New York, NY Joshua Stein, the sole principal of Joshua Stein PLLC, and Richard Fries, a senior real estate partner at Sidley Austin LLP, address questioners at a lunch program on loan workouts in the commercial real estate market, hosted by the Mortgage Bankers Association (MBA) of New York at the Cornell Club. Stein is also a member of the MBA-NY board.
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,