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September 29, 2021

Can Pandemic Break Antiquated Broker Compensation Model's Grip On Industry?

[In-Person] Understanding the Freedom of Flexibility in Modern Workforces with Brookfield and Tishman Speyer Oct. 21

Kelani Blackwell joined CBRE as a commercial broker a month before the world shut down. She quickly came face to face with a challenge faced by other younger brokers and commission-based commercial real estate staff last year: how to stay alive when the deals disappear. 

Can Pandemic Break Antiquated Broker Compensation Model's Grip On Industry?

“I had to get creative,” the Columbus, Ohio-based broker told Bisnow. “As a millennial and woman of color, business development for me took a very different approach. This industry isn’t set up for folks who don’t have trust funds or parents who can set up their lifestyles until they set…

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NYCHA Strikes $60M Deal For Affordable Housing Project In Mott Haven

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The New York City Housing Authority has reached a deal with the New York City Department of Housing Preservation and Development to turn an empty site in Mott Haven into affordable housing.Construction is set to start next month, with 101 new units planned for a former vacant retail building at…

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Not Just Simon And Brookfield: Smaller Landlords Consider Buying Their Tenants

PRESENTED BY:   Rosenberg & Estis
 
Not Just Simon And Brookfield: Smaller Landlords Consider Buying Their Tenants

Tens of thousands of restaurant owners, shopkeepers and retailers have been in financial distress and struggling to make monthly rent payments for much of the past 18 months. Fearing that the bankrupt businesses they lease space to will leave storefronts vacant lowering the value of the real estate, some landlords…

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Origin Stories: IPA's Joseph French On Teaching Himself The Art Of Negotiation

Origin Stories: IPA's Joseph French On Teaching Himself The Art Of Negotiation  

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

Joseph French is a senior director of the National Retail Group at Institutional Property Advisors, a Marcus & Millichap company. He started his career in office leasing in Manhattan — though he was told he wouldn’t succeed in the industry as a Black man. He persevered and moved into retail brokerage.

He now focuses on shopping centers and has been involved in the sale of over $1B of property over the course of his career. He told Bisnow about tough lessons, working through the worst of the financial crisis and the warning he gives to young people of color entering the industry.

Bisnow: How did you get introduced to CRE? French: In the early 1980s, I had a photography gallery in SoHo. A friend who I had not seen in many years came in for a visit one day. The last time I had seen him he was selling vacuum cleaners door…

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Push For Highway Removal Simmers As Federal Government Looks To Support The Idea With Funding

Until the 1960s, Claiborne Avenue in the Tremé neighborhood of New Orleans was a major commercial thoroughfare for the Black population of the city, home to a variety of businesses and shaded by hundreds of large oak trees. The avenue was also a community gathering place.

By the 1970s, the street was in the shadow of a new highway, erected in 1968 to facilitate the movement of cars through the city, as was considered important by the highway builders of the time. Most of the businesses and all of the trees along the street were gone. What was once an important part of the community had become blighted.

"The people of Tremé who bought houses, like my family, thinking that the neighborhood was going to remain beautiful and prosperous, had no idea that the government considered them expendable," said Amy Stelly, an architectural and urban designer based in New Orleans who lives in the Tremé neighborhood, not far from the elevated Claiborne Expressway, which is now the target of removal efforts.

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