ARTICLES
ARTICLES
ARTICLES
ARTICLES
New York Multifamily Market Insights
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 GroupJune 16, 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.
NYM GroupApril 2, 2020
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 GroupMarch 5, 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.
NYM GroupMarch 5, 2020
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!
NYM GroupFebruary 20, 2020
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 GroupJanuary 28, 2020
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.
NYM GroupJanuary 2, 2020
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.
NYM GroupDecember 23, 2019