Queens, NY The Long Island City (LIC) Business Improvement District’s (BID) Annual Meeting was held the evening of October 11 at MoMA PS1.
This BID honored NYC council majority leader Jimmy Van Bramer; BID-expansion steering-committee co-chairs Gianna Cerbone-Teoli, Dr. Angelo Ippolito and Paula Kirby; and NYC Department of Parks and Recreation Queens borough commissioner Dorothy Lewandowski for their efforts on behalf of the community. NYC comptroller Scott Stringer, who presented a commendation to the BID.
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,