Shown (from left) are: Sunder Jambunathan, Certes Partners; Clare Newman, Brooklyn Navy Yard Development Corp.; Eric Brody, Wonder Works Construction; moderator Robert Gilman, Anchin, Block & Anchin LLP; and Phil Watkins, Megalith Capital Management, LLCNew York, NY Looking into the future, Wonder Works Construction’s Eric Brody proffered insight and optimism on the “Crystal Ball 2016: Where Do We Go From Here” panel with fellow seers Sunder Jambunathan, Certes Partners; Clare Newman, Brooklyn Navy Yard Development Corporation; moderator Robert Gilman, Anchin, Block & Anchin LLP; and Phil Watkins, Megalith Capital Management, LLC who collectively contemplated the future of New York development, the impact of a global economy on construction funding and more forecasts at the Anchin Design & Construction Forum at 7 World Trade Center.
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,