News
NY APTS ARE ALL LEASED UP
February 8, 2012
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| WeiserMazars’ Ron Lagnado joins us for his third consecutive year of moderating our Bisnow New York Multifamily Summit on Feb. 17 at The Roosevelt Hotel. We had lunch with him at Bobby Van’s in 135 W 50th St, the same building that houses his office. (The lobby has a “big apple” containing a crystal clear model of the World Trade Center site.) Ron tells us concessions are going, going, almost gone and the apartments Ron has dealt with in the past year are 98% occupied, so he’s expecting the other panelists to report solid returns at our event in just over two weeks. Sign up here to be there at the moment of truth! |
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| Affordable housing (returns through incentives/subsidies) and luxury (returns through charging a lot) are the sweet spots for development. One example banking on big rents and big returns: Extell Development’s One57 under construction now (above—that’s exactly how we look when we leave the house, too!). Middle-market units, on the other hand... developers used to be able to build at 0% down, and now they need to lay down 20% to 30%. |
