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All participants in commercial real estate are hunting for a competitive advantage. Whether you are an investor, broker, or other player, you have probably explored technology to improve your success. And technology is a great tool. But, there is much more to the story.
When talking about the future, you may be surprised to know that Jeff Bezos advised us to “focus on what doesn’t change.”
June was a monumental month for the entire NYC multifamily industry as owners, operators and professionals digest the impact of the new rental laws. The NYM team is conducting market research in order to give our valued clients a better understanding of what this means for the market and all NYC multifamily owners. I will be in touch with our unique insight as it becomes available.
Despite the shake up, we had an active month. In June we had $212,394,573 in activity at NYM! This month, we closed 11 deals for a total of $53,494,573. We also listed 16 properties totaling $133,275,000.
In New York City today, there’s a growing movement of owners looking to sell large, prewar multifamily assets. These owners have typically owned the building for over 30+ years
and are hoping to take the next step in their personal or investment lives. Recent rent legislation has only increased this desire.