2023 Year in Review: Jed Resnick, Douglaston Development

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? Closing the acquisition of—and construction financing for—our $320 million project at 1057 Atlantic Ave., was a rare bright spot given current economic conditions. Upon completion, the project will deliver 456 mixed-income residences, 31,000 s/f of retail space and 35,000 s/f of amenity space to Brooklyn’s Bedford-Stuyvesant neighborhood.

What emerging trends will drive investment and development in 2024? Multifamily fundamentals in New York are as strong as ever and offer significant advantages over most other investable property types. The Fed and interest rates will have a significant impact on investor appetite, but housing and tax policy will be the biggest driver of multifamily development in 2024.