Shown (from left) are: Joel Breitkopf of Alchemy Properties; Phyllis Weisberg of Montgomery McCracken Walker & Rhoads; Jeff Mitzner of First American Title Insurance; Lydia Sklar of Sklar Realty Group; Peg Breen; Harry Zlokower of Zlokower Company Public Relations; Greg Kraut of Avison Young; Robert Shapiro of Newmark Grubb Knight Frank; and Gerald Morganstern of Goetz Fitzpatrick.New York, NY Peg Breen, president of New York Landmarks Conservancy, addressed the B’nai B’rith Real Estate luncheon, September 13, at The Cornell Club. Her topic was “Preserving Our City at a Time of Rapid Development.”
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,