News
MOVEMENT FOR DOWNTOWN MULTIFAM
March 4, 2010
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| Tuesday, we bumped into Buttonwood Development prez Andrew Heiberger, Citi Habitats’ Joann Ebanks and Itzy Garay, First Residential Brokerage prez Joe Lops, and Citi Habitats prez Gary Malin at REBNY’s member luncheon. Joann, the top producer in the firm’s Downtown office, and Itzy, the office’s managing director, gave us a snapshot on the submarket’s multifamily sector. Rentals are extremely busy, they tell us, and they’ve already done more business than than this time last year. Buyers are looking in the under $5M range, and open houses are crowded; the feeling is units are finally priced right, so product is moving quickly. However, they note, Downtown still suffers a lack of inventory in high-end rentals. |
