The Long Island AI Scholarships winners. Shown (from left) are: Timothy Morgenstern, Robert Malone, MAI, SRA, Louis Maldarelli, Katherine Sullivan and James Kirk.Mineola, NY One of the main objectives of the Long Island Chapter of the Appraisal Institute is to promote the development of future leaders of the industry. 2016 chapter president Kathleen Rairden, MAI, introduced the Chapter Scholarship Committee, Jim Taylor, MAI, SRA, Frank Notaro, MAI, SRA and Tonia Vailas, MAI to the audience at a recent meeting who then presented this year’s scholarship awards to five recipients. This year’s award recipients are: Timothy Morgenstern, Robert Malone, MAI, SRA, Louis Maldarelli, Katherine Sullivan and James Kirk.
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,