Many U.S. Cities Flooded With High-end Apartments; NYC Holds Steady
During the recent construction boom, many U.S. cities saw significant increases in high-end apartments as a proportion of total supply.
New York City was No. 18 but saw only a small increase (200 basis points) in the share of high-end units since 2017. In several cities, the proportion more than doubled.
An important consideration is the increased rent that usually accompanies upgraded housing – and specifically whether those rent levels are sustainable in cities where expansion is recent.
https://www.nreionline.com/multifamily/us-cities-most-flooded-high-end-apartments
Be Like Kushner: Tax Benefits for Real Estate Investors
NYC’s Rapidly Growing Tech Ecosystem
Recent reports indicate NYC now has the nation’s second-largest tech employment base. A deeper dive into the numbers demonstrate that this is likely a sustained trend.
Over the last few years, investment activity has more than quadrupled ($12B in 2017), round sizes have increased substantially (3x in 4 years), and we’ve seen an improved exit environment for venture-backed companies.
https://medium.com/parsa-vc/why-im-bullish-on-the-rapidly-growing-new-york-startup-ecosystem-510a11e6a265
Where are Manhattan’s Safest Bets?
REITs Insight: Cranes Before Skyscrapers