For this week’s episode, I am happy to share Avison Young’s 3rd Quarter 2022 State of the Market for New York City. Even if you invest outside this market, I know you will get value out of this episode. We discuss the decline in sales volume and values (with a few exceptions). There has been a shift in institutional demand to residential over office. I will cover what would be needed to convert office to residential which could be a big answer to this challenge.  That being said, we will also look at data that shows that the return to office has not been uniform across various cities. There are huge variations based on submarket, industry, and tenancy.

Brent Glodowski, who heads our retail sales group, will then discuss the opportunities that exist in this segment of the market.  He will cover how rising interest rates have pushed cap rates up and why 1031 buyers are the best in the market today.

Then Scott Singer, our Co-Lead of Tri-State Debt & Equity Finance, will talk about the debt markets and what to look out for the future. He will answer the question of if you should refinance now. He will also compare this cycles to the past to see if we can glean any wisdom. Finally, he will speak about how the Inverted Yield Curve could actually be a surprising opportunity for borrowers

To follow along with the discussion please use this link:

https://acrobat.adobe.com/link/review?uri=urn:aaid:scds:US:290402e6-1837-321f-a816-469c057d815a

Thanks for Listening!