Earl Altman and Mrs. Altman of ABS
New York, NY On May 8th, the Young Mens/Women’s Real Estate Association (YMWREA) held their monthly luncheon, featuring Larry Silverstein, chairman of Silverstein Properties, Inc. They hosted a “fire-side chat,” moderated by Jimmy Kuhn, Newmark Knight Frank (NKF). Silverstein discussed his legendary career, from his first deal, to the saga of originally building, financing and leasing 7 World Trade Center, his decision to move downtown, as well as his advice for newcomers to the industry.
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,