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December 23, 2020

In 2020, The Pandemic Kicked NYC Landlords When They Were Already Down

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As the curtains fall on a harsh year for New York City’s real estate market, its investors are bracing for the pain to extend well into next year even as some glimmers of hope emerge.

In 2020, The Pandemic Kicked NYC Landlords When They Were Already Down

The city is on pace to see $8.4B in building sales volume in 2020, a nearly 70% drop off the 10-year average, per Avison Young’s latest data. That figure represents a 50% decrease from last year.Pricing and values are another matter — brokers point to reductions of as much as 30% in some…

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Anonymous LLCs To Be Outlawed As Part Of Defense Spending Bill

Anonymous LLCs To Be Outlawed As Part Of Defense Spending Bill  

The commercial real estate industry may be forced to become much more transparent in the coming years. A subsection of the newest version of the National Defense Authorization Act would force all new corporations and limited liability companies to disclose the name, address and government-issued identification number of all…

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The Weird Psychology Of Why You Do So Many Deals In December

Every December, professionals across various sectors of real estate race around, stressed, trying to get those last few contracts signed before the calendar turns over. The fourth quarter, and especially December, almost always sees a surge of deals closed. But why?

The reason behind it lies in the warped logic where economics and psychology meet. And it may be causing you to make bad investments.

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Origin Stories: Vero Co-Founder Joe Ben-Zvi On How Getting Unlucky Changed His Career

 

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

Vero Leasing co-founder and Chief Operating Officer Joe Ben-Zvi had a couple of stepping stones on his route to the CRE career that fits just right. After getting a bachelor's degree in arts and science from New York University, he started working for a small investor flipping homes on Long Island. But it seemed like the real estate agents who showed those homes were making more money, so he got his real estate license and became a broker.

He started in CRE in 2000, showing multifamily units for lease in Manhattan. It didn't work out for him right away — he didn't close many deals that first year. But he stuck with it and three years later began running a brokerage of his own. Then, the recession hit, everything fell apart and he had to make an even bigger change. 

Read the full story here.

 
 
       
 
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