Manhattan, NY 50 United Nations Plaza, an 88-unit residential condominium developed by Zeckendorf Development and Global Holdings, and designed by Foster + Partners, hosted a reception on Wednesday, January 25th, to celebrate the 2017 Lunar New Year. More than 100 of New York City’s real estate professionals were in attendance to toast the new year, as they enjoyed Asian culture and cuisine. Guests also took in views of the city skyline from Penthouse 41, one of the tower’s full-floor penthouses.
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,