridge loans are short-term loans that by definition are not the type of loan product or origination source, but the use of the

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04/12 2013
Letter of Intent – The Retail Surge

The retail investment sector is ready to burst, and investment sales brokers agree that there has been a clear rise in requests for suitable retail investment properties. One major driving force behind retail acquisition is the re-born availability to finance large acquisitions of not only single properties but large portfolios of retail-heavy assets. Banks are

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04/02 2013
Letter of Intent – IRA, Meet Investment Property

To those who may not have thought of this option prior, there are some distinct advantages for real estate investors to allocating real estate owned into an IRA. Real estate is tangible, thus, you have strategic control over the management of the properties and which properties are purchased for the account. My personal favorite advantage

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