Behind The Bricks is the #1 podcast on New York City Multifamily Real Estate Investing. Through discussions with the most influential NYC apartment building owners, we get a deeper look into this exciting investment industry. [click here to continue]
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Will Less Supply Bring Rent Growth in 2020 for NYC?
The rental market in NYC is changing. This year, we will witness a 59% reduction in the amount of new rental supply delivered into the market compared with 2019.
This is a 69% reduction compared to 2018!
$29,000,000 Greenpoint Sale Sets Price-Per-Unit Record
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 Monthly Metrics – December 2019
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.
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