NEW YORK, NY – August 1, 2019 – Nearly 200 New York City real estate professionals joined Ariel Property Advisors at its bi-annual Coffee & Cap Rates event in Midtown Manhattan on July 25. The networking breakfast, exclusively sponsored by Berdon Accountants and Advisors, featured a panel of some of NYC’s most influential real estate executives to discuss the event’s theme: Economic Engines of NYC. Shimon Shkury, President of Ariel Property Advisors, kicked off the event on Park Avenue at Club 101 with a presentation on the performance of the New York City investment sales market in the first half of 2019, referencing the firm’s newly released research reports on The Bronx, Brooklyn, Manhattan, Northern Manhattan and Queens. He also talked about the current state of the market and provided his forecast for the remainder of 2019.

Meyer Mintz, Tax Partner at Berdon LLP, moderated the spirited and often insightful conversation about NYC neighborhoods and asset types, with questions focused on New York’s new rent regulation laws, affordable housing, Opportunity Zones, politics and the overall state of the market.

Panelist Scott Metzner, President and Founder at Janus Property Company, shed light on his plans for the famed Taystee Building in West Harlem. Fellow panelist Michael Givner, Executive Director at Morgan Stanley, talked about the rise in demand for last-mile properties, while David Schwartz, Co-Founder & Principal at Slate Property Group, shared his thoughts about affordable housing and the impact of the Affordable New York tax incentive. Panelist Seth Pinsky, Executive Vice President & Fund Manager at RXR Realty, voiced his opinions about the politic environment and the new rent regulation laws.

All the panelists talked about each sub-market and asset class, from multifamily buildings and development sites to retail, office and industrial properties. They also provided insight on their decision-making process for recent projects.

All ticket proceeds from the event were matched by Ariel Property Advisors and donated to the nonprofit Legal Outreach. At the event, James O’Neal, Executive Director of Legal Outreach, shared the goals and objectives of his organization, which helps young people from underserved New York City communities gain admission to the country’s most competitive colleges and universities. More information about Legal Outreach is available here

Ariel Property Advisors presents Coffee & Cap Rates semi-annually to share the latest trends in the investment sales market with clients and contacts. The next Coffee & Cap Rates event will take place in February 2020.

In picture from left: Shimon Shkury, Scott Metzner, Michael Givner, Meyer Mintz, David Schwartz, Seth Pinsky