Dear BOMA New York Members,
There is a welcomed and increased level of optimism in the air, and the CRE industry is the engine behind the positive buoyancy in New York City. As the pandemic nears the end of its days, commercial building professionals continue to collaborate and innovate on behalf of all New Yorkers. BOMA New York is at the center of it all and I could not be more proud of our members for their relentless commitment to growth, productivity, and prosperity. They were truly the front line workers of our industry.
As recently reported by GlobeSt.com, Manhattan office leasing in Q3 had the best quarter since Q1 2020. Per CBRE’s Q3 2021 Manhattan Market Report, Nicole LaRusso, senior director of research and analysis for CBRE New York Tri-State said, “While still in the early stages, New York City is showing clear signs of a recovery.” New companies and those in the race for talent are actively touring space. According to Crain’s New York Business, demand for space from tenants that have been in business for less than 10 years grew by 514% during the pandemic. The city that never sleeps accrued more than 5.8 million square feet of total leasing in Q3. Our buildings are ready for this embraced uptick in occupancy and that is because of the many building professionals that are perpetually prepared for all scenarios of property management.
In fact, I am writing this message on the heels of the recent 50th annual celebration of the Pinnacle Awards – one of the most esteemed events within the commercial real estate industry – where we recognize New York City’s most distinguished owners, forward-thinking leaders and innovative properties that shape our great city.
Last year’s Pinnacles was approximately two weeks before the onset of the pandemic, with a record number of almost 1,000 attendees. This year, we attracted about 825 attendees – and it felt more rewarding than ever – a sign that this is the beginning of the end of COVID-19. The in-person event felt great and I am compelled to thank the staff, the many volunteers, the event committees, the sub committees, the judges, and the many valuable sponsors. Congratulations to all of the winners and nominees for your achievements.
As New Yorkers and global citizens, we have a perpetual commitment to Never Forget 9/11. At the Pinnacles, and in commemoration of the 20th anniversary of that tragic day, we observed a moment of silence. Every attendee also received a custom 9/11 lapel pin, signifying that we will always remember the innocent victims and honor the brave souls of the many first responders.
As we celebrate 50-years of progress and leadership, it’s important to note the forward progress. Every year, we recognize excellence in property managers, engineers, building operations, sustainability, and renovation. This year, we added three awards to honor security personnel, cleaning personnel, as well as emerging leaders.
The BOMA New York staff, and its many committees meet year-round to ensure we are adding value to the commercial built environment. From programming to advocacy, we are there leading the charge.
Just last month, I joined former BOMA NY president Ron Zeccardi, BOMA NY board member Laura Belt-Ponomarev and many other CRE executives in opposition of the proposed commercial rent control legislation. On behalf of BOMA New York, I testified in front of the New York City Council. In summary, I said, “BOMA New York strongly opposes both Intro 1796 and Intro 2291. We encourage the Council in the strongest terms not to pass these bills, which are not legally viable, would not create good policies for protecting small businesses, and are not necessary.” BOMA New York will continue to be at the table, advocating for the commercial real estate industry, and will combat any proposed legislation that regulates commercial rent.
As we look forward to closing out 2021, please join me at the annual BOMA NY Holiday Luncheon at the Ziegfeld Ballroom on December 3rd. We will install the new officers and directors – whose term starts January 1, 2022 – as well as recognize an organization that plays a pivotal role in making New York City a better place to live, work and play with the BOMA New York Civic Betterment Award.
As always, thank you for your continued engagement and collaboration.
Hani J. Salama, PE, LEED-AP
Chair & Chief Executive Officer
BOMA New York
Q&A WITH RONALD S. ZECCARDI
Senior Vice President, Project Management | CRESA
We sat down with BOMA New York Board Member – Ronald S. Zeccardi – Senior Vice President, Project Management | CRESA
While fossil fuels have long dominated the energy sector, their reign may be slowly coming to an end. In the last few years, we’ve seen major new gas infrastructure blocked, and now New York City is looking to phase out fossil fuel combustion in buildings.
The proposed law would impact new buildings and substantial renovations, although the latter term is not defined as of yet. As written, the law would take effect two years after it is passed. This bill is meant to be one tool among others pushing building owners and managers to electrify their buildings. This effort, in conjunction with substantially greening the grid, could reduce greenhouse gas emissions significantly over time.
The reality is that a bill such as the one proposed will almost certainly become law in the near future. Therefore, BOMA New York is working with a wide range of stakeholders to shape the proposed legislation in order to make the potential legislation as feasible and achievable as possible. BOMA New York is pushing for the bill to only apply to new buildings, or renovations that are genuinely significant, such as those that equal to at least half the cost of the property. We are additionally advising that the mandate be phased in, starting first with small, residential buildings, with larger buildings to ultimately contribute thereafter.
This would allow for the grid to add substantial new clean energy, as well as to upgrade infrastructure to handle the additional electricity demand as we move New York City forward together.
OCTOBER MONTHLY FORUM
Identifying Fire Protection Equipment in Your Building
BOMA New York’s October 2021 Monthly Forum, entitled “Identifying Fire Protection Equipment in Your Building,” offered an eye-opening, educational tour of an often-unnoticed life safety component of every class of commercial property within the metropolitan area – structural fire protection equipment.
Presented by Billy Phair of W&M Protection, this information-packed forum touched on the identification, inspection and maintenance of all parts of the most common types of fire suppression systems.
Keep a look out for a detailed article all about Mr. Phair’s presentation.
50th ANNUAL PINNACLE AWARDS
As highlighted in BOMA New York in the News, the 2021 Pinnacle Awards 50th Anniversary Ceremony was a tremendous success, welcoming more than 800 of New York City’s top real estate professionals back to one of the industry’s biggest events of the year. The event celebrated outstanding achievements in the commercial real estate industry, by recognizing premier buildings and leaders in New York City. READ MORE…
BOMA 2021 INTERNATIONAL CONFERENCE & EXPO
The international conference took place in Boston, with approximately 1,300 executives in attendance. BOMA New York as well represented for the in-person commercial real estate reunion. Property professionals gathered in Beantown for timely education, dynamic and inspirational speakers, unmatched networking opportunities and solutions to meet every operational challenge. It concluded with the TOBY Awards, where 17 outstanding commercial properties were honored. For a full list of the winners, READ MORE HERE. Mark your calendars now: the 2022 BOMA International Conference & Expo will take place in Nashville, Tennessee from June 25-28, 2022.
ASSET MANAGEMENT WEBINAR
Existing Real Estate Market Conditions and Future Outlook
The BOMA New York Asset Management Committee produced an impressive panel for an engaging conversation about “Market Conditions & Future Outlook”. We were joined by Ken McCarthy from Cushman & Wakefield; Raymond Sanseverino from Loeb & Loeb; Travis Feehan from Columbia Property Trust; and Rachel Palisin from Hoffmann Architects.
Keep a look out for a detailed article all about this impressive dialogue.
THE NEW HOME DEPOT PRO INSTITUTIONAL PROGRAM (X2):
Have you heard the news? The Home Depot Pro has added a new program exclusively for BOMA members! In addition to the Home Depot Pro rebate program you know and love, which offers members a 2% rebate on retail purchases, you now have a new option to get thousands of discounted cleaning, maintenance and repair products delivered right to you!
1. The Home Depot Pro Rebate Program
For Retail Purchases
BOMA members receive a 2% annual rebate on all qualifying in-store and homedepot.com pre-tax purchases of thousands of products you need to get the job done. Take advantage of volume pricing, enjoy exclusive offers and rewards, track purchases and instantly authorize employee in-store purchases with Text2Confirm Authorization. There’s no cost to enroll, and BOMA members have earned an average of $4 million+ in rebates each year. Minimum annual spend of $10,000 required to earn rebate.
Enroll Now! Be sure to use the program code BOMA when you register.
2. NEW: The Home Depot Pro Institutional Discount Program
For Wholesale Purchases
The Home Depot Pro Institutional, the wholesale distribution division of The Home Depot, offers the convenient delivery of more than 250,000 commercial products right to your door or local will-call pickup location! BOMA members benefit from a tiered discounted pricing program; free next-day delivery; house accounts with Pro credit line and customizable invoicing options; workflow approval functionality; and robust spend reporting and visibility.
Ready to start taking advantage of these new perks and savings opportunities?
Get Started Here!
JOIN A BOMA NEW YORK COMMITTEE:
One of the most valuable and exciting aspects of your BOMA New York membership is the opportunity to affect change via one of our numerous committees. Collaborate with top industry executives and lead by example. Jump start your career and JOIN A COMMITTEE TODAY.
GET AHEAD OF YOUR COMPETITION:
Showcase your brand to BOMA New York members and the commercial real estate industry leaders with our member engagement opportunities and grow your business in 2021! CLICK HERE
RECRUITING CRE PRESENTERS:
Are you a seasoned executive looking for ways to be promoted to BOMA New York members and thousands of CRE professionals? Would you like to heighten your market presence as in an industry influencer and be featured in the media?
Look no further and apply to present at a BOMA NY Monthly Forum; the signature monthly event held every third Thursday of the month. The Monthly Forum serves as a value-add information session for property managers, asset managers, and many CRE service professionals across New York City. Contact Becky Perez today at email@example.com.
GREEN & WELLNESS
LEED AP BD+C Exam Preparation
November 2nd, 9th, 16th & 23rd
1:00PM – 3:00PM
GREEN & WELLNESS
LEED GA Exam Preparation
November 3rd, 10th, 17th & 24th
1:00PM – 3:00PM
ANNUAL LEADERSHIP BREAKFAST
November 17, 2021
8:00AM – 10:00PM
SAVE THE DATE
November 18, 2021
12:00PM – 1:00PM
SAVE THE DATE
December 3, 2021
11:30 – 2:00 p.m.
GREEN & WELLNESS
LEED Green Associate Exam Prep
December 8, 2021
Instructor: ASA POSNER, LEED AP BD+C, O+M
First Ever Hybrid Event (in-person & virtual)
SAVE THE DATE
Fall/Spring 2022 Curriculum
2022 PINNACLE AWARDS
NOMINATION ARE NOW OPEN
Please join us in welcoming our new BOMA New York members.
If you are a BOMA New York Member and have moved to a new location or changed employers, please contact Ami Shah firstname.lastname@example.org to update your Membership Record.
If you have a candidate for membership, please contact Ami Shah, our Director of Membership and Special Events at email@example.com. And visit us at bomany.org for information on the difference a BOMA New York membership makes.