The New Jersey group continued the discussion of the effects of new regulations on the commercial real estate market, particularly for new construction.  From a legal perspective, turnaround times seem to be shorter and more intensive.  Construction companies and banks are taking a fresh look at how interest reserves are underwritten and how construction costs, both hard and soft, are being guaranteed. Rich Sciaretta of Claremont Companies noted that his construction completion dates are generally firm. As a result, site work may start before all funding is available to avoid delays.

Pictured above (left to right): Craig Alexander,  Richard Sciaretta and Maximilian Dorne