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NY Building Owners Beware: Advertised Short-Term Rentals of Your Units May Cost You

Recently, the Real Estate Board of New York (REBNY), a politically powerful trade group, has joined forces with the city’s hotel industry organizations in an effort to stamp out advertised short-term rentals and companies, like Airbnb, that thrive on them. On June 17, both houses of New York’s legislature passed a bill that will dispel […]

Developers Pay above Market Rate for Air Rights over Pier 40

Two developers — Westbrook Partners and Atlas Capital Group — recently announced an agreement to pay $100 million to acquire 200,000 square feet of air rights over Pier 40 for a proposed mixed-use development. The amount is 33% above the valuation of the air rights. The air rights were valued at $75 million, based on […]

Blodnick Fazio & Associates
1325 Franklin Ave.
Suite 555
Garden City, New York 11530
Tel: (516) 280-7105
Fax: (516) 280-7102