Deconstruct - Episodes Tagged with “New York City”

BGO's Chief Economist on The Fed's Next Move

The Real Deal — Mon, 24 Jun 2024 05:00:00 -0400

Don't expect interest rates to drop back to zero. But your floating-rate loan may be a bit less painful by year's end. The Real Deal's Deconstruct chatted with BGO's Chief Economist Ryan Severino about when rate cuts will come, the data that shows a cooling economy and what risks the Federal Reserve runs if it cuts too little, too late.

Opportunity, Opportunity, Opportunity: Goldman Sachs' Alternative Capital Lead on Real Estate Lending

The Real Deal — Mon, 03 Jun 2024 05:00:00 -0400

Last month, Goldman Sachs announced it closed a new real estate credit fund, capable of handing out more than $7 billion. And with regional banks and other financial institutions reeling back their exposure to commercial real estate, Goldman Sachs sees this as the perfect time to get in on the action. Deconstruct chatted with Goldman Sachs' co-head of alternative capital formation, Jeff Fine, what asset classes it's excited about and the opportunity for private credit in real estate.

Dealing with Syndications 101 with LP Adviser Aleksey Chernobelskiy

The Real Deal — Tue, 28 May 2024 05:00:00 -0400

Aleksey Chernobelskiy has many pieces of advice for retail investors writing checks for syndicated real estate deals. But, one of the most important: you could lose it all. As many syndicators — firms that pool equity to buy property — grapple with distress, thanks to rising interes rates, investors have been stuck in the crosshairs trying to determine whether to pump more money into a struggling deal, or walk away.

Deconstruct chatted with Chernobelskiy about syndicator best practices, what retail investors should know about real estate investing, feeder funds tapping wealth for these deals and what LPs can do if everything goes wrong.

Looking at the Legislation Critical to Making Office-to-Residential Conversions Work

The Real Deal — Mon, 29 Apr 2024 05:00:00 -0400

It's not just tax credits. It's not just zoning by right. To make office-to-residential conversion projects work, developers need all of the above, says Bobby Fijan of Philadelphia-based Form Developers. TRD's Deconstruct chatted with Fijan about some of the legislation, policies, subsidies and programs across the country that have helped push these conversions forward.

New York Finally Gets a Housing Deal

The Real Deal — Mon, 22 Apr 2024 05:00:00 -0400

Note: This episode was recorded before the state finalized a housing deal. For a detailed break down of what passed check out Senior Reporter Kathryn Brenzel's story here:

After years of negotiations, Albany has finally fleshed out the framework for a housing deal. Tenants call it a give away to developers. Landlords have their own gripes with an intended boon for rent-stabilized owners. Deconstruct sits down with The Real Deal's Kathryn Brenzel to talk Gov. Kathy Hochul’s “parameters of a conceptual agreement.”

Gil Dezer on Luxury Development, Financing and the South Florida Boom (Plus His Love For Cars)

The Real Deal — Mon, 04 Mar 2024 05:00:00 -0500

Gil Dezer knows how to build branded condos. From the Porsche Design Tower to the Armani Residences in South Florida, Dezer is now focused on building the Bentley Residences. Despite growing up in New York City, Dezer is now Miami through and through and remains bullish about the city and South Florida in general — and believes people will keep shelling out big bucks to live there.

Deconstruct chatted with Dezer about pre-sales at the Bentley Residences, how he's thinking about a construction loan and why he still thinks he has the best land in the country. (Plus, some of the cars he's recently added to his collection).

The Short-Seller And The REIT: Inside Arbor Realty Trust's CLOs

The Real Deal — Mon, 19 Feb 2024 05:00:00 -0500

For the last six months, Arbor Realty Trust has been the target of a prominent short seller, Viceroy Research, which claims that a huge chunk of its collateralized loan obligation, or CLO, portfolio is in trouble. Arbor, though it denies the short seller's numbers, said it is experiencing challenges and delinquencies are set to rise. And the company is not afraid to go after non-performing borrowers.

Deconstruct sat down with Gabriel Bernarde, one of the individuals behind Viceroy, to chat about the reports, and then dug into Arbor's fourth-quarter earnings.

Unpacking The CRE CLO

The Real Deal — Mon, 12 Feb 2024 05:00:00 -0500

After the 2008 financial crisis, investment managers came up with a new securitized product: the collateralized loan obligation, or CLO, for commercial real estate. It was designed to correct some of the risks that came with its predecessor, the collateralized debt obligation.

But what exactly is the CRE CLO and how does it work? Deconstruct enlisted attorney and CLO expert Stewart McQueen at Dechert to break down the product.

Deconstruct Live at TRD's Miami Forum: Using AI to Hack Zoning

The Real Deal — Mon, 08 Jan 2024 05:00:00 -0500

Imagine a scenario where you, a developer, could pick a site on a map and discover exactly what you could build there. No more hiring experts, contacting the city, finding ways to match zoning requirements. Deepblocks, run by Olivia Ramos, is trying to do exactly that and more, using artificial intelligence. Deconstruct sat down with Ramos at The Real Deal's annual Miami Forum last November to chat about the firm, concerns around AI and how its applications are spreading across the real estate industry.

Deconstruct Live at The Real Deal's Miami Forum: Meet Kaizen AI

The Real Deal — Mon, 18 Dec 2023 05:00:00 -0500

In early November, the Deconstruct team flew to Miami for The Real Deal's annual showcase and forum. We're bringing you an interview we did live with the founders of Kaizen AI, Jay Shah and Anuj Shah. Kaizen uses artificial intelligence to analyze building designs, then retrofits them to be the most profitable project for any given space, taking developer wants into account.

Wind in the Doldrums? A Look Ahead At NYC Investment Sales

The Real Deal — Mon, 11 Dec 2023 05:00:00 -0500

You know the story: interest rates rose and deal flow slowed. After a year and half of sluggish trading, what's next for NYC's investment sales market? Avison Young's Head of Tri-State Investment Sales James Nelson lays out the market dynamics set to drive office and multifamily deals. Ariel Property Advisors' Founder Shimon Shkury gets granular on the distress affecting the rent-stabilized market.

Ivanhoé Cambridge on Separating Good Office From Bad, Opportunistic Investing and Deploying Cash

The Real Deal — Mon, 04 Dec 2023 05:00:00 -0500

"It's the case of the haves and the have nots."

Real estate investment firm Ivanhoé Cambridge is facing the same issues as every other investment firm: how do you correctly manage an office portfolio right now? For the firm's head of office and life sciences investments, Jonathan Pearce, it's all about separating assets into buckets: the good ones worth throwing new cash on, and the ones underperforming. Deconstruct chatted with Pearce about how he’s thinking about investing in office right now, opportunities for preferred and mezzanine financing and how it helps to have the support of a hundred-billion-dollar-plus parent company.

Deconstruct Live at The Real Deal's Miami Forum: Inside Miami's Resi Market

The Real Deal — Mon, 20 Nov 2023 05:00:00 -0500

In early November, the Deconstruct team flew to Miami for The Real Deal's annual showcase and forum. We're bringing you two interviews we recorded on site at the event. First, you'll hear from Miami star broker Dora Puig about the state of the residential market. After that, Edgardo Defortuna and Ana Christina Defortuna at Fortune International Group talk about the hotel-branded residence market, new development in South Florida and why there are so many New York restaurants in Miami.

Meet Maya: Fredrik Eklund Takes on AI

The Real Deal — Mon, 06 Nov 2023 05:00:00 -0500

Fredrik Eklund is now actually on 24/7. The "Million Dollar Listing" star broker and his partner John Gomes have launched a new AI tool called Maya, which allows buyers and agents to dig through listings and ask the bot general real estate questions. The Real Deal's Deconstruct sat down with Eklund to chat about his new AI venture and took Maya for a test drive.

The Distress Roiling the CMBS Markets

The Real Deal — Mon, 23 Oct 2023 05:00:00 -0400

"A slow-moving train wreck." That's what Daniel McNamara, the founder of Polpo Capital, calls the upcoming wall of maturities — the massive amount of commercial mortgage-backed securities coming due in the next year or two. Many, especially those who used floating-rate debt are facing a triple threat: the triple whammy of higher interest rates, lower valuations and more conservative lending. All of that is making it difficult for commercial landlords to refinance and leaving CMBS investors at risk.

Filling the Gap: The Private Players Turning to Real Estate

The Real Deal — Mon, 02 Oct 2023 05:00:00 -0400

As the market for traditional lending, through regional banks or commercial mortgage-backed securities, has dried up, more private credit lenders and financiers have hopped into the real estate space. And Arkhouse, a private equity firm focused on deals to privatize public real estate investment trusts, sees opportunity in that.

The Real Deal's Deconstruct chats with Arkhouse managing partners Gavriel Kahane and Jon Blackwell about why they think the public markets undervalue real estate and why this boom in private credit is good for their business.

Why Related Companies Is Still Building Office

The Real Deal — Mon, 18 Sep 2023 05:00:00 -0400

Related Companies is building offices in Chicago, Austin and West Palm Beach. That's right — offices. At a time when so many firms are pausing office development, citing a lack of tenant demand and the shift towards remote work, Related is plowing ahead with developments. The Real Deal's Deconstruct chatted with Related's head of office development, Philippe Visser, about why the firm is still building new office stock, despite market headwinds.

CrowdStreet, Nightingale and a Crowdfunding Disaster

The Real Deal — Mon, 11 Sep 2023 05:00:00 -0400

In June, a group of investors who invested in a Nightingale Properties-sponsored deal on crowdfunding platform CrowdStreet found out their money was missing. The Real Deal's podcast Deconstruct looks at what happened, the risks with crowdfunding and FundRebel, a new platform that is trying to differentiate itself.

Guests:
Ian Ippolito, founder of Private Investor Club and the Real Estate Crowdfunding Review
Mark Drachman, FundRebel CEO

Credits:
CrowdStreet, WFAA

Inside Larry Silverstein's New Lease on Life

The Real Deal — Tue, 05 Sep 2023 05:00:00 -0400

At 92 years old, Larry Silverstein is shaking things up. The founder of Silverstein Properties is spearheading a mammoth office-to-residential conversion. He's thrown his hat in the ring for the city casino bid. And he's in with a new crowd: the young folks of Lower Manhattan.

RXR Realty CEO Scott Rechler Talks Distress, Slowdowns and Opportunity

The Real Deal — Mon, 26 Jun 2023 05:00:00 -0400

RXR Realty CEO Scott Rechler's year has centered on "Project Kodak" — a strategy of separating older, obsolete office buildings from a younger product that can still pull the tenants and rents to thrive. TRD's Deconstruct sat down with Rechler to unpack how that strategy has evolved, why he's pegged multifamily as the next shoe to drop and whether the Fed's recent rate pause will lift the gates on investment sales.

Credits: CBS New York

Why Palm Beach is Seeing Record Mansion Pricing

The Real Deal — Mon, 12 Jun 2023 05:00:00 -0400

Real estate is a sport in Palm Beach. And billionaires are still making moves, despite an overall slowdown in home buying across the country. The luxury market in the South Florida town has been propelled by "inter-island moves" — wealthy homebuyers hopping from one mansion to the next. Deconstruct chats with TRD senior reporter Katherine Kallergis about why Palm Beach is continuing to see record deals trade and the most expensive listing currently on the market in the area.

Reinventing the American Mall With Bill Shopoff

The Real Deal — Mon, 15 May 2023 05:00:00 -0400

For many, the U.S. mall is an institution. But for others, as more brick-and-mortar stores face trouble, malls are an opportunity. More and more developers are looking at malls to redevelop them into apartment complexes, with restaurant and retail components. The Real Deal’s podcast Deconstruct chatted with Bill Shopoff of Shopoff Realty Investments, which is leading some of these conversions in California.

Credits: CBS New York

Inside First Republic’s Woes

The Real Deal — Mon, 01 May 2023 05:00:00 -0400

In the wake of the collapse of Silicon Valley Bank and Signature Bank, First Republic, a prominent mortgage lender in San Francisco, lost billions in deposits. But what does that mean for lending and can the bank survive? The Real Deal's Isabella Farr looks at First Republic Bank's financial health and how some of its long-term mortgages are posing issues for the bank's balance sheet. Plus, Deconstruct chats about the New York state budget and New York Community Bank’s earnings.

Disclaimer: This story was recorded before the FDIC seized First Republic Bank and sold it to JPMorgan on Monday morning.

Credits: Yahoo! Finance, ABC News

Who Flakes On The Flatiron Building?

The Real Deal — Mon, 17 Apr 2023 05:00:00 -0400

When Jacob Garlick, a relative unknown in the small world of New York real estate, secured the winning bid on the Flatiron building, he told NY1 the moment had been a “lifelong dream since he was 14 years old.” Two days later he flaked on the down payment. The Real Deal's Deconstruct chats with senior reporter Keith Larsen on the man behind the botched buy and why Garlick is still gunning for the building.

Credits: NY1

An ‘Existential Weekend’: How Two Bank Collapses Roiled Real Estate

The Real Deal — Mon, 20 Mar 2023 05:00:00 -0400

Let's talk about last week. The Real Deal’s Deconstruct explains the catalysts behind the collapse of Silicon Valley Bank and Signature Bank last week and the lasting impact on regional banks, real estate lending and the Fed’s next steps.

Credits: CNBC, ABC News, NBC News, CBS, CNN, Forbes

Inside Downtown LA’s Pain Points

The Real Deal — Mon, 13 Mar 2023 05:00:00 -0400

Brookfield has defaulted on $784 million worth of loans connected to office towers in Los Angeles. Starwood foreclosed on the completely vacant Broadway Trade Center. A deal to sell a 40-story tower has been delayed for the 10th time. So what is going on with Downtown L.A.‘s office market? Deconstruct chats with Michael Soto, a research director at Savills, about the pain we’re seeing across the city’s center and how we ended up here.

Credits: CNBC

The Hotel Market's Uphill Battle

The Real Deal — Mon, 23 Jan 2023 05:00:00 -0500

Times Square hotels are headed to bankruptcy. Investors are clawing at distressed properties in Chicago. High interest rates are making it harder for investors to transact. And in California, more supply is coming offline, as developers look to hotels for adaptive reuse projects. Deconstruct chats with Atlas Hospitality Group president Alan Reay about the looming distress across the hotel industry, but where investors are finding pockets of hope.

Commercial Brokerages Feel The Pain

The Real Deal — Mon, 05 Dec 2022 05:00:00 -0500

After low interest rates propelled investment sales to a record-breaking year in 2021, commercial brokerages including CBRE, Newmark and JLL, are now feeling the brunt of the impact. They're pushing to cut costs, some have laid off employees, but all agree the macroeconomic environment has made it hard to do business. Deconstruct chats with TRD reporter Patrick Ralph about the reasons behind the brokerages’ pain and whether the firms will see relief in the future.

To Lend or Not To Lend?

The Real Deal — Mon, 21 Nov 2022 05:00:00 -0500

With rising interest rates, major institutions have cut back on lending. Issuances of commercial mortgage-backed securities dropped 35 percent in the third quarter, compared to the second. Deconstruct chats with Madison Realty Capital's Josh Zegen about what opportunities are still out there — coming from distress, loans on loans and creative refinancings.

Credit: NBCLA

Compass Points to Its Future

The Real Deal — Mon, 14 Nov 2022 05:00:00 -0500

Compass CEO Robert Reffkin had a busy Nov. 10. Hours after speaking at a TRD forum in Miami, Reffkin got on a conference call with analysts to discuss the company's much anticipated earnings results for the third quarter. Compass lost $157 million from July through September — more than it lost in the second quarter. Deconstruct looks at the state of the brokerage, why it's struggling and where it goes from here.

Guests: TRD reporter Harrison Connery, TRD deputy web editor and South Florida reporter Katherine Kallergis.

Will Single-Family Rentals Survive Inflation?

The Real Deal — Mon, 24 Oct 2022 05:00:00 -0400

Investors have flocked to purchase single-family homes across the U.S., as technology has made the asset class scaleable. But, how will the sector fare with inflation, increasing interest rates and a potential recession on the horizon?

Deconstruct chats with Doug Brien, the CEO of single-family rental management and investment firm Mynd about why he's still bullish on the asset class.

Can WeWork Make a WeSurgence?

The Real Deal — Mon, 17 Oct 2022 07:00:00 -0400

Ahead of its third quarter earnings, TRD's Deconstruct chats with senior reporter Keith Larsen about where WeWork stands and how it’s going about cutting costs under CEO Sandeep Mathrani. The company faces a difficult road in its effort to bounce back from its disastrous 2019 IPO attempt and navigate a struggling office fundamentals at the same time.

This Key Construction Material is Now An Endangered Species

The Real Deal — Mon, 03 Oct 2022 07:00:00 -0400

It’s real estate trivia this week. A workhorse of the construction industry is now a disappearing resource. The catch: Few recognize the material is quickly slipping through our hands. TRD’s Deconstruct chats with reporter Kathryn Brenzel about the root of the crisis and how the industry can best adapt.

Real Estate Navigates Legalized Cannabis

The Real Deal — Mon, 19 Sep 2022 07:00:00 -0400

Cannabis might be legal in New York, but no legal dispensaries are out there yet. State lawmakers have budgeted $200 million to build out 150 dispensaries by 2024, but the first licenses are yet to be given out. So how are landlords navigating all of this to bring in dispensaries as tenants? Deconstruct chats with TRD's Cailley LaPara about the issues both landlords and tenants are facing as the state looks to open its first cannabis stores.

The New Asset Class of Soundstages

The Real Deal — Mon, 12 Sep 2022 07:00:00 -0400

Earlier this year, New York City's Department of Buildings approved Wildflower Studios: a $600 million, vertical soundstage project in Queens. Wildflower Ltd, run by Adam Gordon, is behind the project, with the help of Robert de Niro. TRD's Deconstruct chats with Gordon about his first foray into studio real estate, which has become a popular asset class among investors.

The State of The Luxe Market with Bess Freedman

The Real Deal — Mon, 29 Aug 2022 07:00:00 -0400

After an insane year for high-end real estate in New York City, things have finally begun to slow. Kicking off a second season, The Real Deal's Deconstruct looks at the state of the luxury market in New York City with Brown Harris Stevens CEO Bess Freedman, who discusses the factors behind this shift and how her firm will adapt.

Coming Soon: Deconstruct Season 2

The Real Deal — Mon, 22 Aug 2022 07:00:00 -0400

We're back! The Real Deal’s hit podcast “Deconstruct” is back on Aug. 29 for a second season of breaking down the most important concepts and trends in real estate, with bigger guests and bolder ideas.

Hosts Isabella Farr and Suzannah Cavanaugh will kick off the second season of “Deconstruct” by interviewing Bess Freedman, CEO of Brown Harris Stevens, who will dig into the latest in New York City’s luxury market.

Is Multifamily Set to Cool Down?

The Real Deal — Mon, 27 Jun 2022 07:00:00 -0400

Multifamily was the most popular asset class for commercial real estate investors in the first quarter. This popularity was fueled by extraordinary rent growth and historically low interest rates. Investors could get relatively cheap capital to buy up apartment complexes with steady cash flow. But interest rates are no longer historically low. So will the market start to cool?

You'll hear from Matt Fotis, a senior managing director at Marcus & Millichap in New York City.

The Hamptons Dream

The Real Deal — Mon, 30 May 2022 08:00:00 -0400

Chances are, some of you New Yorkers listening might be spending this Memorial Day weekend in the Hamptons. Some of you might have even bought a house in the last couple of years, some of you might have been lucky to snag a beachside rental property. On this episode, Deconstruct looks at the housing market in the Hamptons and how the dream of lounging on the beach is unattainable for many. You'll hear from Cody Vichinsky, the co-founder and principal of Bespoke Real Estate, and Jeremy Samuelson, the director of planning for East Hampton.

Credits: Music by Blue Wave Theory, "Rabbit Ears"

Are Hotels Back?

The Real Deal — Mon, 23 May 2022 07:00:00 -0400

Last weekend, more than 4.3 million people flew across the U.S. — about 1 million more people than the same days last year. But has this pickup in travel trickled down to hotels? Deconstruct looks at how hotels in some markets have completely bounced back from the effects of the pandemic — and others haven't. You'll hear from Kevin Davis, the CEO of JLL’s hotels and hospitality division for the Americas.

Credit: CNBC, U.S. Transportation Security Administration

The Mystery Behind Traded

The Real Deal — Mon, 09 May 2022 07:00:00 -0400

Traded has emerged as a very popular site for brokers, developers and industry professionals to see what has recently, for lack of a better word, traded, and as a way to advertise their own deals. But, who is behind the mysterious account?

For this month’s issue of The Real Deal, Joe Lovinger, a reporter at The Real Deal, set on a mission to find out. Deconstruct chats with Joe about Traded and how he did a lot of digging to find out who was behind this account.

Navigating New York's Rent-pocalypse

The Real Deal — Mon, 18 Apr 2022 07:00:00 -0400

If you’re a New York renter, chances are if you haven’t been hit with a rent hike yet, you’re bracing for one. But those colossal jumps don't necessarily mean the market has hit it’s peak. TRD's Deconstruct looks at how rents in New York have come soaring back and how experts think more rent rises are to come.

You'll hear from Jonathan Miller, the CEO of appraisal firm Miller Samuel, David Kazemi of Bond New York, Devin Someck, the co-founder of Living New York and Stan Broekhoven of Keller Williams.

Behind the Scenes of Zillow Gone Wild

The Real Deal — Mon, 11 Apr 2022 07:00:00 -0400

In the market for a mansion in Connecticut with a potato shed? How about a Friends-themed two-bedroom home? On social media page Zillow Gone Wild, Samir Mezrahi posts the craziest, wackiest and most outlandish homes found on Zillow. TRD's Deconstruct chats with Mezrahi about how the page has grown over the last two years and some of the wildest homes he's seen.

Credits: NBC's "Saturday Night Live," Zillow sketch from Feb. 2021.

Short-Term Rentals Are Here to Stay

The Real Deal — Mon, 04 Apr 2022 07:00:00 -0400

Demand for short-term rentals has soared during the pandemic. Companies like June Homes, Blueground and Landing carved out their own niches in the Airbnb-dominated market as renters looked for flexible living during work-from-home periods. Deconstruct's Suzannah Cavanaugh looks at whether these growing rental firms will see continued demand, as companies finalize plans for employees to return to the office.

You'll hear from Jamie Lane, vice president of research at AirDNA, and Daniel Mishin, the founder and CEO of June Homes.

The New Kings of New York's Adam Piore

The Real Deal — Mon, 21 Mar 2022 07:00:00 -0400

At the turn of the 21st century, something in New York City shifted. The city’s real estate started to change and suddenly, you had billion-dollar developments and $200 million penthouse sales.

In TRD's new book, The New Kings of New York, Adam Piore tracks the biggest players behind New York City's ascent to becoming a global hub for luxury real estate and development — from Kent Swig to Harry Macklowe to Stephen Ross. Deconstruct sat down with Piore to chat about the book.

The New Kings of New York is available for pre-order on Amazon now.

The San Francisco Split

The Real Deal — Mon, 07 Feb 2022 10:00:00 -0500

San Francisco has had nearly two years to recoup the residents it lost when Covid hit. Like other coastal metros, the housing market has recovered by leaps and bounds. The rental market tells another story. Reporter Suzannah Cavanaugh discusses the trends driving the city’s uneven recovery.

You'll hear from Patrick Carlisle, chief market analyst for the Bay Area at Compass, Sylvia Sotomayor, a realtor with MSI Real Estate Services in San Francisco, and Matthew Niksa, a Bay Area reporter for The Real Deal.

Attribution: Vertigo — Alfred Hitchcock, Green Gables opening sequence, NBC Bay Area “SF Neighborhood Tired of Rising Crime Bands Together to Hire its Own Security Force."

The Death of Luxury Comps

The Real Deal — Mon, 31 Jan 2022 08:15:00 -0500

The family office managing the money of Alibaba execs Joe Tsai and Jack Ma recently purchased a condo at 220 Central Park South for around $190 million — a condo that last sold for $93 million. This extraordinary, almost 100 percent return shows how its becoming difficult to use comps as a way to compare luxury home sales across certain markets in the U.S.

You'll hear from Hiten Samtani, The Real Deal's associate publisher, and Jonathan Miller, who runs an appraisal firm called Miller Samuel.

The Battle to Save or Shut Down New York City Street Vendors

The Real Deal — Mon, 18 Oct 2021 07:00:00 -0400

Street vendors, including hot dog carts and art sellers, were hit hard during the pandemic. But are they starting to recover now? TRD’s Sasha Jones talks to two vendors about their businesses, along with Dan Biederman, the head of 34th Street Partnership, about how the real estate industry has clashed with vendors over the years.

You’ll also hear John Rennie Short, a professor of public policy at the University of Maryland, Baltimore County, discuss how New York City is now trying to save the profession.

Saying Goodbye to a Couple Months of Free Rent

The Real Deal — Mon, 11 Oct 2021 07:00:00 -0400

To anyone looking for an apartment in New York City, you unfortunately probably won’t be able to find a sweet deal with three months of free rent anymore. We break down what’s happening in the New York City rental market right now and what’s expected through the end of 2021. TRD speaks to Heather Moore, Greystar’s head of property management in New York, Adrian Savino, the director of leasing at Living NY, as well as Robert Schmidt, the co-founder of the Guarantors.