All Forum Posts by: Lewis Tse

Hi Cristiano, I work as a landlord's agent in Uptown Manhattan primarily. Happy to chat about some opportunities in that specific market. I am also looking to buy in that area as that is where my business is so there's a slight edge to be had.

@Cristiano Bell I work in NYC (more specifically Uptown Manhattan) as a landlord's agent and many times I come across landlords that own rent-stabilized multi-family buildings. The new rules are absolutely problematic when it comes to rental increases, but more times than not, the owners are more strict on their requirements for a prospective tenant. They may even warehouse vacancies in some cases. (COVID shifted some of this mentality because of our 5% "realized" vacancy rate, estimated 20% shadow inventory off-market)  

When I look at NYC as an investment, I see holding for the long term with negligible cap rates. 6-7% cap rate sounds around where you want to be so if such an opportunity is presented to you, run with it!

Things may seem grim now and I may be biased but as a New Yorker, I have faith in the recovery. The matter of "when" is what I'm looking forward to

I work as a landlord's agent in NYC and with the vacancy rate as high as it is, we're not getting out of this situation any time in the near future. As much as my landlords appreciate the efforts I put in to rent their apartments, they are hesitant to put in anyone because of similar cases like what OP is going through.

Corporate landlords in Midtown or small owners of brownstones up in Harlem, I hear the same pain points. You're not alone and I wish you all the best in your current situation.