Ron Cohen, a commercial real estate broker who sells multifamily properties for landlords, came to the public hearing with a clear message for the Rent Guidelines Board. “Any increase in rents is very necessary to maintain quality to maintain these buildings for a better quality of living for these tenants,” he said.
Haussmann Development has acquired a vacant lot in Harlem and plans to build a 10-story residential building on the site.
New York's hotel occupancy rate faltered slightly from its October high as rooms used to shelter migrants begin to empty out.
Owning and operating property in New York City is a double-edged sword of great opportunity and intense regulation.
In the coming months, New York City will end its contracts for thousands of hotel rooms that have served as shelters for the waves of migrants who have arrived in the five boroughs.
Hospitality operators and owners in New York City say a city council bill poses an existential threat to many of the city’s hotels. The Safe Hotels Act, a bill introduced by City Council Member Julie Menin in mid-July, has caused an uproar among hotel owners, who say its labor requirements and proposed licensing process will place the city’s entire industry in a stranglehold.
We now have a formidable group with expertise in selling investment property in NYC and multiple states, as well as the hotel sector. The results are there: our increased sales volume led to being recognized as a recipient of the esteemed CoStar Power Broker Top NYC Firm award for 2023.
This episode dives into what makes New York City’s hospitality market an exciting investment market with Anudeep Gosal, Senior Director at Besen Partner’s Hotel Advisory Group.
The hotel industry’s post-Covid revenue rebound has been a marker of success in the city’s pandemic recovery. It also may be misleading. The notable improvement in the hotel sector’s fortunes over the past year seems to have more to do with government interventions than any major market turnaround, say some.
Besen Partners is pleased to announce that we have once again been recognized as a Top Firm in New York City with CoStar’s prestigious Power Broker/Top Firm industry award for 2023