As landlords struggle to navigate New York regulations and as loans backed by multifamily become increasingly at risk, some owners are attempting to make a dash from the asset class before their day of reckoning comes. To most, acquiring apartments or building new no longer makes sense since the expiration of the 421-a tax abatement. But during a Bisnow panel Thursday about penciling out multifamily deals in the challenging capital markets environment, developers Rockrose and Tishman Speyer said they are eager to make moves.
“I consider the next two years to potentially be some of the best of my career,” Ty Barnes, managing director of affordable and workforce housing at Tishman Speyer, said at Bisnow's New York Multifamily Development and Investment event, held at Convene 225 Liberty St. Last year, just 1,035 properties traded hands… Read the full story here. |