2022 Year in Review: Alan Stenson, Brax Realty

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022?

In the past year, I have become a hyper-specialist in the challenging, demanding market of multi-family and mixed-use, rent- stabilized buildings. The real estate world is still grappling with the adverse aftermath of the 2019 change in rent laws for building owners. Having closed on over $55 million in majority rent stabilized buildings in 2022, I have accomplished a proven track record in bringing to the finish line dynamic, multi-layered transactions meeting the demands of the changing market for both seller and buyer.

What emerging trends will drive investment and development in 2023?

The emerging trend of 2023 will be motivated owners needing to expeditiously refinance or sell with the continued change in interest rates and market volatility. We will to continue building strong relationships and transacting with some of the newer syndicated and international funds. For these clients, purchasing in New York City will always be a priority. As we know, it’s the center of the world and people want and need to be here.