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.
NEW YORK—The Hudson Gateway Association of Realtors, Inc. joined FIABCI, the International Real Estate Federation, and real estate colleagues from 15 countries around the globe to showcase New York City’s assets as part of a two-day international trade mission.
HGAR is a principal member of FIABCI-USA, and one of its members, Susan Greenfield, associate broker at Brown Harris Stevens, was recently installed as FIABCI International World president.
The event, held from Sept. 15-16, featured visits to prominent New York City properties, with tours of Hudson Yards by Related Cos., the Towers of the Waldorf Astoria by Douglas Elliman, and Central Park Tower by Extell Development. More than 50 people took part in the trade mission, which also included a historical tour of Manhattan’s West Side and dinner at the Red Rooster in Harlem.
“We are honored to join FIABCI and our colleagues from so many different countries, to share strategies and insights for succeeding in a changing world,” said HGAR CEO Richard Haggerty, who is also president and chief strategic growth officer of OneKey MLS, the regional multiple listing service for New York. “We’re proud to have the opportunity to share with our colleagues these magnificent properties and highlight all of the excitement and innovation New York City has to offer.”
The event also gave participants an opportunity to hear from investment experts as part of a Global Investment Forum prepared in partnership with the Association of Foreign Investors in Real Estate and moderated by Julian Joseph, adjunct professor of global real estate at Georgetown University. The forum was followed by a networking reception at the University Club of New York hosted by FIABCI, HGAR and Foxworth Realty.
Founded in 1951 in Paris, FIABCI is a worldwide business networking organization for professionals associated with the real estate industry.
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