Multifamily

Are cap rates on value-add deals coming down? That was one of the many topics of discussion at the recent Crittenden National Real Estate conference this week.

Projects like HUBBARD221 saw a brisk pace of leasing over the winter.

Since 2000, Los Angeles has spent $28.4 billion on the construction of new multifamily product as the spending on single-family construction has fallen.

At the Crittenden National Real Estate Conference yesterday, panelists fear rising construction costs, rent control for California and a supply constrained market, but say housing cycle could go much longer this go around.

With the increase in supply for multifamily product, property managers are finding unique ways to curb competition at the property level to drive value for owners.

The Bradley, located at 51 Northwest 26th St., will include 175 micro studio, one- and two-bedroom units ranging from 480 square feet to 1,000 square feet and will also feature approximately 32,000 square feet of commercial space.

Work on both phases involved a total of $166 million in public and private investment, CAMBA Housing Ventures states.

“Hudson County is among the hottest development markets, especially for multifamily properties, in the Tri-State Area,” says Kislak's Scott Davidovic.