Adrian Mercado, CIO at B6
NEW YORK CITY—The rent regulation laws approved in June, “on the multifamily side definitely caused a softening of the market. We're seeing a pronounced drop in multifamily sales. It started towards the end of 2018 but we really saw it come out in Q2 2019,” Adrian Mercado, partner and chief information officer at B6 Real Estate Advisors, tells GlobeSt.com.
Multifamily, often considered a darling of real estate—as people always need places to live, witnessed a citywide drop of 48% in transactional activity in H1 2019 compared to H1 from last year.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
