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…

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.”

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.

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.

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.