October 9, 2018

Young Investors Flocking to Rent-Regulated Properties in Brooklyn

Young Investors Flocking to Rent-Regulated Properties in Brooklyn

“The buyer pool in Brooklyn right now is very sophisticated and very on top of the current state of [rent regulation],” said Matthew Cosentino, a partner at Brooklyn-based TerraCRG. “They’re asking the right questions up front, they’re not waiting for a lawyer.”

“You have a lot of people who had gone to school, who previously were going into law careers or finance careers,” Cosentino, 39, said. “Because of the money that’s being generated in Brooklyn real estate, there’s been a big shift towards real estate as a very attractive profession, whereas in the past real estate was seen as something that people with these professional degrees wouldn’t get into.”

“My generation has seen some big hits in the market,” he added. “In 2000 there was the dotcom bubble, obviously 9/11 and then 2009 [with the market crash]. I think for younger people real estate has become a really attractive path.”

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