Manhattan, NY On January 24th, Herrick, Feinstein LLP hosted the Young Mortgage Bankers Association’s (YMBA’s) first event of the new year, and the first under new president Joe Pizzutelli. YMBA’s speakers gave attendees updates on a range of issues, including how tax reform will affect commercial real estate investment, advancements in real estate technology and the outlook for New York City air rights transactions in the new year.
Before and after the educational sessions, guests had an opportunity to catch up over drinks in Herrick’s 2 Park Ave. event space.


New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,