The Impact of Interest Rates on the Long Island Real Estate Market

Wilbur F. Breslin Center for Real Estate Studies and

The Institute of Real Estate at Hofstra University present

The Impact of Interest Rates on the

Long Island Real Estate Market Thursday, December 8, 2016

prideandpurpose

WILBUR F. BRESLIN CENTER FOR REAL ESTATE STUDIES On behalf of Hofstra University’s Wilbur F. Breslin Center for Real Estate Studies, it is my pleasure to welcome you to Hofstra University. We are very pleased you have joined us for The Impact of Interest Rates on the Long Island Real Estate Market.

This conference provides an opportunity for community leaders and real estate industry professionals to exchange information and ideas that will strengthen and grow the region. Today’s panelists are experts in real estate law, lending, and the commercial and residential real estate markets. They are extremely knowledgeable about the concerns that have shaped Long Island and are ready to share their varied experiences with us. We are very grateful to have them with us today.

We are also grateful to Herbert S. Agin, president of The Institute of Real Estate, for his assistance in planning this conference. We offer special thanks to our sponsors: Association for a Better Long Island; Certilman Balin Adler & Hyman, LLP; Colliers International; The Commercial Industrial Brokers Society of Long Island; Cronin, Cronin, Harris & O’Brien; and the Long Island Builders Institute for their generous support.

Thank you for joining us today, and we hope you enjoy the conference.

Mark J. Lesko Executive Dean Wilbur F. Breslin Center for Real Estate Studies

PROGRAM

The Impact of Interest Rates on the Long Island Real Estate Market Introduction:

Mark J. Lesko Executive Dean Wilbur F. Breslin Center for Real Estate Studies

PANEL DISCUSSION and Q&A SESSION Moderator: Maura McDermott Business Writer/Real Estate Newsday Panelists: Stephen Breitstone Vice Chairman

Meltzer Lippe Goldstein & Breitstone, LLP

James Murphy Executive Managing Director, Capital Markets

Colliers International, Inc.

Lawrence Jones Vice President, Commercial and Business Banking

Bethpage Federal Credit Union

Jack O’Connor Executive Managing Director

Newmark Grubb Knight Frank

This program is sponsored by:

CCH&O

Cronin, Cronin, Harris & O’Brien, P.C.

We thank the following sponsors for generously supporting this conference.

Association for a Better Long Island. Members of the Association for a Better Long Island assert our intent to promote a deliberate agenda that will protect the region’s business base, its role in protecting our collective economic future, the enhancement of the quality of life of every Long Islander, and the region’s role as a competitive force in a global economy. Accordingly, the Association for a Better Long Island commits its resources to economic growth through a collective vision that combines ethics and energy, commitment and competence, and passion and performance in the pursuit of a strong and vital future.

Certilman Balin Adler & Hyman, LLP, Long Island’s second largest full-service law firm, has offices in Nassau and Suffolk Counties and New Jersey. Its 15 practice areas include: real estate, real property tax certiorari and condemnation, cooperative and condominium, land use, environmental law, corporate/securities, litigation, commercial lending, labor relations/ employment law, bankruptcy and debtor/creditor rights, nonprofit/tax exempt and religious organizations, trusts and estates, elder law, telecommunications law, and criminal law. For more information, please visit www.certilmanbalin.com.

Colliers International is the leader in global real estate services defined by our spirit of enterprise. Through a culture of service excellence and a shared sense of initiative integrating the resources and experience of real estate specialists worldwide, we accelerate the success of our clients. Whether you are a local firm or a global organization, we provide creative solutions for all your real estate needs through our 15,000 professionals and 480 offices in 61 countries.

Our decision to become Colliers was driven by the transformation of the Long Island real estate market where local becomes global and global wants local. How do you best service your customers? Colliers. www.colliers.com/LI The Commercial Industrial Brokers Society (CIBS) is the largest commercial real estate broker organization on Long Island. Twenty-two years strong, CIBS is the authoritative voice on Long Island for commercial real estate. There is a shared belief among the region’s leading brokers that the industry needed a unified voice to advocate on behalf of professionalism and ethics, and to align with other regional business and economic powerhouses for the benefit of our region and economy. CIBS helps influence its trade industry by offering educational programs and seminars; advocating professional standards; offering alternative dispute resolution; providing mentoring relationships; raising dollars for local charities; and by creating a social setting in which colleagues become friends, and competitors become respected peers.

Cronin, Cronin, Harris & O’Brien practices exclusively in the area of property valuation issues.

Our areas of expertise include tax certiorari, or the protest of real estate tax assessments, and condemnation. Members of our firm have successfully reduced the assessments, and thereby the real estate taxes, on thousands of properties throughout the state of New York. The attorneys at Cronin, Cronin, Harris & O’Brien have represented and obtained reductions on virtually every commercial property type. We represent office buildings, industrial buildings, shopping centers and retail locations, hotels/motels and restaurants. Our client list also consists of many other property types, including apartment buildings and condominium/cooperative complexes, nursing homes and assisted living facilities, car washes and auto dealerships, marinas and resorts, oil terminals, race tracks, amusement parks, bowling alleys, catering halls and country clubs.

Long Island Builders Institute (LIBI), formed in 1941, is an association of building industry professionals who are dedicated to making Long Island a better place to live and work, by creating a balance between the economy, the environment and development opportunities for all our communities and our residents. Our organization is the largest residential building trade association in the state of New York and represents commercial, residential, multi-families, rental buildings as well as general contractors serving Long Island. LIBI members build most of the homes produced on Long Island each year. They buy land, products and services equivalent to about $1 billion dollars annually. LIBI also serves as a business referral source for builders and remodelers, and those associate members selling directly to the public. LIBI also responds to consumer inquiries and serves the public with referral information by appearing at major home shows. Networking is LIBI’s most important business opportunity – members learn from each other, exchange information, sell, buy and make deals.

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