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NYC Workers Return to the Office, Despite Safety Concerns and Protests

Around 80,000 New York City public workers started to return to the office on Monday, despite concerns and protests from staffers about the safety conditions of bringing employees back, while the city has seen new and more transmissible variants of coronavirus.  In a press conference, Mayor Bill de Blasio defended the decision, citing the fact that 6.6 million doses of the coronavirus vaccine have been administered to city dwellers....

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CRE Lenders Aid Struggling Borrowers Despite Leverage Advantage

There’s a quote attributed to 20th-century industrialist J. Paul Getty: “If you owe the bank $100, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” Never has there been a greater moment to test Getty’s thesis than the last 14 months. After a few solid years of a borrower’s market, with lenders of all stripes clamoring over deals and sacrificing yield in the pursuit of deploying capital,...

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Advisory Firms Have Been Shaking Up the Agency Multifamily Lending Arena

Newmark, like many other global advisory firms, has evolved into one of the most dominant agency lenders in the country since gaining agency lending licensing in 2018 via its acquisition of Berkeley Point Capital (BPC). The move enabled the company to effectively combine its advisory and investment sales prowess with agency loan origination. Government-sponsored enterprises Fannie Mae and Freddie Mac flexed their muscles to support...

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Ted Koltis Joins Moinian Group as Head of Commercial Leasing

Industry veteran Ted Koltis, the former head of Colliers International’s Eastern region agency and consulting practice, joined The Moinian Group to lead its commercial leasing team, Commercial Observer has learned. Koltis started on Thursday as executive vice president of commercial leasing, a newly created role, where he will be in charge of leasing up the landlord’s more than 20 million-square-foot portfolio spread throughout New...