New Developer Aims To Restart Construction Of Stagnant Lincoln Square Project

David Waterman, a 25-year-old associate at Newmark in New York City, remembers exactly when he learned just how much brokers lean on data and technology, and the outcomes that can follow.

A ZoomInfo search helped him piece together that a company might need new space soon. He shot off an email, hoping to nab the firm as a client, and quickly received a reply — with scores of attachments. 

The response? A collection of other emails, all cold calls from other Newmark brokers, all of whom had come across the same information and made the same pitch. 

“The guy basically said, ‘You’re all chasing me,’” Waterman said. “It was a lightbulb moment for me. How do I differentiate or get in there in a way in which I don't seem like everybody else doing outreach?” 

Waterman’s experience underscores just how much data and technology have changed the way brokers scout, build relationships and transact. Tools like LinkedIn Sales Navigator, CoStar and ZoomInfo, as well as proprietary customer relationship management and data platforms designed by larger brokerages and startups, make it easier than ever to figure…

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The pullback of regional banks this year has left many small multifamily owners with limited financing options. In response, a trio of proptech veterans has launched a startup that aims to fill that gap, and it landed a big partnership to fuel its first round of deals. 

Ease Capital — founded by Reonomy co-founders Charlie Oshman and Memo Sanchez and Convene co-founder and CEO  Ryan Simonetti — has a tech platform the founders said allows them to analyze properties and underwrite loans more efficiently than the traditional lending process. The New York-based firm…

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In Case You Missed It...

While most of the recent headlines around commercial real estate have focused on distress in the office market, another crisis has been slowly brewing for the owners of the million rent-stabilized apartments across New York City.

The strain of a restricted rent roll that isn’t keeping pace with increased costs is beginning to show. Delinquency rates for loans backed by rent-stabilized buildings are on the rise, some rent-stabilized portfolios have traded for huge discounts, and others have faced foreclosures.

As more loans mature in the coming months and landlord costs keep rising, multifamily market insiders say the worst is yet to come.

“It's going to be a bloodbath,” said Ofer Cohen, founder and president of Brooklyn brokerage TerraCRG. “I'm telling you right now: It's going to be bad.”

For multifamily properties backed by securitized Freddie Mac debt built in the city before 1974, which are subject to stabilization, 4% are delinquent on their loans as of October, according to Trepp data provided to Bisnow, up from 2.9% at the start of the year. By contrast, the delinquency rate for…

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