New York Real Estate Private Equity & Capital Markets Forum
On March 28, 2018, and Michael E. Lefkowitz and Eric S. Orenstein participated in IMN’s New York Real Estate Private Equity and Capital Markets Forum. The event took place at the Marriott New York Downtown with a variety of attendees.
Lefkowitz moderated the panel: Doing Business in NYC-A Regulatory and Political Roadmap to Investing in Multifamily in NYC and the Suburbs Panel, along with panelists: Sunder Jambunathan, Principal at Certes Partners; Sean Reimer, VP & Investments at Square Mile Capital Management and Oliver Swan, Managing Partner at Treesdale Real Estate Partners. The panel discussed the New 421(a) Affordable New York and the pros/cons vs. the prior 421(a) program. Panelist weighed in on advantage and disadvantages of the new tax abatement program. They also discussed NYC residential rezoning triggering Mandatory Inclusionary Housing requirements and how developments can benefit from MIH, Affordable New York, and available subsidized financing. There was a long discussion on micro units and student housing and the additional challenges faced in both construction and zoning and legal compliance. Lastly, they had a robust exchange on the question of “what’s your prediction for the future of multifamily housing?”.
Orenstein participated in the panel: Mezz & Bridge Financing, along with Thomas A. Maira, Partner at DLA Piper LLP; Jacob Feingold, VP at Canyon Partners Real Estate; Adi Chugh, Founder & Managing Partner, Maverick Commercial Properties; John Lippman, Senior Director at New York life Real Estate Investors; Gregory Nero, EVP & General Counsel at Sterling Equities; and Dan Hartman, Managing Director at Terra Capital Partners. They discussed a variety of topics ranging from construction in the mezz market, the selling and buying of loans, personal preferences when it comes to mezzanine and preferred equity structures and the current trends in the market.