It can be lonely living alone, especially during a pandemic, so some renters are finding new places with friends and sharing both the experience and the rent. In New York, where high rents, small apartments and vibrant social lives were, until recently, hallmarks of life, roommates were seen by many as a financial necessity rather…
The year 2020 has been a long and hard slog for everyone, including the experts in the multifamily field. To be sure, apartments have weathered… The year 2020 has been a long and hard slog for everyone, including the experts in the multifamily field. To be sure, apartments have weathered the pandemic relatively well, holding…
The year 2019 was a whirlwind for New York City real estate, especially when it comes to the New York multifamily market. In June, Governor Cuomo signed into law the Housing Stability and Tenant Protection Act, which constituted major changes to the New York Landlord/Tenant Law and, more specifically, the Rent Stabilization Law. The Housing…
In the current climate, where all aspects of New York City real estate have gone virtual, it is more apparent than ever that building owners and property managers must embrace and utilize a technology suite. With social distancing and remote work, which will remain as offices begin to gradually and partially reopen, the real estate…
April collections held steady for some, but others saw a significant drop-off as all brace for May Dan Michaels, of the Los Angeles-based real estate investment firm Stockdale Capital Partners, had a gut feeling late last year that it was time to launch a commingled distressed debt fund. Dan Michaels of Stockdale Capital Partners Prior…
Six months after Albany passed its sweeping tenant protections, the city’s multifamily market is feeling the strain Soon after Albany passed its overhaul of the state’s rent law in June, real estate firms with big rent-stabilized holdings took a major hit. Months earlier, David Bistricer’s real estate investment trust Clipper Equity, which owns more than…
Robert Morgenstern, founder of Morgenstern Capital, explains why the next growth story in the Big Apple’s multifamily landscape is about the right submarkets and new verticals. Investors are recalibrating their investment strategies after the approval of New York City’s new rent control laws. Some are heading south for new opportunities and others are digging deeper…
The Parkoff Organization has nearly 4000 units in New York City, 75% of which are rent-stabilized New York Multifamily Summit A Halloween panel of multifamily industry players had sobering market predictions — and a call to action — for an audience of landlords, investors and brokers. “We are seven votes shy of universal rent control….