Stock market trading activity is very low. According to a WSJ article because the economy is not too hot, and not too cold, investors are acting as if the best move is not to make any move at all. In the world of investing, is holding cash (and not investing) a good investment? For NYC multifamily, after the pricing peak in late 2015 and subsequent transition (where prices declined between 5-8%), pricing has been somewhat flat in 2017. Multifamily investors are asking the same question: what is the right move…
NYM GroupJuly 14, 2017
Anticipation and fear of significant changes in the lending market have been on people's minds for the last 9 months. It's been the big talk among anyone in NYC interested in real estate. But has anything really changed? In order to answer that question, I asked Andrew Dansker from our Capital Markets team to highlight current financing trends as they relate to the NYC market. Lets hear from Andrew…
NYM GroupJune 20, 2017
Hi There. Looking forward to you contributing to Behind the Bricks. It’s a great format to get information out to the New York Multifamily community and to establish yourself as a thought leader. I would like to give you some criteria for your guest posts. All of my posts are created to: Provide Free Value Offer Actionable Advice to our Audience In order for this to occur, it also has to have qualities that will help its exposure grow. Take a look how, below: Real Info, Real Content. Get into the…
NYM GroupJune 2, 2017
I was more than pleased with the brokerage services provided by Peter, Joe, and the rest of the New York Multifamily team. After owning our midtown asset for many years, I was also delighted that the team was able to assist me in a 1031 exchange and subsequent purchase of multiple NNN (triple-net) properties. As a result of their work, my cash flow has more than doubled. For anyone looking to make this transition, I would highly recommend using them.
NYM GroupMay 18, 2017
The selection of an asking price can cause a lot of confusion among sellers, their brokers and buyers. Using an appropriate asking price is a huge strategic advantage for sellers, and requires navigating topics like trust (are they truly representing me?), competency (do they know the market?) and capability (can they get it done?) with your broker. Therefore, it can often seem like the interests of the seller and broker are not aligned. I can recall a time when Rose, an elderly widow, forced me to price her $30MM Brooklyn…
NYM GroupMay 9, 2017
So far 2017 has been the opposite of what the experts’ predicted. When compared to one year ago, our teams’ inventory and transaction volume is substantially higher. Why? With the new government and rate increases wasn’t the market supposed to be slower? Lets explore… The first major trend emerging is more product is coming to market. This is showing up as more potential sellers are asking for “opinions of values” and our listing inventory is up approximately 35%. To understand why, consider the mindset of the sellers. Five months ago,…
NYM GroupApril 12, 2017
“It is my pleasure to acknowledge Joe Koicim, Peter Von Der Ahe, and Seth Glasser on their selling of my buildings on 139th Street in Harlem. Not only do I commend their ability to execute the objective in selling our assets, through their extended team, they were able to locate Triple-Net (NNN) buildings which allowed me to do a 1031 exchange and increase my cash flow significantly. Without hesitation I recommend them and keep them in the highest regard.” -Steve, Former Owner of 515 & 526 West 139th Street
NYM GroupApril 4, 2017
Foreign capital has always influenced the New York City market. They love it. Once while walking a foreign investor through the Upper East Side, we passed two identical buildings: the first, 100% occupied and the other, vacant with boarded up windows. The out-of-town investor looked at the vacant building and said "maybe I should buy that one..." assuming a discounted price. This is one of the nuances of the NYC multifamily market: vacant buildings are often more valuable than occupied because they are not encumbered by leases. As one client…
NYM GroupApril 4, 2017
“I was fortunate to meet Shaun Riney and the New York Multifamily team who were extremely professional and diligent at every step of the process. After having been in the business since 1985, I have never experienced this level of competency, toughness, honesty and dedication through every twist and turn as was exemplified with this team.” -Gina, former owner of 35 Claver Place
NYM GroupMarch 18, 2017