Alvista on Baltimore - La Mesa, CA
April 09, 2014
Multi-Housing News – The Big Apple is Tasty – New York Market Report
“Keith Rosenthal, Phoenix Realty Group’s president, believes that new NYC Mayor Bill de Blasio’s plans for affordable and subsidized housing will have some impact on market-rate housing, and that’s hanging over the market in early 2014.
“No one knows what the specifics of his goals are, which are to preserve 200,000 units of affordable housing and produce another 90,000 new units,” he says. “The market absorbed some big rent increases for a couple of years, and we believe they will moderate a little bit. Things can only grow so fast until they run out of steam and need to catch their breath, and we see the market as catching its breath after a couple of years of huge increases.”…
This is an excerpt of the article, “The Big Apple is Tasty – New York Market Report” which appeared in the April 2014 edition of Multi-Housing News.