Q4 has been monopolized with talks about inflation – the CPI has increased 6.2% over the last 12 months – and how the infrastructure bill will further fuel upward pressure in prices; both for goods and assets. From where we are sitting we have seen continued growth in rental rates and a tightening of vacancy […]
In our role as an advisor we believe one of our responsibilities is to create a market for our clients projects and structure the most accretive solution.
As we enter Q4 we are seeing an uptick in new project financing requests, however, lenders and investors are focused on closing out their existing pipeline with an eye to originate new transactions in 2022. On a positive note, pricing has pulled in by 25-75 bps while leverage has increased by 5-10% making it more […]
As new development in New York remains subdued it’s worth noting that in the Census’ quarterly residential vacancy survey, the Northeast saw a substantial improvement compared to Q1 of this year (6.8% to 5.6%); slightly higher that the 2019 average of 5.2%.
As vaccination rates in the US continue to increase – however, still below the White House’s goal of administering at least one dose of the vaccine to 70% of the population – and talks about inflation and the increase in commodity prices giving pause to a lot of the participants in our field, we’ve noticed […]
In this issue of SCP’s US Real Estate Economic Indicators we welcome Eric Brody, Principal of Wonder Works Construction Corporation a construction and development company with an emphasis on building and investing in New York multifamily properties.
The month of March marked a sharp decrease in Temporary Certificate of Occupancy (TCO), New Building (NB) and Alteration (A1) applications filed with New York’s Department of Buildings (DOB). It remains to be seen if this trend continues especially since we are noticing a thaw in construction financing and a slight stabilization, if not increase […]
As most economic indicators continue to improve, coupled with the $1.9Tr. stimulus plan, the US 10 year Treasury Note broke the 1.70% mark – a level seen January of last year.
A slight improvement in most indicators such as: construction spending, unemployment, consumer spending, vacancy rates in housing, and low interest rates is giving lenders and investors some reason to be optimistic.
2021 is finally here and although everyone is ready to move on to a post-COVID world, headwinds abound. The vaccine rollout has been slower than most would like and unemployment figures still don’t paint the prettiest of pictures, even though there has been a substantial improvement compared to the beginning of the pandemic. However, expectations […]