The city’s multifamily market is ice-cold. Brokers say it won’t last long.

Uncertainty over looming changes to rent laws in Albany has chilled the city’s multifamily market. But brokers, ever optimistic, see this as a temporary blip. “I think most people are in a holding pattern until the laws get designed and people figure out what’s going on,” said Steven Vegh, a broker at Westwood Realty Associates. “I think once they pass whatever will pass, it will stabilize.” Changes to New York’s rent laws have been widely […]

from The Real Deal New York

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