BJH assisted the Sabey Corporation with leasing and acquiring permits for 375 Pearl Street, a 1.2 million square foot mixed-use project in Lower Manhattan. Sabey successfully leased 570,000 square feet of renovated Class A office space to New York City agencies during this period. Sabey also completed a renovation of the building to improve tenant experience. The renovations included restoring the building’s public plaza and installing curtain walls on floors 15 through 31. BJH facilitated lease negotiations, assisted with governmental relations services during the approvals process, and estimated the economic impacts for the City from reactivating this important asset
BJH completed an economic feasibility report supporting NAVA’s application to the NYC Board of Standards and Appeals for the development of a new construction residential condominium project at 14 White Street in Tribeca, Manhattan. The feasibility report included analysis of the residential condominium, retail condominium, and land / development site sales markets in Lower Manhattan. BJH performed a financial feasibility analysis to determine the developer’s pro forma return on investment under four different development scenarios.
The Brooklyn Chamber of Commerce engaged BJH to research, define, and contextualize the existing state of Brooklyn’s Innovation Coast and its growth over time. The Innovation Coast is defined as the 21 neighborhoods along Brooklyn’s western coastline from Greenpoint to Fort Hamilton – a corridor that has experienced significant, concentrated growth in the innovation sector over the past decade. BJH used public and proprietary data sources to analyze the real estate, business, demographic, infrastructure, and cultural context of the Coast. The Brooklyn Chamber plans to use the research from this project for business attraction efforts on the Coast to ensure continued growth in the innovation sector. The final report defines and quantifies the Innovation Coast and highlights an action plan comprised of branding, research, policy, and specific projects to support future business attraction.
BJH was engaged by the New York Building Congress to develop a report providing an overview of the tourism and culture sectors in New York City, the vital role that the construction and design industries play in these sectors, and the emerging trends related to construction. The report surveys recent, current and planned capital projects that support tourism and culture in New York and analyzes their economic impact. Finally, the report addresses the most significant challenges hindering construction in this sector and presents recommendations for ensuring that New York continues to develop the infrastructure that is needed to remain a top global destination.
In late 2017 and early 2018, BJH undertook market research and analysis for the Downtown Brooklyn Partnership (DBP), examining demographic, labor, business, real estate and quality of life data to create a comprehensive understanding of the DBP’s catchment areas, and how they have evolved over time. As a part of its research, BJH interviewed DBP members and the locally active brokerage community. BJH created a customized visualization tool from the data that DBP can use to create specific graphs and charts in a wide variety of publications and presentations or to quickly disseminate specific information with shareholders as needed.
BJH worked with Plan A Architecture + Design on the Empire State College (Empire) Facilities Master Plan update. BJH performed a multi-site market analysis to rationalize Empire’s real estate portfolio. BJH analyzed the rent and lease terms for each property in Empire’s portfolio and compared them to the market rates for each location. BJH also provided Empire with land and office building comparable sales, allowing Empire to assess options for building new facilities on vacant land or purchasing existing buildings in local markets.
BJH worked as part of a team led by VHB to analyze the City’s regional freight system’s capacity to handle future trade flows in an economically and environmentally feasible manner. BJH provided real estate analysis to support the consultant team’s recommendations by researching supply and demand for freight and other industrial space required by different modes (maritime, rail, air, and truck) in the five borough area and neighboring counties in New Jersey and Connecticut. BJH’s work helped to shape goals for future investments in this critical infrastructure. The FreightNYC initiative is currently set to invest up to $100 million to create new jobs, invest in maritime and rail solutions, modernize distribution facilities, and support an environmentally sustainable freight network.
BJH advised Vista Foods Exchange on its submission to the New York City Economic Development Corporation for the development rights to a 7.5 acre site in the Hunts Point section of the Bronx. BJH prepared an operating and real estate pro-forma for the development of a food distribution center jointly operated by Vista Foods Exchange and S Foods Inc. BJH also prepared an economic development narrative and performed an analysis of the economic impacts that would result from the development.
BJH worked with New Jersey based planning and development firm Topology on four separate residential development projects in Essex, Union, and Morris counties in New Jersey. BJH used cash flow models to perform sensitivity analyses on market assumptions and Payment In Lieu of Taxes (PILOT) structures. BJH used these analyses to examine the financial feasibility from the developers’ perspectives while also considering the impact on the municipalities’ character, density and future tax revenues.
BJH, a registered Municipal Advisor with the Securities and Exchange Commission, assisted Omnicap, a nationally recognized financial and investment advisor, with structuring, market research, and municipal advisory services related to the issuance of solar financing green revenue bonds backed by consumer loans. BJH surveyed the market for similar products and reported on their rates, structures, and collateral pools.