Last year was a tumultuous one for the investment sales market in New York City. New rent regulation put a damper investors’ appetites after the state’s legislation passed in June. Even amid a roaring economy, 2H19 was a sluggish one.
As we head into 2020, there’s cautious optimism around the B6 offices. We surveyed our investment sales and capital advisory teams to gauge opinions on where the market is headed. Here’s what we found.
As the new reality of stricter rent regulations becomes clear, the investment sales market in New York City continues to underperform its historical trend. That’s pushed the trajectory of industrial and retail in very different directions.
The investment sales market in New York City continued its sluggish performance through the second quarter of 2019. But even in this environment, opportunity still exists in certain pockets of the city. So B6 tapped three of its brokers to find out where they see potential upside in their neighborhoods.
The investment sales market in 2019 got off to a slow start amid uncertainty in the broader economy and speculation about major rent reforms this summer. But even amid a market slowdown, development is continuing thrive.