Research & Insights

2020 Market Update & 2021 Predictions

2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.

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Quarterly Reports

2020 Market Update & 2021 Predictions

2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.

Block by Block: 1H20

After a challenging year in 2019, 2020 started off in positive fashion with the first quarter showing promising returns in both dollar volume and transactions. The market finally began to show signs of life following the rent regulation changes in June 2019 as dollar volume and transactions appeared to be trending back towards long-term averages.

Block by Block: 4Q19

2019 was a tumultuous year for the New York City investment sales market. There was Amazon’s derailed plan for its HQ2 in Long Island City, along with sweeping rent reform legislation from the state government.

Even with external factors potentially wreaking havoc, the investment sales market finished 2019 with a total dollar consideration of just under $34B — a decline of 7% from 2018 but a slight increase (+2%) from two years ago.

Block by Block: 3Q19

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.

Block by Block: 1H19

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.

Block by Block: 1Q19

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.

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Insights

2020 Market Update & 2021 Predictions

2020 will be remembered as the year New York City commercial real estate weathered a storm like no other. Before COVID-19 impacted our daily lives, 2020 was expected to be a challenging year for commercial real estate due in part to rent regulation law changes in 2019, tax increases, and what promised to be a turbulent election cycle.

B6’s 2020 Predictions Report

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.

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Recent News

2021 Best Places To Work

GlobeSt
April 5, 2021

Best described by its one-word brand promise of “collaboration,” B6 Real Estate Advisors values transparent communication and operations as an investment sales and capital advisory firm.

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10 Powerful Women Share Lessons Learned as Female Leaders from the COVID Crisis

Lux Expose
February 26, 2021

As Partner, Managing Director of Marketing & Communications, Dion is responsible for the planning, development & implementation of the firm’s branding strategy & PR initiatives. 

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B6 Real Estate Advisors making big move into N.J.

ROI NJ
February 23, 2021

The firm announced Monday it is increasing its presence in the state, as Peter Cabrera, director of capital advisory, is being added to the New Jersey team.

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Rainmakers In Debt & Equity

GlobeSt
February 9, 2021

B6′s capital advisory division holds extensive expertise in sourcing debt, mezzanine and equity financings.

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Queens multifamily portfolio hits market for $99M

The Real Deal
February 8, 2021

The 382,000-square-foot, 383-unit complex also includes 116 parking spaces, along with 28,000 square feet of additional development rights.

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With no more units allowed in New Rochelle’s downtown plan, this site is going for millions

lohud
February 4, 2021

B6 Real Estate Advisors, an investment sales and capital advisory brokerage, is handling the sale of the 525 Main St. site.

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Multifamily properties traded hands most frequently last year

Crain's New York
January 29, 2021

A weak rental market last year did not stop multifamily buildings from being the most commonly traded type of property, according to a new report from Paul Massey’s B6 Real Estate Advisors.

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Recent Commercial Real Estate Transactions

The New York Times
January 19, 2021

26-34 Sherman Avenue: Built in 1928, this 10,000 SF building in the Fort George neighborhood has been owned by the same family since 1976. The single-story building was last used as a medical facility by New York State.

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Veteran broker Brock Emmetsberger joins B6

The Real Deal
January 12, 2021

Emmetsberger is a veteran of Massey’s previous firm. The B6 CEO cited his close ties with the broker and his track record — particularly in the Chelsea and Greenwich Village markets — as reasons for bringing him on board.

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Tom Gammino joins Paul Massey’s B6

The Real Deal
December 1, 2020

Investment sales veteran Tom Gammino is reuniting with Paul Massey at his B6 Real Estate Advisors brokerage.

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Queens Development Site Goes on Market for $50M

GlobeSt
November 25, 2020

The Forest Hills Jewish Center has put a development site in Forest Hills, Queens on the market. The lot is over 36,000 square feet and has a four-story, 68,000 SF religious/educational facility.

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Brooklyn developers bringing 120 luxury rentals to Bushwick

Crain's New York
November 17, 2020

Brooklyn developers the Horizon Group and Michael Wittow have picked up six vacant Bushwick lots for $14 million with plans for an 82,000 square foot residential development.

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