More Affordable Parts of Brooklyn, Queens See Big Rent Increases
As the average rent in Manhattan surpasses $5,000 a month for the first time, the latest report from brokerage MNS finds that even more affordable parts of Brooklyn and Queens saw some of the largest rent increases in the past month. In Brooklyn, MNS finds that average rents increased in 15 of the 16 neighborhoods… Read more »
After Slowdown in Property Sales, ‘Repricing’ Becomes This Summer’s Dreaded Word
Summer lulls are nothing new in commercial real estate, but this year’s slowdown in deals is more pronounced because of one word that has defined the season: repricing. Rising interest rates, inflation and worries of a recession have caused a reset on prices, prompting sellers to accept a less satisfying price or pull properties from… Read more »
Is the Economy Headed in the Right Direction?
Is the Economy Headed in the Right Direction? by Neil A. Dolgin I’ve always been of the mindset that for any business, an economic downturn is an opportunity for innovation and transformation rather than a barrier to progress. While it’s hard to be certain where we’re headed in today’s economy, there is some good news… Read more »
Flattening the City: How COVID-19 is Reshaping Commercial Real Estate
In the five-plus months that have passed since the U.S. declared a country-wide state of emergency due to COVID-19, we have all had to adapt in some way or another, to change our shape to match our new vessel. These changes were made rapidly, even under duress, and they were shaped and enabled by technology… Read more »
SIOR: More CRE Transactions Stay on Schedule
The commercial real estate industry is gradually getting a handle on how to do business during a pandemic, according to the results of the August Sentiment Survey from SIOR. Back in April, only 26.1 percent of transactions were proceeding according to schedule, but that figure increased to 45.2 percent in the latest survey. Parallel to… Read more »
Four Things To Know Before Making the Switch from Residential Real Estate to CRE
by Neil A. Dolgin For New York City’s ultra-competitive residential brokerage community, these are uncertain times. Amidst an already-softened sales market and growing concerns about a lack of affordable housing that have led to swifter rent stabilization measures and the possibility of a recession pending the outcome of the presidential election, it is also grappling… Read more »
What We Can Learn from Lewis and Clark
by Kalmon Dolgin During breaks from business-related work and trying to maintain sanity, I have been reading the story of the Lewis and Clark expedition, Undaunted Courage. I am struck by the similarities and lessons that we can learn from this venture which took place nearly 220 years ago, yet it remains relevant to the… Read more »
Meet Our Brokers – Robert Klein and Jeff Unger
Robert Klein and Jeff Unger We recently checked in with two of our longest serving brokers — Robert Klein and Jeff Unger. Robert has been a commercial real estate broker with Kalmon Dolgin Affiliates for 35 years. Jeff joined us 20 years ago. KDA: How long have you guys been friends? Robert: Jeff and… Read more »
Commercial Market Much Stronger Than Headlines Imply
Over the past decade, New York City has experienced a period of strong economic growth driving an increase in jobs, commercial investment, and unprecedented demand to live and work in the five boroughs. As a result of this economic expansion our commercial real estate market continues to thrive and poised for success for the remainder… Read more »
Amid Slumping Sales And Tightening Regulation, Medical Assets Could Be NYC’s Real Estate Darling
Technological disruption has reshaped how healthcare is provided, along with where medical facilities are built and designed. Medical procedures and treatment are now increasingly delivered in ambulatory and outpatient centers, as opposed to hospitals, and consumers often want convenient care delivered in a retail-like environment. All these factors are good news for real estate, experts… Read more »
10 Tips for Getting Started as a New Commercial Real Estate Broker
by Grant Dolgin, Co-Vice President We’ve all heard the old saying, “Everything takes time.” While applicable to just about everything in life, it’s especially true when it comes to being a commercial real estate broker. Not only is success contingent on a number of factors that are often beyond your control, achieving profitability as a… Read more »