A significant trend in 2016: an intense interest in free-market buildings, specifically properties with development components and air rights. The objective: to maximize property value to its highest and best use. Derek and Adam see that the demand for rent-stabilized properties is still strong, but, due to politics, that game has become more complicated and burdensome. As a result, investors’ heads are turning toward smaller buildings (even some as modest as three units), especially if they feature air rights and/or the potential for development.
Investors are depending on BRG-CRE to share professional guidance and advice on how to get the most out of that value-add; despite the heated market and the salivating buyers and sellers, many Brooklyn properties are not being utilized to their greatest potential.
BRG underwrites at least 20 properties a week, thanks in part to the team’s expert knowledge of local zoning, redevelopment laws and air rights, and how this impacts the value of buildings.
Find out more about how you can benefit from BRG’s expertise by clicking here.