Not long ago, I sat on a panel at the National Association of Realtors’ conference along with my research counterparts from other commercial real estate firms. After our presentations, the moderator took questions from the audience. The most interesting question, I thought, concerned opportunities for investment over the next few years — i.e., what property types and locations will offer the best returns?
“As a result of the collapse of the mortgage market, many feel that replacing Fannie Mae and Freddie Mac is a necessity, but, according to an article recently published in Forbes, phasing out Fannie and Freddie as a consequence to the mortgage meltdown is like “pulling over when the check engine light comes on and changing a tire, the fix has nothing to do with the problem.”
TerraCRG has been retained to exclusively represent ownership in the sale of the predominantly vacant multifamily building at 190 Huron Street in the Greenpoint neighborhood of Brooklyn. Located between McGuinness Blvd and Manhattan Avenue, the ~4,125 SF, 3-story building consists of 6 railroad style apartments, out of which 4 will be delivered vacant. There is also a full ~1,375 SF basement that can be duplexed with the first floor.
“Multifamily housing investors’ options for financing sources have been shifting lately, and Fannie Mae’s recent major revisions to the Multifamily Selling and Servicing Guide–which went into effect in February 2014–are adding another layer of complexity to the multifamily lending landscape.”
That really helps get rid of the vacant space,” Coyle said. “It tightens that office market up and it’s bringing young people, 30-somethings, not only into Northeast Ohio but to the Cleveland CBD. They want to live, work and play here. That’s bringing energy and excitement to the CBD.” – See more at: http://www.rejournals.com/2014/03/10/people-are-moving-back-into-downtown-cleveland-and-thats-good-news-for-all-of-northeast-ohio/#sthash.Lt9sfdtD.dpuf