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Seth Glasser

Blog PostMarket Insights

Extend and Pretend: A Glimmer of Hope

In real estate, there exists a strategy known as extend and pretend. It refers to a practice where loans are extended and losses are deferred, all to maintain the façade of stability and prosperity. However, this once popular and seemingly effective approach is now standing on the precipice of collapse. The cracks in its foundation are becoming increasingly apparent, and the consequences of it loom ominously overhead. Nowhere is this truer than in the New York City multifamily marketplace. Four years ago, the business included 3 caps, cheap debt, generous…
Seth Glasser
July 13, 2023
Blog Post

New York City Rent Guidelines Board Testimony

On June 13, 2023 I submitted my testimony to the New York City Guidelines Board - you can submit yours too by June 15, 2023 here. Below you can watch and read my testimony. I'm Seth Glasser, a New York City multifamily commercial real estate broker and cohost of the New York City Multifamily Podcast. I am not speaking to you as an owner, rent stabilized tenant or even New York City resident. Think of me as a concerned citizen.  I'd like to highlight a hard truth—costs are rising in…
Seth Glasser
June 15, 2023
Blog PostMarket Insights

2023: A Decision-Making Year

As we move further into 2023, we are getting a better idea of what the remainder of the year will look like for the NYC multifamily market. To figure out what the future holds it’s often helpful to study the past. I’ve assigned a “theme” to each year: 2019 = HSTPA; 2020 = COVID; 2021= revitalized economy; 2022 = rising rates; And 2023 = decision making.
Seth Glasser
February 28, 2023
Market InsightsMarket Update

2023: Unknowns, Questions & Predictions For the Year Ahead

2022 finished much slower than it started with Q4 bringing a lot of uncertainty and trepidation to the market. Brokers woke up every Monday morning not knowing which deals would sign and close and which deals would fall apart.  Calling a buyer on a Monday was like calling the doctor for your test results – you knew you had to do it, but you were nervous with what they might say. But alas, 2022 is in our rearview mirror it’s time to look at 2023 and make some predictions with…
Seth Glasser
February 15, 2023