Name: Richard Maltz
Company: Maltz Auctions
What was your greatest professional accomplishment in 2019?
I am proud to announce Maltz Auctions surpassed another milestone in 2019- sales in excess of $140 million!
What are your predictions for commercial real estate in 2020?
The newly passed rent regulations will result in an increase in multi-family defaults and an increase in opportunities for well-capitalized investors. I also feel the smaller, non-regulated buildings, will see increased investor interest and value appreciation. There is an argument that greater value may be found in owning four 4-unit / free-market properties instead of one 16-unit property that is subject to rent regulation.
What was your most notable project, deal, or transaction in 2019?
We are quite pleased to share that Maltz Auctions has carved out a niche for itself by remaining the only auction marketing firm to successfully sell NYC taxi medallions- both in bulk and individually. We have sold over 200 within the past two years.