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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I’ve met countless NYC multifamily owners and entrepreneurs. All types. Those that own 12 units, and others with yuge 5,000-unit portfolios.
As a by-product of working with them, I have become a student of their success. They all share similar qualities. Regardless of your stage of life or industry, these habits transcend real estate and have something to teach us all.
New York’s real estate market beats to an entirely different rhythm to any other in the world. Here, we have everything; fast-paced transactions with property which changes hands rapidly sitting next to ancient buildings which have been held by the same families for generations.
The recent sale of the a family’s Greenwich Village portfolio perfectly represents the antique side of New York – the low-velocity, long cycle of property which rarely changes hands and are often the architectural and cultural heritage of the city.
There are any number of reasons to separate from a real estate partnership. One partner may need to free the capital for other purposes – such as retirement or education funding.
The investment’s performance may not be living up to expectations. The property owned by the partnership may require more upkeep, maintenance, or repair than anticipated, or management responsibilities may be proving burdensome.