Shown (from left) are: Marie Zere, president & CEO, Zere Real Estate Services; Kevin O’Conner, president & CEO BNB Bank; Michelle Marie Zere, exective vice president, Zere Real Estate Services; and Maureen Hines, vice president & branch manager BNB Bank.
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,