New York, NY Over 250 New York City real estate professionals joined Ariel Property Advisors at its bi-annual Coffee & Cap Rates event in Midtown on July 27. The networking breakfast was exclusively sponsored by Citrin Cooperman, an accounting, tax, and consulting firm, and featured a panel of some of NYC’s most influential real estate executives to discuss the event’s theme: 2017 NYC Development Market Outlook.
Shimon Shkury, president of Ariel Property Advisors, kicked off the event on Park Ave. at Club 101 with a presentation on New York City investment property sales in the first half of 2017, referencing the firm’s newly released mid-year research reports. He also talked about the current state of the market and provided his outlook for each sub-market.
Shkury moderated a spirited and often insightful panel discussion about the development market, with questions focused on recent trends, the Affordable New York tax incentive, investment opportunities, and the overall state of the investment sales market.
Panelists Dvir Cohen-Hoshen, Co-founder and Managing Member of Adam America Real Estate, and Ari Shalam, Founder and Managing Partner of RWN Real Estate Partners, shed light on the neighborhoods and properties they currently favor and those they are avoiding.
Matthew Baron, president of Simon Baron Development, and Jacob Sacks, Principal of Cayuga Capital Management, provided insight on their firm’s decision-making process for recent projects they have undergone. They also conversed about the current financing and business environment, obstacles the market faces, and areas they view as having the most upside potential, particularly in Brooklyn and Queens.
All ticket proceeds from the event were directly donated to the nonprofit Legal Outreach. At the event, James O’Neal, executive director of legal outreach, shared the goals and objectives of his organization, which helps young people from underserved New York City communities gain admission to the country’s most competitive colleges and universities.
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