Picking the Next Residential Neighborhood

Washington Heights has great transportation, but rent-stabilized housing makes land acquisition there difficult, and thus Bushwick will pop faster, says Taconic’s Kevin Davis (with Ariel Property Advisors president Shimon Shkury). Similarly, Williamsburg sprouted quickly because it started as a primarily industrial market, and so creating a neighborhood was easier. (After all, the word "house" is already in the word "warehouse.") We snapped Kevin and Shimon, as well as the gents below, at Ariel’s recent Coffee & Cap Rates event at Club 101.

L&M Development’s Dave Dishy (right, with Synapse Capital’s Justin Palmer and Hudson Cos’ Joe Kohl-Riggs) likes to look along east/west corridors for investment opportunities. Think of Newark, Jersey City, Lower Manhattan, and Downtown Brooklyn as boosting each other's potential. Same for Hudson Yards through Manhattan to Long Island City and farther down the 7 line. Joe’s slightly tongue-in-cheek advice for how to get ahead of the competition: “Go as far as you’re willing to go on any given subway line, then go two more stops.”

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Comcast Consolidates To 140K SF In Times Square

ICE Pivot From Warehouse Plan Funnels Cash To Private Prison Owners

Blackstone Vice Chairman Tom Nides On Leadership And The Future Of CRE

Orders To Vacate On The Rise, Leaving Tenants With No Home, No Timeline

Fannie Mae Latest Lender Suing Alan Stalcup To Collect 'Bad Boy' Guarantee

California Real Estate Exec Charged In Child-Safety Sting

CRE Leaders Stress Importance Of Adaptability As DFW Continues To Grow

Chicago's Apartment Pipeline Is Slowing, But This Lender Bets On Rehab Instead

HUD Withholds Voucher Funding, Pushing Landlords, Tenants To The Brink

Post Brothers Looks To Sell 2 Philly Apartment Buildings

Pablo Castro's Lawyers Quit HueHub Suit, Citing 'Irreconcilable Differences'

Tishman Speyer Makes Charlotte Debut With $76.3M Apartment Buy