The Consequences & Opportunities of Getting to 2% Inflation
With so many people unsure of what to do with their real estate holdings and the uncertainty that has been placed on our business recently, these are the questions that I get asked every day. The best way I can answer that question is not by telling you, but by showing you, deal by deal....
In Detail: Who Is Buying And Who Is Selling?
With so many people unsure of what to do with their real estate holdings and the uncertainty that has been placed on our business recently, these are the questions that I get asked every day. The best way I can answer that question is not by telling you, but by showing you, deal by deal....
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....
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 where our business is headed....
Compliance And The Future Of New York City Real Estate
Future values in New York will not be tied only to interest rates and rent stabilization. There’s another piece to the pricing puzzle that doesn’t have to do with upside in rents, NOI, rising expenses, or location. It’s compliance....
NYC Multifamily Q4: The Changing Relationship Between Banks & Borrowers & Government
In this article I’ll go over how New York multifamily investors are navigating challenges presented to them by lenders, the federal government, and local bureaucracies....
NYC Multifamily: What Just Happened And Where Are We Going?
Are you thinking of selling but don’t know when? I’m going to review four upcoming milestones in 2022 that sellers should consider before deciding when to put a building on the market....
The 4 Key Players You Need For a Successful Multifamily Deal
Are you thinking of selling but don’t know when? I’m going to review four upcoming milestones in 2022 that sellers should consider before deciding when to put a building on the market....
4 Crucial Market Events that Will Impact Your NYC Multifamily Sale in 2022
Are you thinking of selling but don’t know when? I’m going to review four upcoming milestones in 2022 that sellers should consider before deciding when to put a building on the market....
Rising Rates & Inflation: What Should You Do?
The most common question clients ask me is: what’s happening in the market today? I answer this question with comparable context. Let’s review how interest rates, property taxes and compliance in the beginning of 2022 are different from the end of 2021.
Spoiler Alert! The factors we’ll run through have negative impacts on value, but the result of my findings is that values have remained remarkably stable.
The Three Most Influential Factors Impacting Upper Manhattan & Bronx Apartment Buildings In 2022
The most common question clients ask me is: what’s happening in the market today? I answer this question with comparable context. Let’s review how interest rates, property taxes and compliance in the beginning of 2022 are different from the end of 2021.
Spoiler Alert! The factors we’ll run through have negative impacts on value, but the result of my findings is that values have remained remarkably stable.
NYM Metrics – Q4 2020
NYM had an active Q3 2020 with a total of $495,384,050 in activity!
Selling Manhattan Trophy Properties for $100,000,000 + During the Pandemic
In spring 2020, NYC was the national epicenter of COVID-19. And while people and the city are starting to recover, the economic and real estate impacts of the pandemic are still being felt.
All property operators, sellers, and buyers are affected by recent changes and have questions about how to navigate the obstacles and opportunities of the real estate landscape right now.
How COVID-19 Will Affect Multifamily in the Next Year
In spring 2020, NYC was the national epicenter of COVID-19. And while people and the city are starting to recover, the economic and real estate impacts of the pandemic are still being felt.
All property operators, sellers, and buyers are affected by recent changes and have questions about how to navigate the obstacles and opportunities of the real estate landscape right now.
NYM Metrics – Q3 2020
NYM had an active Q3 2020 with a total of $495,384,050 in activity!
NYM Metrics – Q2 2020
As the market adjusted, NYM had an active Q2 2020 with a total of $316,517,000 in activity!
Today’s Obstacles & Opportunities in NYC Multifamily
In spring 2020, NYC was the national epicenter of COVID-19. And while people and the city are starting to recover, the economic and real estate impacts of the pandemic are still being felt.
All property operators, sellers, and buyers are affected by recent changes and have questions about how to navigate the obstacles and opportunities of the real estate landscape right now.
NYM Monthly Metrics – March 2020
NYM had an active month in March with a total of $269,023,457 in activity! In March we closed on and put under contract properties totaling $184,778,457.
50% Stabilized Asset Sells for $8,000,000 in NoLita
New York City’s NoLita neighborhood is a desirable area for multifamily owners because it's an epicenter of young professionals, high-end stores, and trendy restaurants.
With proximity to surrounding neighborhoods, like SoHo and the East Village, NoLita is a very attractive location for renters.
NYM Monthly Metrics – February 2020
NYM had an active month in February with a total of $275,040,000 in activity! This month we listed 12 properties totaling $134,965,000.
Last month we closed on 1388 Second Avenue for $5,975,000. The building contains 9 residential units and 2 commercial units.
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.
NYC Multifamily 2020 Outlook
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.
Boston Buyer Diversifies Portfolio with $22,000,000 West Village Property
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 Monthly Metrics – October 2019
NYM had an active month in October with a total of $277,468,000 in activity! This month we placed 9 deals under contract, closed $69,696,000 and listed 21 properties totaling $140,940,000.
Last month we closed on a fully free market building located at 36 West 21st Street for $4,650,000. The property closed at a 4.7% cap rate for $905 p/sf.
New York Multifamily Team Uses Extensive Network to Quietly Close $37 Million Tribeca Asset
In order to successfully sell this building, the owner of 186 Franklin St. needed to work with a real estate team that had connections with buyers who could pay the high price for a property like this one. That’s why they went with New York Multifamily.
Our team closed on this Manhattan building in May 2019 for $37.4 million. Here’s how both the buyer and seller found what they were looking for.
Why You NOW Need a Specialized Multifamily Team Even More
While we all knew the laws were coming, about 90% of owners we surveyed felt the laws were worse than expected.
The industry has become much more complex. These laws have disrupted the market and your world as an investor might feel chaotic right now.
Team Effort Creates $18 Million Brooklyn Multifamily Sale For Win-Win Scenario
The New York Multifamily team closed on this Brooklyn asset — a $18,000,000 building of 67 units — in early summer 2019.
Here’s how the deal came together and how it was a win-win for both the buyer and the seller.
NYM Monthly Metrics – August 2019
NYM had an active month in August with a total of $197,710,000 in activity! This month we closed 6 deals for a total of $46,275,000 and listed 22 properties totaling $113,215,000.
We recently listed a 10-unit protected tax class 2B opportunity at 51 East Houston Street in NoLiTa for $10,950,000. We also brought to market 610-614 Crescent Avenue in the Bronx, a 49-unit property in prime Little Italy location right off of Arthur Avenue for $7,200,000.
NYM Monthly Metrics – July 2019
NYM had one of the most active months of the year so far as the multifamily industry continues to adjust to the impact surrounding the new rent laws.
In July, we had a total of $352,002,556 in activity! This month we placed $112,550,000 under contract and listed 14 properties totaling $205,700,000.
5 Questions YOU Should Ask Post 2019 Rent Reform
Living in NYC will be dramatically reshaped. The "2019 Rent Reform Act" immediately implements state-wide rent caps on rent stabilized apartments and more strict landlord controls, as the government vastly increases its power over these buildings.
The political change which allowed the bill to pass, was created when Democrats took control of the New York State Senate, which has been typically held by Republicans. In a way, this change is the result of “anti-trump” votes that flipped those senate seats in the mid-terms of 2018. This effectively created a 1-party rule throughout New ...
Jeff Bezos Has An Answer for the Future of RE Tech
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.”
NYM Monthly Metrics – June 2019
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.
Queens Building Sells for $36,375,000; Owner Increases Cash Flow & Reduces Management
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.
7 Potential Changes to NYC Rent Laws
Current NYC Rent Regulation laws are set to expire June 15th, 2019.
In order to make good on their promises to constituents, these lawmakers have introduced several new pro-tenant bills.
NYM Monthly Metrics – May 2019
After an extended period of higher rental supply in New York City, a series of interesting shifts are occurring.
The lack of new construction, high land and construction costs, and historical trends show us that this era of excess supply and falling rents is coming to an end.
NYC’s Rental Supply — And its Impact on the Rental Market
After an extended period of higher rental supply in New York City, a series of interesting shifts are occurring.
The lack of new construction, high land and construction costs, and historical trends show us that this era of excess supply and falling rents is coming to an end.
5 Dangerous NYC Property Management Mistakes to Avoid in 2019
As the New York City multifamily market evolves, management evolves with it.
This month, I have asked Rob Morgenstern of Canvas Property Group to provide insights on third-party management for multifamily owners.
Experience and Presence in Submarkets Help Close $112M Brooklyn/Queens Portfolio
In New York City, it’s always challenging to close the sale of a multifamily portfolio. It’s especially challenging in 2019 when the properties are spread across 2 boroughs.
The New York Multifamily team of M&M closed such a portfolio of assets in Brooklyn and Queens — a $112,000,000 portfolio of 6 properties representing 423 units and 426,749 square feet. The portfolio ultimately sold to a single buyer. Here’s a look at how this deal came together, and the challenges faced on the path to closing.
How Multifamily Owners Can Take Advantage of Opportunity Zones
When the 2017 Tax Cuts and Jobs Act passed, accountants, investors, entrepreneurs and others scrambled to understand the implications- for multifamily owners there is one clear benefit, the creation of Qualified Opportunity Zones.
This month, I have asked Michael Hurwitz and Abe Schlisselfeld of The Real Estate Group at Marks Paneth LLP to provide some insight about these Qualified Opportunity Zones (“QOZ”).
The Scene in 2019: What to Expect in the NYC Multifamily Market
New York City multifamily owners are bombarded with an overwhelming amount of information they need to process. What information really matters?
As our team looks at the current environment, we believe 3 trends deserve focus in 2019.
$60,000,000 Manhattan & Bronx Portfolio Sale Maximizes Equity
Every NYC multifamily portfolio transaction comes with its own unique set of challenges. In some cases, multiple partners own a portfolio, which can make it difficult to gain alignment among the various interests. In others, the buildings are located in separate neighborhoods, making it difficult to find a single buyer.
And further, properties within a long-term portfolio often have deferred maintenance, violations or other non-conforming uses, that can impede a sale.
5 Reasons to Purchase Repositioned Assets
The secret to long term investing is figuring out how to be active in every market. It’s all about having a “line in the water.” Today, most NYC multifamily investors have been pushed to seek higher yield, and sometimes more risk, in their investments.
This has kept pricing very competitive in the value-add segment of the NYC multifamily market, while pricing on repositioned and finished assets have softend since 2015. Some observers call this a “mispricing of risk.”
$104,135,000 in NYC Sales to Close Out Summer
While transaction numbers have generally been in NYC, the New York Multifamily team at Marcus & Millichap closed more than $100 million in sales in the back half of summer 2018.
With 18 closed sales this summer across Manhattan and the boroughs and another 22 in contract, it was an active summer.
The History & Workings of NYC Regulation
Home to some of most coveted real estate in the world, it is no surprise that living in New York City comes with a hefty price tag.
What if I were to tell you that there was a way to legally avoid paying market rent for an apartment in the Big Apple, would that be something you might be interested in?
Hybrid Marketing Key to 350 Unit, NYC Portfolio Sale for $91,900,000
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.
7 Habits of NYC’s Most Successful Real Estate Entrepreneurs
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.
$16,850,000 in Upper Manhattan Buys a 107-Unit, Affordable Housing Portfolio.
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.
Learn These 5 Insurance Clauses, OR You’ll Regret it When Renovating In NYC
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.
The Secret Art of Pricing NYC Multifamily Properties
I hear this question every single week: Where should I price my property and why?
We often hear brokers of multifamily properties dispense conflicting and even bad advice on this topic.
Why 2018 Is a Multifamily Opportunity
A few “macro” NYC Multifamily Investment trends are emerging this year.
Based on feedback from both private clients and institutional capital sources, there is a consistency in positive messaging that needs to be shared.
7 Reasons Why NYC RE Investors Will Like the New Tax Law
December 20th, 2017 marked the passage of the first major overhaul of the tax code in decades. This event ends a year of uncertainty. It will have wide-reaching effects on the economy.
Although not everyone is happy with the new tax code, real estate investors will find that it provides them with favorable tax treatment with large tax cuts for corporations and pass-throughs such as LLCs.
$75,930,000, 18-Building Portfolio Is Brooklyn’s Largest Sale In 2017
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.
NYM Team Sells 7 Building West Village Portfolio for $110,260,000
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.
3 Crucial Considerations When Dissolving a Real Estate Partnership
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.
With 40% Lower Sales Volume, NYC Multifamily Investors Question Next Move
With sales numbers in for the first three quarters of 2017, it has given us an opportunity to look back over the year to make and share some insights into the market.
Overall, across all of New York City, 2017 sales volume is down approximately 40%.
Lower East Side: NYM Team Sources New Capital in $61,500,000 Sale
To be a successful seller in this market you need the right broker, using the right process, who provides accurate pricing guidance.
This story is timely given today’s phase of the real estate cycle. In a flat market, investors cannot make mistakes. It’s imperative you work with a specialist.
It’s Not What You Make, It’s What You Keep: Tax Savings for NYC Multifamily Owners
It's not what you make, it's what you keep. While helping New York City owners buy and sell investment properties, the ultimate objective is very clear: either improve cash flow or increase appreciation.
Becoming more tax efficient is a very important part of that strategy. This month, I have asked Rob Rahner from Cost Recovery Solutions to explain cost segregation and why it's beneficial for New York City multifamily owners.
Behind the Bricks – The Podcast
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.
The goal of these talks is to go behind the transactions and explore what drives these individuals and the investment choices they make.
5 Multifamily Strategies for a Flat Market
Stock market trading activity is very low. According to a WSJ article because the economy is not too hot, and not too cold, investors are acting as if the best move is not to make any move at all. In the world of investing, is holding cash (and not investing) a good investment?
For NYC multifamily, after the pricing peak in late 2015 and subsequent transition (where prices declined between 5-8%), pricing has been somewhat flat in 2017. Multifamily investors are asking the same question: what is the right move in a flat market?
3 Ways Lenders Are Impacting the NYC Market
Anticipation and fear of significant changes in the lending market have been on people's minds for the last 9 months. It's been the big talk among anyone in NYC interested in real estate. But has anything really changed? In order to answer that question, I asked Andrew Dansker from our Capital Markets team to highlight current financing trends as they relate to the NYC market. Lets hear from Andrew…...
Midtown: Owner Sells for $33,000,000 and Doubles His Passive Income
I was more than pleased with the brokerage services provided by Peter, Joe, and the rest of the New York Multifamily team. After owning our midtown asset for many years, I was also delighted that the team was able to assist me in a 1031 exchange and subsequent purchase of multiple NNN (triple-net) properties.
As a result of their work, my cash flow has more than doubled. For anyone looking to make this transition, I would highly recommend using them.
The Asking Price: When Asking Less Gets You More
The selection of an asking price can cause a lot of confusion among sellers, their brokers and buyers. Using an appropriate asking price is a huge strategic advantage for sellers, and requires navigating topics like trust (are they truly representing me?), competency (do they know the market?) and capability (can they get it done?) with your broker. Therefore, it can often seem like the interests of the seller and broker are not aligned.
I can recall a time when Rose, an elderly widow, forced me to price her $30MM Brooklyn portfolio 25% over market, saying “Sometimes you got to ask a...
3 Reasons the NYC Multifamily Market Is More Active Than Predicted
So far 2017 has been the opposite of what the experts’ predicted. When compared to one year ago, our teams’ inventory and transaction volume is substantially higher. Why? With the new government and rate increases wasn’t the market supposed to be slower? Lets explore…
The first major trend emerging is more product is coming to market. This is showing up as more potential sellers are asking for “opinions of values” and our listing inventory is up approximately 35%. To understand why, consider the mindset of the sellers. Five months ago, interest rates moved up for the fir...
Harlem: Steve Sold on 139th Street, Doubled his Cash Flow, and Reduced Management… How?
“It is my pleasure to acknowledge Joe Koicim, Peter Von Der Ahe, and Seth Glasser on their selling of my buildings on 139th Street in Harlem. Not only do I commend their ability to execute the objective in selling our assets, through their extended team, they were able to locate Triple-Net (NNN) buildings which allowed me to do a 1031 exchange and increase my cash flow significantly. Without hesitation I recommend them and keep them in the highest regard.”
-Steve, Former Owner of 515 & 526 West 139th Street
Brooklyn: Overcoming Loft Law Hurdles to Sell Building for $1,000,000 / Unit
“I was fortunate to meet Shaun Riney and the New York Multifamily team who were extremely professional and diligent at every step of the process. After having been in the business since 1985, I have never experienced this level of competency, toughness, honesty and dedication through every twist and turn as was exemplified with this team.”
-Gina, former owner of 35 Claver Place
3 Ways to Guide Foreign Investors in the NYC Market
Foreign capital has always influenced the New York City market. They love it. Once while walking a foreign investor through the Upper East Side, we passed two identical buildings: the first, 100% occupied and the other, vacant with boarded up windows. The out-of-town investor looked at the vacant building and said "maybe I should buy that one..." assuming a discounted price.
This is one of the nuances of the NYC multifamily market: vacant buildings are often more valuable than occupied because they are not encumbered by leases. As one client put it, "In the Midwest I am trying to keep ...
Winning in New York City’s Rental Market
The dynamics of the rental market in New York City have changed. The New York Times, Wall Street Journal, Real Deal, and others are running articles about the shift in rents. Let's take a deeper dive...
How did we get here? Market rents in NYC have risen dramatically over the past five years. In many cases, year-over-year increases were in the double digits as owners and developers realized a very strong demand from millennial renters who "paid up" for high-quality renovations and building amenities.
NYC Multifamily Owners: What are the 3 R’s of 2017?
Welcome to 2017! This year we look forward to the growth that (hopefully) comes from a more favorable business environment. The past 12 months have been marked by uncertainty as prices, rents, financing, equity, and government regulations all changed. We hope the year ahead will bring resolution where needed--and looking forward--we focus on three categories: Rates, Rents, and Regulation. These are the "Three R's of 2017."
Rates: Interest rates have started to rise and indications are such that we should anticipate moderate future increases. To hold its value, a property's rents must ...
Who is Joey 1 Cap? (And Why do NYC Properties Sell at 2% Cap Rates?)
When I first started in the real estate business, I remember a distinct conversation I had with one of the titans of the NYC real estate industry. This owner currently controls over 10,000 units, and he shared a piece of his investment philosophy with me. He did so by telling a story about the appropriate time to harvest fruit from a newly planted tree, which he said should not be done in the first seven years.
I have thought about this conversation many times when new-to-market buyers ask me, “Why do properties in New York sell for 2% cap rates?” Let’s discuss four primary reason...
The 4 Mindsets of NYC Multifamily Investors
2016 was a transitional year in many ways for the New York City multifamily business. Financing, buyers' mindsets, pricing, rents, and other aspects of the business changed. To gain a better understanding of our clients, we surveyed several thousand owners and investors about various market topics. I think you'll be surprised at some of the answers I'll share with you below.
Are you Buying Next Year? Many investors pointed out that we are in the late stages of a market cycle, and are therefore more selective about what they purchase. That said, our first question was: "Do you pla...
5 Election Takeaways for NYC Multifamily Investors
What does the election mean for New York City Multifamily owners? Will it impact values? Will rents go up or down?
Our research team at Marcus & Millichap released a special report highlighting the impact that Trump’s presidency will have on multifamily owners. The election results may redefine the playing field and it is important to understand the implications involved in this governmental change.
DUE DILIGENCE: How has it Changed for New York City Multifamily Owners?
The political and regulatory environment for New York City Multifamily owners is becoming increasingly complex. The real question is, how has it affected values and transactions?
One direct impact is the process required to sell a building has changed. Instead of due diligence being a formality, it has become a major part of the process and critical for the seller to maintain pricing.
Want to Increase Cash Flow? Let’s Talk (ROE) and (NNN)
Recently I was asked by a New York City property owner why so many of our clients sell their New York apartment buildings and buy triple net (NNN) properties? While I encounter individuals who would never make this transition, for those that do, there are consistent patterns in their thinking. They want the same things: less complexity, more free time, and increased cash flow. What we are really looking at here is something called the "return on equity" (ROE). Simply defined, your return on equity can be found by dividing your net cash flow – (net of all expenses and mortgage payments) –...
RGB to New York: 0% Again Folks.
Brexit and Rent Guidelines 0% Vote, What Does It All Mean? 2016 has turned out to be a year of mixed signals. Some promote new investments, and others expose future risks....
Why Multifamily Will Out-Perform In 2016
After an uncertain start to 2016, distinct investment trends are taking shape as we enter the second quarter. The performance of different real estate is varying depending on the asset type....
2015 Breaks All Records
As expected, 2015 was a record-breaking year for the investment sales market. The dollar volume traded was the highest in the city’s history and many transactions (like Stuy Town)...
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