New York, NY David Zaken has joined the JAACRES commercial real estate brokers. He will report to JAACRES president Joseph Aquino.
Zaken has owned 12 David Z shoe and sneaker stores in New York City and Las Vegas. Zaken has a terrific network of contacts in the shoe and apparel business. Zaken has also owned three commercial buildings: on Fifth Ave.; on Broadway in Union Sq.; and in Soho. Zaken knows all the ropes when it comes to operating a commercial property, including filing for permits, working with contractors, and adding value to a building.
Zaken knows real estate and retailers and understand the art of deal-making and he is going to be a tremendous asset to JAACRES’ international and New York City based clients. Aquino said, “We’re glad to have him aboard.”
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,