One of the brightest spots in New York City’s real estate market has been the increasingly high interest in affordable housing investment from a range of market players. Particularly now in a more risk-averse market, affordable housing presents a great deal of stability and security for owners, and more housing stock is on the way to meet rising demand. According to Mayor Bill de Blasio, 2020 marked the second-highest one-year total for the creation of affordable units in the city.
“While affordable housing may not have the prospect of outsized returns that unregulated market rate housing can sometimes provide, they offer more stability in times of great market volatility,” said Victor Sozio, Executive Vice President of Investment Sales with Ariel Property Advisors. “Experienced and qualified operators can also leverage tax subsidies and voucher-based payments to enhance a project’s profitability.”
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