NYC s 10 Largest Outer-Borough Loans in March 2021 therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
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Clockwise from left: Richard LeFrak, Related chairman Stephen Ross, A&E’s Douglas Eisenberg, Cammeby’s International Group founder Rubin Schron and Blackstone president Jonathan Gray (Getty, iStock)
While 2020 was a turbulent year for New York City, things have largely stayed the same for the city’s biggest rental landlords.
Policy changes in 2019 left New York’s multifamily players reeling, but the rental apartment sector experienced remarkably little distress compared to other sectors, like office or retail something that industry experts had predicted at the start of the pandemic.
“Read my lips: You are not going to see distress in multifamily,” Lightstone Group CEO David Lichtenstein said during a virtual panel in April.
17 December 2020, 10:32 am EST By
The COVID-19 pandemic has truly disrupted the real estate segment perhaps more than any other market. But this could prove to be a silver lining for New York City-based startup Metechi, a provider of a debt trading platform that facilitates the buying, selling, origination, and syndication of commercial loans at scale.
How Bad Was The CRE Market?
The U.S. commercial real estate (CRE) market benefited from a decade s worth of low interest rates and a booming economy. Property owners in major cities across the U.S. mostly feel they can dictate whatever rent price they wish to charge and there will be no shortage of customers willing to pay.