New York, NY On October 9th, The Young Mens/Womens Real Estate Association (YM/WREA) hosted their October Luncheon. The guest speaker was Richard Baker, governor and executive chairman of Hudson’s Bay Company (Lord & Taylor, Saks Fifth Ave., National Realty & Development Corp.).
He discussed his career path, his views on the retail industry and what sets his firm apart. Additionally, he discussed the sale of the Lord & Taylor building on Fifth Ave. to WeWork.
YM/WREA welcomed its newest members of the organization at the luncheon.
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,