WASHINGTON, DC—A key concern for industry firms is the looming changes to how they account for leases. The International Accounting Standards Board and the US Financial Standards Board have worked—or rather, struggled—to converge their two respective lease accounting standards, and so far the proposals have been less than pleasing to the industry.

NEW YORK CITY—In examining the Bloomberg administration's $68.7-billion preliminary budget for 2013 and long-range financial plan for 2016, an analysis released by the New York City Independent Budget Office shows that the five boroughs will demonstrate stronger gains in employment than in income, resulting in a mixed picture for commercial real estate. According to the report, IBO projects that the city will gain 435,000 jobs over the next five years, despite continued weakness in Wall Street revenues, salaries and tax collections for the city.

The major markets in the Northeast and Mid-Atlantic showed slow, steady growth in 2011, but the dual impacts of the upcoming election and uncertainty on Wall Street remain unknown, despite improving labor market fundamentals. Although the unemployment rate remained unchanged at 8.3%, the economy added 227,000 positions to US payrolls in February, making it the third consecutive month in which more than 200,000 jobs have been added—a sign of growing health for the economy.

Despite headwinds from the financial services industry, rising construction costs and political squabbling from both municipal and state agencies, leasing activity at the World Trade Center has managed to remain on solid ground. Over the past year, 7 World Trade Center reached 100% occupancy, magazine publisher Condé Nast signed a landmark one-million-square-foot deal at 1 World Trade Center and the City of New York's Human Resources Administration OK'ed a 586,000-square-foot lease to consolidate and move its administrative and executive staff to the upcoming 4 World Trade Center.

NEW YORK CITY—If 2011 serves as any indication, much of the equity generated in the industry this year may well come through recapitalizations. Last year saw a blizzard of recapsfrom the SL Green Realty Corp.'s $425.7-million recap of 180 Maiden Ln. with developer the Moinan Group, to Keystone Property Group's $23.8 million recap of Sentry Park West in Blue Bell, PA.

EAST RUTHERFORD, NJ—The economic impact of Super Bowl 2014 here could potentially generate more than $550 million in tax revenue for New Jersey's economy, according to local officials. But the success of the event is contingent upon several factors ranging from entertainment to infrastructure— even weather.

As one of the biggest commercial real estate markets in the world, it’s no surprise that Metro New York is also home to some of the most active dealmakers around. Recently, the editors of REAL ESTATE FORUM collected deal information from leasing and investment brokers across the metro area to come up with a roster of the most prolific brokers in the market. This year’s roster features the top 15 brokers or brokerage teams…

New York landlords, owners and managers are no longer going it alone when it comes to buying up core properties in the five boroughs and beyond. Here’s why.