December 3, 2018

4 Things NYC Developers, Landlords And Brokers Think You Should Know Going Into 2019

Opportunity Zones Are Already Boosting The City’s Investment Sales Market

Although investors and developers are being told there is no point doing a deal based on a possible tax break, panelists said there is mounting proof that people will consider paying more for a property if it falls within a qualified opportunity zone.  “I got a call from a private guy who is worth $100M … literally told me on the phone last week that he is willing to pay more for an asset,” said TerraCRG founder and CEO Ofer Cohen, adding that he is expecting a pullback on the multifamily market next year. But, in Brooklyn, he believes the effects of Amazon HQ2 and opportunity zones could offset the slowdown in momentum.

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