Yonkers, NY Former Housing and Urban Development secretary Henry Cisneros and Manhattan borough president Gale Brewer visited the offices of Municipal Housing Authority Yonkers (MHACY) October 4th for a video that is being produced for a national housing award being presented to MHACY executive director Joseph Shuldiner in December. Shuldiner served as an assistant HUD Secretary under Cisneros during the Clinton Administration.
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,