Shown (from left) are: Michael Lehrman, BGC Partners; Jeffrey Roseman, NGKF; and Nestor Eliadis, WalgreensManhattan, NY Newmark Grubb Knight Frank hosted the ICSC Annual Cocktail Reception held at Tao Downtown on December 5, 2016.
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,