When rent law reform was passed in the summer of 2019, rent-stabilized investments immediately became more complicated to multifamily owners. The demand for free-market units increased, and the sale of 105-115 Greenpoint Avenue is the perfect example of that shift in today’s real estate climate
NYM GroupJanuary 28, 2020
NYM had an active month in December with a total of $312,882,500 in activity! This month we listed 16 properties totaling $189,885,000. Last month we closed on 422 East 81st Street for $6,250,000. The building contains 20 units and was 80% Fair Market. At the sale price, this equates to a 4.0% Cap Rate and $568/SF.
NYM GroupJanuary 2, 2020
When I was writing The Scene in 2019: What to Expect in the NYC Multifamily Market last year, there was significant uncertainty in our industry. In the first half of the year, we weren’t sure what was going to happen with New York’s rent reform laws.
NYM GroupDecember 23, 2019
New York’s West Village is a coveted neighborhood for buyers, and 162 West 13th Street is a great multifamily asset in this popular area. This corner building houses 36 rental units (32 residential and four commercial) and was previously owned by one family for many years.
NYM GroupNovember 26, 2019
