News:
Spotlight Content
Posted: December 31, 2019
2019 Year in Review: Elaina Pirro, Cushman & Wakefield/Pyramid Brokerage Company
Name: Elaina Pirro
Company: Cushman & Wakefield/Pyramid Brokerage Company
What was your greatest professional accomplishment in 2019?
I was able to earn the professional trust and respect of a state and community leader. I assisted this seasoned client along with the help and support of my company in a real estate transaction involving one of many family properties in an industrial lease. This deal was made possible for my client or me from the vast resources and network built on the Cushman & Wakefield / Pyramid Brokerage Co. platform. The transaction was both a professional and personal accomplishment in 2019 for me.
What was your most notable project, deal, or transaction in 2019?
In 2019, I put together a deal encompassing dual transactions for a single company; this company was in the market over multiple years without completion of either part of transaction. These transactions involved the sale of a challenging commercial property, then the lease on a new property which requited satisfying a multitude of various preferences. These deals would not have been made possible for my client or me without the vast resources and network built on the Cushman & Wakefield / Pyramid Brokerage Co. platform.
What are your predictions for commercial real estate in 2020?
My predictions for commercial real estate in 2020 is one of growth and an upward trend for quality product in the market. This stems from a tightening market in Central N.Y. as well as growth by established companies and new companies coming to the area. Specific areas I predict a further tightening of the market in are industrial and class A office space. I think 2020 is an exciting time to be in the commercial real estate market.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
Quick Hits
.jpg)
Columns and Thought Leadership
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
.gif)