Maverick Real Estate Partners reposted this
Banks have pulled back on Rent Stabilized Multifamily more than any other property type in NYC, including Office. With the most active lenders nearly eliminating new Rent Stabilized exposure, what remains is a fragmented landscape of one-off transactions that leaves Borrowers with very few options upon maturity. Values have plummeted in part because of the lack of debt capital available in the market. Get the full story here: insights.maverickrep.com
Fantastic data everyone in NYC should read. Which lenders will be there to refinance out the current noteholders? That's the biggest question in 2024. Great job David Aviram Ted Martell Jim Yetter John Kaminsky
What are some (possible) high probability outcomes
Managing Director - Capital Markets (Debt & Structured Finance) at Marcus & Millichap Capital Corporation (MMCC)
3moThis is a fantastic analysis coming from someone who originated loans Rent Stabilized loans for 17 years, exclusively in the NYC market. I recently changed paths from working as a cre mortgage banker, to a cre mortgage BROKER , which has proven to be quite timely based on current market dislocation, with likely more challenges to come. My clients and investors recognize the need for a reliable and honest CRE Mortgage Broker with 350 sources of capital to help create a market for their deal, at the most competitive rates and terms.