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Recent Articles

ArticleMarket Insights
December 4, 2023

How To Move Forward in Today’s Multifamily Market

There are 60,000 vacant stabilized apartments in NYC (not including 4,800 from NYCHA), yet we have rents hitting all-time highs and people living on the street. Something has to give. The city is running out of resources and eventually it will have no choice but to incentivize the private sector by cutting the red tape. If you believe something has to give, then this is a great reason to buy multifamily buildings in New York. Do I Own Rent Stabilized Or Affordable Housing? Right now, prewar buildings are not inherently…
ArticleBlog PostMarket Insights
October 24, 2023

What Happens Next To The Multifamily Market In New York?

On October 2nd, the Supreme Court of the United States put to bed CHIP v HSTPA by denying hearing a challenge to the rent laws of 2019. Since SCOTUS historically takes two percent of the cases that come to their desk this wasn’t a big surprise but more like a batted down Hail Mary pass. For the most part, the market has already priced in a SCOTUS denial because rent stabilized buildings have been selling for the past four years mostly based on interest rates, location, and property condition –…
ArticleBlog PostMarket Insights
September 11, 2023

3 Events That Will Change the Multifamily Market

We are entering the fourth quarter of 2023 with investment sales velocity down 50% over the same period last year. Valuations are down and owners have been slow to divest their assets. Rates have soared in the past 18 months to unsustainable levels so much so that Signature Bank, one of the premier lenders, went belly-up. Low sales velocity is not sustainable and it’s reaching its tipping point. There are three events that are converging on the multifamily market, seemingly all at once, which will shape the market for years…

Deals of The Week

New York Multifamily Partners Joe Koicim, Shaun Riney, and Seth Glasser discuss the deals they’re most excited about