In the latest episode of The Brownstoner Podcast, Adam Hess, a veteran commercial real estate broker with Meridian Capital, details the effect of COVID and rent regulation on multi-family and retail investment property in Brooklyn. A former attorney, he lives in Brooklyn and serves on the board of the Brooklyn Children’s Museum.
Vacancy rates are top of mind right now for landlords, but prices have dropped and now is a good time to buy, he said. Buyers have to put in more equity because banks are conservative with underwriting, but the long term outlook is good. “Brownstone Brooklyn is always desirable,” he noted.
Tune into The Brownstoner Podcast here.