Mark Garrahan

[IT‘S NEVER TOO LATE TO GO FORWARD] Developed and constructed by Luzzi Companies, The Lincoln Avenue Development LLC is being developed in multiple phases. The project supports building a complex that will bring businesses & jobs into a location within the Town of Colonie that has previously been underutilized and encouraged by the Town to be developed. This site has been undeveloped for over ten years. It is identified as a Brownfield Site, meaning land abandoned or underutilized due to pollution from industrial use. The developers of Brownfield Site lands are required to perform additional development for the “clean-up“ of the land and advanced and specialized appraisal analysis techniques to ensure appropriate clean-up. To portray The Lincoln Avenue Development, Peter Luizzi III and Chuck Pafundi Jr. once again trusted Arqui300 to finally reveal this project within the Town of Colonie after such a long time. #arqui300 #3d #industrialdevelopment #industrialreaestate #realestate

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CoStar dug deep to explore the New Jersey office redevelopment scene and identified 39 obsolete buildings that have found new uses over the past fourteen years. As technological advances and, eventually, the pandemic forever altered traditional office work and space demand, these well-placed assets were torn down and rebuilt to fill critical voids in their communities. Since 2010, the majority of demolished office properties larger than 100k SF have become either apartments or logistics properties. Morris County has led the way in multifamily redevelopment, while Bergen County saw the most industrial activity. The trend is likely to continue, especially on the multifamily side, as the Garden State looks to address its chronic affordable housing shortage. #newjersey #office #redevelopment #construction #multifamily #industrial #retail #hospitality #healthcare #costar

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"Experience is Brutal Sometimes" TIMEOUT! Tyler White and I sit down with Sam Leone President of Conifer Realty here in Rochester, NY this week on Timeout with Leaders. Sam's rural upbringing in NJ serves as the bedrock for his leadership philosophy, emphasizing the power of authentic connection, compassion, and meaningful work. Listen to the Full Episode Here: https://lnkd.in/gv-EGuqe Throughout the conversation, Sam unpacks his disdain for the phrase "this is how we do it," highlighting the importance of trust, respect, and active listening in fostering a culture of improvement and innovation within organizations today. Sam's reliance on grit as a cornerstone of his success shines through as he discusses the value of consistency, commitment, and action in executive leadership. He challenges the notion of perfectionism in society, advocating for a shift towards embracing failure as a crucial component of growth and development. Our expectations, shame, and assumptions have a way of getting in the way sometimes because incongruent living is exhausting. Are we willing to reflect on the experience "journey" or will we allow ourselves to go on auto-pilot more often, reliving a similar experience time and time again? Experience can be brutal sometimes but also beautiful if we are willing to look at it from a different angle or lense. Drawing parallels between his role as President and that of a Head Coach, Sam emphasizes the importance of supporting, developing, and encouraging his team to embrace failure as a stepping stone toward progress. He sees his role more as a coach than a scary, know-it-all-all executive, who is free of imperfection and the master of all knowledge. "I don't have to be the smartest person in the room" As the conversation unfolds, Sam delves into the significance of self-awareness in leadership, highlighting the transformative power of introspection and continuous improvement. He reflects on the role of luck in life's opportunities, urging listeners to advocate for themselves and rise to the occasion when presented with favorable circumstances. Through his journey towards self-awareness, Sam emphasizes the importance of surrounding oneself with like-minded individuals who share common values and vision, fostering a culture of mutual support and growth. His right-hand human is Barb Ross, as they continue to push one another to be their best so they can more effectively lead all others. Join us as we explore the depths of leadership with Sam Leone, gaining invaluable insights into resilience, authenticity, and the transformative power of self-awareness. #leadership #intention #rochesterny #authenticleadership #failforward

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New York City’s Rent Guidelines Board voted this week to consider increases ranging from 2 to 4.5% on new one-year leases, and 4 to 6.5% on new two-year leases, for NYC’s 1M rent-controlled apartments. The nine-member board will determine the final rates, which will be effective on leases signed after Oct. 1, at its meeting on June 17. The RGB has a track record of splitting the difference on the preliminary range. In 2023, the board allowed increases of 3% on one-year leases; for two-year leases, the board approved increases of 2.75% on the first year and 3.2% on the second year. During the pandemic, the board froze rents in 2020 and during the first half of 2021 before allowing a 1.5% increase for the second half of 2021. In 2022, the board allowed increases of 3.25% on one-year leases and 5% on two-year leases.

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I recently wrote an article dissecting the Boston office market, in addition to sharing top industry trends I'm seeing with my clients. The market is still struggling to find its bottom and historic low demand combined with spiking supply of quality office space, adds up to a perfect storm for landlords, and the perfect opportunity for tenants. Whether your lease expires in one year, or five years from now, I'm encouraging my clients to explore their options in this market to see how they can best benefit – learn more in my latest article or reach out to me directly! #Boston #OfficeMarket #TenantRepresentation

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Thrilled to have recently joined the #PlotLines podcast with Gregory FCA hosts Heather Crowell and Britni Ackrivo. We discussed the current trends in NYC’s office market in regard to leasing and utilization trends and the opportunities we’re seeing for growth in both NYC and Miami. Check out the episode and hear how Handler Real Estate Services is advising clients and adapting to the current office environment: https://lnkd.in/edxk3i6Q #NYCOffice #RealEstateTrends #MiamiMarket

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According to VTS Boston's office market is experiencing a revival. 460 tenants are currently seeking a total of 6.5M SF of space in the market which marks an 8% increase from last month. The current demand is the highest since June 2021. The surge is driven predominantly by small to mid-sized businesses, particularly in the technology, advertising, media, and information sectors. These sectors have increased demand by 172% over 2023's monthly average. Notable activity spikes in Back Bay and Fenway highlight a revitalized interest in these areas and promise a recovery for Boston's office market. #bostonoffice #bostonleasing #bostoncre #cre #officeleasing https://lnkd.in/ecngks-k

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🌆 Exciting news for NYC renters! The Good Cause Eviction Law has passed, meaning landlords now need a valid reason to evict market-rate tenants. But are you entitled to Good Cause protections? Check out the latest article from Brick Underground to understand your rights under this new law! #NYCRentersRights #GoodCauseEviction #TenantProtection

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Hackensack Avenue Green Street - Construction Update - D. Lueckenhoff 5/22/24 Thrilled to share this update (including pictures) on the remarkable progress of the Hackensack Avenue Complete Green Street Project, a collaborative effort between Hugo Neu-Kearny Point, the town of Kearny, NJ, the NJ Economic Development Administration (EDA), the US Department of Commerce, and the NJ DOT, as it nears completion. This project partnership symbolizes a shared commitment to sustainability and environmental stewardship, aiming to create a vibrant and resilient urban environment in the historically industrialized Kearny Point urban enterprise zone between the Lower Passaic and Hackensack Rivers. Our project incorporates innovative sustainable stormwater management practices, including Focal Point bioretention cells, flow-through swales, tailored biochar amendments (Ecochar Environmental Solutions) for toxics (dissolved heavy metals, etc) treatment and improved soil health, beneficial (native plants) landscaping, supporting ecological viability, pervious concrete, porous asphalt, and SmartSponge urban storm drain pollution treatment inserts - collectively which provide enhanced treatment of water quality while reducing volumetric flows and localized flooding. These elements (practices) form a state-of-the-art, high-performance treatment (train) system for capturing and treating 80-85% of a 1.25 inch rain event for stormwater runoff in a 27+ acre highly impervious drainage area - and maximizing results. See installation pictures below. The integration of flow-through swales, targeted biochar amendments, high-flow bioretention and water storage areas, permeable pavement, and porous asphalt pathways and bike lanes exemplifies our unwavering commitment to sustainable green, urban infrastructure. Not only do these features help combat urban heat island effects and curb localized flooding, but they also prioritize pedestrian safety, ecological health, climate resilience and community well-being. We’re also excited about the upcoming installation of fast-charging electric vehicle (EV) stations (for light, medium and heavy duty vehicles) through partners, EV Edison, on the Kearny Point site along Hackensack Avenue - and look forward to sharing updates. These initiatives highlight our commitment to sustainable infrastructure solutions that promote resilience, equity, quality of life, and environmentally conscious urban landscapes to support healthy communities.

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Vector Moving — Your Best move in Life! #moving #Move #moveon #realestatenews #realestateagent #realestatetips #NewJersey #NewYork #NYC #JerseyCity #Jersey #jersey4sale #newyorker #Memes #humor #packaging #glassjar

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If you know me, you know how much I've loved reports and data over the years. Grateful that @Marketproof makes life much easier and we can finally rely on a credible resource for NYC. Link below May New Development Report for NYC. Feel free to reach out with any quetions. NYC New Development: May 2024 Report by Marketproof, Inc. INSIGHTS: *Citywide, all key metrics showed moderate but positive gains, signaling stability as we head into summer *Deal volume rose 1% from April and 10% compared to the pre-pandemic period of 2015-2019 *Dollar volume increased 18% month-over-month, indicating demand for a more premium product *The luxury market saw a 17% month-over-month increase in deal volume, maintaining elevated demand *Despite higher mortgage rates, the new development market continues to normalize to pre-pandemic levels Across NYC, the new development market remained steady month-over-month with modest gains in key metrics. Contracts increased by 1%, from 248 in April to 251 in May. Demand improved in Manhattan and Brooklyn, while Queens saw a decline. Total dollar volume rose 18%, from $693M to $816M. The median price per square foot (PPSF) increased 7%, from $1,637 to $1,747, and the median price rose 3%, from $1.8M to $1.9M. May's deal volume showed a 10% increase over the pre-pandemic May average from 2015 to 2019, indicating continued normalization in the new development market. Of the 251 deals citywide, 140 (+9%) were in Manhattan, 93 (+3%) were in Brooklyn, and 18 (-38%) were in Queens. For the full Marketproof Report click here: https://lnkd.in/g76VJKpC

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Are you familiar with Local Law 97 in NYC? It's a key part of the city's goal to reduce carbon emissions by 80% by 2050, impacting large buildings over 25,000 square feet. Non-compliance could mean hefty fines. We're keeping a close eye on building decarbonization efforts nationwide as we collaborate with clients in real estate. Our fully funded sustainability solutions help them meet evolving standards and cut utility costs. Check out more details in The New York Times: https://lnkd.in/deaMrXK7 Find out how we can help your organization on the path to decarbonization at Redaptive.com #decarbonization #netzero #energyefficiency #buildings

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I'm very excited to be giving my 1-day "Due Diligence in New Jersey" class in person once again (it's been a while - thanks COVID 😝). Book the date - June 20, 2024 - come one, come all, to the Eco Complex in Bordentown, NJ. Reserve your spot before the class is sold out. Are you or your clients involved with commercial or industrial real estate transactions in New Jersey? Have you ever wondered... What environmental risks and liabilities can potentially be associated with real estate transactions? Who needs to be concerned about those risks and liabilities, and when should adequate due diligence be conducted? How does environmental due diligence limit and offer protections against those risks and liabilities in New Jersey? What are the typical environmental due diligence products and services, what do they include, and what do they not include? All these questions, and more, will be answered, and we'll have loads of fun too 😀 #DueDiligenceNJ #PhaseIESA #PreliminaryAssessment #LookBeforeYouLeap #DoYourDueDiligence https://lnkd.in/eiMzAGww

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Synergy recently acquired the office building at 179 Lincoln St in Boston's downtown. The transaction included taking on $76.5 million in existing mortgage debt. The building encompasses 221,000SF and is currently 82% leased with tenants such as XPO Logistics and Smartsheet. The transaction reflects the larger trend of depreciating downtown office values, as the property had previously been purchased by Blackstone in January 2020 for $155.7 million. This acquisition is part of a broader strategy by Synergy, under the leadership of David Greaney, to invest in downtown properties post-pandemic, signaling a potentially significant shift in the market dynamics of urban real estate. #bostoncre #capitalmarkets #officebuildings #cre https://lnkd.in/emrZe53T

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