In the Press

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

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

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

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

Manhattan, NY Members of Baruch College’s alumni community have banded together to create the college’s first real estate alumni club. The goal of the group is to “create, maintain and support a community of Real Estate Alumni of Baruch College and Newman Real Estate Institute.” At their first official board meeting on March 1st, the

What are your predictions for commercial real estate in 2012? 2012 will be defined by how well the European markets will manage to sort out their liquidity crises. We are heading for an election year and that brings more uncertainty to an already volatile market. Expect market like New York, D.C. and San Francisco to

In the midst of the global predicament comes another hurdle for hoteliers to jump over; hotel construction financing has become increasingly difficult to achieve. While financing for the purchase or refinancing of strong hotel properties in New York remains strong, private funding for construction or redevelopment has been quite stringent. Hospitality financing groups have been

With Senior Lenders more conservative than in past years, bankers have been opening their doors to non-traditional alternatives to the fill the void in capital stack for qualified borrowers with well-positioned assets. It seems the stars have aligned for mezz lenders; a rapid increase in development in and around the boroughs, as well as a

Pool table manufacturer Blatt Billiards has sold its six-story building at 809 Broadway, according to property records. The buyer, a syndicate of Israeli investors using the name 809 Broadway Holding LLC, paid $24 million for the building, which is between 11th and 12th Streets. The deal closed on February 13 and was recorded with the

Lee Silpe (27) Berko & Associates, COO and Partner At Berko and Associates, Lee Silpe wears many hats. As the chief operating officer, he oversees the operations for the whole office, consisting of 22 associates, analysts and support staff. He is also a director at the company, leading a team of the firm’s top agents.