LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
Top industry professionals came together to celebrate three prominent real estate colleagues who are changing New York City’s landscape and to support the real estate leaders of tomorrow at a premiere event last week hosted by Fordham University’s Real Estate Institute (REI).
MaryAnne Gilmartin, founder and CEO of MAG Partners, Jeff Levine, founder and Chairman of The Douglaston Companies, and Nicholas Fusco, Commercial General Manager at Related Companies/Hudson Yards, were honored at the first-annual Real Estate Institute Awards event June 15 on the rooftop of Douglaston Development’s 3Eleven, at 311 Eleventh Ave. in West Chelsea.
“This is a night to celebrate the groundbreakers, visionaries, and future leaders in real estate,” said Bess Freedman, CEO of Brown Harris Stevens, EAC member, and event emcee. “Tonight, we honor the people who have shaped the skyline of New York City and beyond, and your presence here supports those who will shape it in the future.” Dr. Anthony Davidson, Dean of Fordham University’s School of Professional and Continuing Studies, was joined by REI Executive Advisory Council (EAC) Chair Ryan O’Connor, President and CEO of Clinton Management, and EAC member Chris Mills, CEO and President of Electra USA, to present the awards.
The REI awards were presented in the following categories: Groundbreaker Award to Levine, for the revolutionary development at 3Eleven, the largest new multifamily building in Manhattan, as well as for his decades of excellence in building, developing, managing and delivering market-rate and affordable housing options to New Yorkers. The Visionary Award was awarded to Gilmartin, a Fordham graduate who is special advisor to the EAC. With decades of experience in developing impactful, iconic, large-scale projects, Gilmartin leads MAG Partners, which currently has a $1 billion development pipeline in New York, including the recently opened “Ruby” multifamily community in Chelsea. The Titan of Tomorrow Award was bestowed to Fusco, another Fordham graduate for his academic and professional achievement in the real estate industry and strong commitment and service to Fordham REI’s EAC and adjunct faculty staff.
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