Insights

2023 Real Estate Review: Office landlords feel the pinch

2023 Real Estate Review: Office landlords feel the pinch

Businesses are fleeing sprawling offices, and experts say the market has plenty of room to fall before it hits bottom. "We have not yet bottomed out. The reason for that is there are still companies with leases that are going to expire in the next few years that are likely to be rightsizing."

4 min 31 sec

Ciminelli Real Estate begins leadership transition to next generation

Ciminelli Real Estate begins leadership transition to next generation

Paul Ciminelli, longtime president and CEO of Ciminelli Real Estate Corp., named his son, Kyle, as company president this week, anointing him as eventual successor to the top job as part of a planned transition. "My goal has always been to make this a third-generation company," Paul Ciminelli said.

1 min 46 sec

Q4 2023: The Ciminelli Scoop

Q4 2023: The Ciminelli Scoop

The last newsletter of 2023 is here! The final quarter of 2023 included award winning Ciminelli projects and people, our team's first year attending the WNY Sustainable Business Summit, and an open house at one of our investment properties in Boston, MA!

1 min 20 sec

Brisk condo sales underway at Bethune Lofts

Brisk condo sales underway at Bethune Lofts

Nearly 45% of the 87 market-rate apartments at the four-story building have now been sold, indicating strong interest in residential ownership in a city that has not traditionally had a large condo market.

2 min

Bethune condo sales near halfway point

Bethune condo sales near halfway point

716 Realty Group has neared the halfway mark with 39 units under contract at The Bethune Lofts condominium project, where Ciminelli Real Estate Corporation is converting the complex's 87 apartments into condos.

1 min 36 sec

Ciminelli Starts Selling Bethune Lofts As Condos

Ciminelli Starts Selling Bethune Lofts As Condos

“We think the market is right. We think the timing is right,” Ciminelli CEO Paul Ciminelli said. The units are now being offered through 716 Realty Group, at prices ranging from the middle $100,000s and up to the high $300,000s. Twelve units are available, including a two-bedroom model unit on the ground floor.

2 min 9 sec