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Florida commercial property in for big insurance hikes this year

Florida commercial property owners that have been dealing with escalating insurance costs for years are in for more bad news. This year, insurance rates in the state are expected to go up by 45 percent to 50 percent, and a doubling of premiums won’t be out of the question, according to a new Yardi Matrix […]

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Landlord fines for building emissions could hit $900M by 2030

Local Law 97 is going to be costly to New York City landlords, according to a report on projected fines when the regulation comes into effect. More than 3,700 properties may run afoul of the law and penalties could soar above $200 million as soon as next year, according to the study conducted by Level Infrastructure and commissioned by the Real Estate Board of New York. Penalties are expected to worsen drastically by 2030, the

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Glenwood aims for Local Law 97 compliance with carbon capture aid

As landlords scramble to come into compliance with Local Law 97, one building owner notched a citywide first in its bid to cut emissions. Glenwood Management moved the city’s lone carbon-capture rig into the basement of the Grand Tier, a high-end apartment building on the Upper West Side. Bloomberg reported the rig was installed last year and takes up roughly six parking spaces. The rig at the 30-story residence consists of pipes and compressors. It

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