Tag: Commercial Property

Heartland Project Set to Go

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The $4 billion Heartland Town Square project is set to potentially break ground later this year. Developers Gerald and David Wolkoff (father and son) have been preparing for this moment for the past 10 years, dumping over $200 million of their own money into what will be the largest development in Long Island’s history. The […]

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Tax Payers Hold the Light for Coliseum Renovation

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Recent news has shed a more distinct light on Project Lighthouse’s upcoming bond referendum set for August 1. It’s been calculated that if Nassau County tax payers vote “yes” to the renovation of the Nassau Coliseum (the new features can be found here), their property taxes could go up about $58 per household. Of course, […]

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L.I.’s Positive Swing for Industrial and Office Vacancy Rates

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Long Island’s vacancy rates in the commercial real estate market is showing a positive trend in for 2011, however slight they might be. Positive absorption rates for the industrial market in the first quarter of 2011 ended with 280,004 square feet— quite an improvement over the 1.7 million square feet of negative absorption in 2010 and […]

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NY Property Tax Cap: More on the Great Debate

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The Legislative session is coming to an end, but the supposed New York Property Tax Cap is still just talk.  Let’s get a move on!  Seeing is believing. It’s not an attack on the public school system!  Let’s learn from Massachusetts.  A property tax cap was introduced decades ago, but students still score high on national […]

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A Tenant for 3 WTC?

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We will never forget the devastating events of September 11, 2001 and why the World Trade Center is such an iconic piece of real estate for our country.  However, just last week, Silverstein Properties secured Conde Nast as One World Trade Center’s anchor tenant.  Is UBS AG considering the relocation of its Stamford, CT investment […]

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Commercial Property Price Index Drops

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The Moody’s/REAL Commercial Property Price Index is now 47% below the peak of October 2007, a 4.2% drop since this February. The sales of distressed properties amounted to almost one third of all March’s transactions, and continue to hurt real estate values and cause the index to drag along the bottom.  Overall, the index shows […]

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