According to Kadish, those issues persist. “Sellers definitely need to warm up to the fact that it is a new world,” Kadish said. “They can’t rely upon their 2021 or 2022 pro forma. They are going to get, frankly, a higher exit cap than they were expecting, and they were originally underwriting three to five years ago.”When interest rates began rising in 2022, gaps emerged in perceptions of property values. Sellers clung to pre-rate-hike prices, while buyers pointed to a higher cost of capital that was dingi ...

Housing Market - Rent-stabilized apartments in New York City, numbering approximately 1 million, will experience price increases for the fourth consecutive year [1]