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Market Insights

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.
NYM Group
October 3, 2019
Market Insights

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 Group
September 6, 2019
Market Insights

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.
NYM Group
August 2, 2019
Market Insights

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…
NYM Group
July 31, 2019
Market Insights

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 Group
June 28, 2019
Market Insights

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…
NYM Group
June 27, 2019