Episode #44 - Instant Insight: Rent Stabilized Market in NYC with James Eisenberg
Today we speak with James Eisenberg, Executive Vice President at Urban American. Urban American is one of the largest and most well-known owners and managers of multifamily real estate properties in NYC. Many of their assets are in neighborhoods with mostly rent stabilized units.
In this episode, James explains how they have been adapting in the time of Covid-19. Given the virus and the changes to the laws, the art of maximizing upside and knowing when to make moves has shifted from previous times. We discuss the advantages of owning rent stabilized properties, and the path ahead.
Specifically, we discuss tenant relations and the importance of taking care of tenants in any way necessary during times of crisis… and why there is a business upside to this philosophy.
P.S. This episode was recorded right before the RGB issued its guidelines for 2020. You will hear us discuss this topic. In case you haven’t heard, the increases were 0%. So this further complicates operations for owners…but with no further ado…
Let’s dive in to hear what else James has to say…
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