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.
NYM GroupApril 10, 2019
When the 2017 Tax Cuts and Jobs Act passed, accountants, investors, entrepreneurs and others scrambled to understand the implications- for multifamily owners there is one clear benefit, the creation of Qualified Opportunity Zones. This month, I have asked Michael Hurwitz and Abe Schlisselfeld of The Real Estate Group at Marks Paneth LLP to provide some insight about these Qualified Opportunity Zones (“QOZ”).
NYM GroupJanuary 28, 2019
New York City multifamily owners are bombarded with an overwhelming amount of information they need to process. What information really matters? As our team looks at the current environment, we believe 3 trends deserve focus in 2019.
NYM GroupJanuary 11, 2019
The secret to long term investing is figuring out how to be active in every market. It’s all about having a “line in the water.” Today, most NYC multifamily investors have been pushed to seek higher yield, and sometimes more risk, in their investments. This has kept pricing very competitive in the value-add segment of the NYC multifamily market, while pricing on repositioned and finished assets have softend since 2015. Some observers call this a “mispricing of risk.”
NYM GroupOctober 4, 2018
Home to some of most coveted real estate in the world, it is no surprise that living in New York City comes with a hefty price tag. What if I were to tell you that there was a way to legally avoid paying market rent for an apartment in the Big Apple, would that be something you might be interested in?
NYM GroupSeptember 18, 2018
I’ve met countless NYC multifamily owners and entrepreneurs. All types. Those that own 12 units, and others with yuge 5,000-unit portfolios. As a by-product of working with them, I have become a student of their success. They all share similar qualities. Regardless of your stage of life or industry, these habits transcend real estate and have something to teach us all.
NYM GroupJune 20, 2018
There are any number of reasons to separate from a real estate partnership. One partner may need to free the capital for other purposes – such as retirement or education funding. The investment’s performance may not be living up to expectations. The property owned by the partnership may require more upkeep, maintenance, or repair than anticipated, or management responsibilities may be proving burdensome.
NYM GroupApril 25, 2018
I hear this question every single week: Where should I price my property and why? We often hear brokers of multifamily properties dispense conflicting and even bad advice on this topic.
NYM GroupApril 9, 2018
A few “macro” NYC Multifamily Investment trends are emerging this year. Based on feedback from both private clients and institutional capital sources, there is a consistency in positive messaging that needs to be shared.
NYM GroupFebruary 27, 2018
December 20th, 2017 marked the passage of the first major overhaul of the tax code in decades. This event ends a year of uncertainty. It will have wide-reaching effects on the economy. Although not everyone is happy with the new tax code, real estate investors will find that it provides them with favorable tax treatment with large tax cuts for corporations and pass-throughs such as LLCs.
NYM GroupJanuary 17, 2018