News:
Spotlight Content
Posted: December 22, 2020
Dan Bsharat, Hudson Hill Partners
Name: Dan Bsharat
Title: Managing Director
Company Name: Hudson Hill Partners
What was your most notable project, deal, or transaction in 2020?
At the onset of the pandemic we were approached by an owner of a portfolio of three multifamily properties in Westchester who was retired and living in Florida. He had owned the properties for over 40 years and was looking to us to bring certainty in closing despite the uncertainty of the pandemic. While we faced a challenging environment, we successfully completed the transaction as agreed. The buildings have been a great addition to our portfolio, within our target market and walking distance to several other assets we own in Tarrytown, NY.
What are your predictions for commercial real estate in 2021?
The successful rollout of several vaccines along with additional stimulus and economic aid should strongly propel the economy forward in 2021. The promise of continued low interest rates will result in downward pressure on asset pricing, specifically for Multifamily and Industrial. Within Multifamily, we will continue to see a bifurcation in the market. Rental demand for affordable and middle-income housing will remain strong. Due to oversupply and preference for space, the luxury rental market will continue to be deflated.
Tags:
Spotlight Content
MORE FROM Spotlight Content
Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin
When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
.png)
.jpg)
Columns and Thought Leadership
Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra
Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe
Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen
The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:
Formal Legislative Role
• Limited direct lawmaking power: The NYC Council is the primary
The strategy of co-op busting in commercial real estate - by Robert Khodadadian
In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
.gif)