Christine Caruso

Wondering if a 1031 exchange is the right tax move for you? CBIZ Marks Paneth Managing Director Al Blecher joined hosts John Engel and Roberto Cabrera on the Boroughs and Burbs podcast to discuss eligibility, the nuances of the strategy, and its tax implications. 💻 Watch below! #realestate #1031exchange #tax #podcast

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I totally agree that ADUs and other missing middle housing types can make a big impact in Massachusetts and across the country. Some important clarifications in this article: - The globe cites Bequall's analysis of 950K eligible parcels for DETACHED ADUs. This doesn't include the opportunity to convert garages or other spaces into ADUs so the opportunity is significant across the state. - RE: Lowell - 1) 57% of homes in Lowell are non-owner-occupied. Small landlords make up the majority of unsubsidized housing across the country. They provide naturally affordable housing. Homeowners could provide for their families or add a new income stream by supporting their community members. Small landlords can create new housing options on their existing properties vs buying additional existing homes. 2) NIMBY arguments say that ADUs strain the school systems and infrastructure. I see no evidence anywhere to support this statement. With the maximum ADU currently proposed at 900 sq ft you need to fit a family in there. In CA and other markets, 85% of those who live in an ADU are 1 and 2-person households. 3) Reducing sprawl has a significant impact on reducing carbon emissions and the cost of road maintenance because people don't have to travel as far, and there are fewer roads that need to be maintained. Infrastructure impact (water, sewer, electrical) will be minimal because of the size and energy efficiency. Lastly, they underplay the impact of ADUs. To word their last statement differently - In less than 5 years, ADU permits are half of all single-family home permits. Due to the time it takes to permit and build an ADU (250+ days) only half of submitted permits receive occupancy permits within the year. So there's a delay that isn't properly captured in the data. I'm a huge fan of ADU policy being statewide!

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So apparently the MTA is doing a fairly secretive study on Transit Oriented Development looking at different sites across Long Island. A regional agency undergoing these sorts of assessments without community input continues the backlash that has occurred over the last 4 years with various top down approaches to planning housing. Housing development - whether it be affordable, TOD, ADU's, multifamily apartments or condominiums best chance of success is when it is planned locally. Here is one of many instances of community backlash over the last few years. This one is in the Village of Babylon where 500 people came out to protest the MTA's plans for housing development by their train station on a well used lot. This comes at an unfortunate time where local communities were starting to build up trust again that NYS or regional interests were not going to impose their will on local communities across Long Island. Towards that end 23 municipalities representing 48% of Long Island's population have signed up for the NYS Pro Housing incentive program. Hopefully the MTA can make public what they are working on and collaborate with local municipalities so any project opportunities they want to advance are vetted and planned through the appropriate Town or Village. Check out the story from News 12 Long Island........ https://lnkd.in/ezqZ3eKf

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The City of Philadelphia ranked first in the Northeast for rental activity, according to RentCafe.com. What does this mean for the future supply and demand of rental homes and rent prices in the city? We chatted with Doug Ressler of Yardi Matrix, the stats man behind the numbers. #realestate #landlord #rent

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🗽 Since 421-a expired in June 2022, New York City developers have been awaiting a replacement program. That time has come. The Fiscal Year 2025 New York State budget introduces two key programs: 1️. Affordable Neighborhoods for New Yorkers Program (ANNY), or 485-x. 2️. Affordable Housing from Commercial Conversions Program (AHCC). These initiatives are a crucial part of Albany’s plan to tackle NYC's housing crisis. ⤵️ #NYC #HousingCrisis

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June 2024 Has the chicken come home to roost in Albany? Over the past fifteen years, New York’s real estate landscape has been characterized by an increasing amount of regulation. This trend, advanced by progressive members of the NY State Legislature, has kept real estate owners in the crosshairs of policymakers. New rent laws in 2019 were a blow to residential property owners, costly building compliance regulations were a burden for office owners and a spike in crime took a toll on retail operators as well, which some blame on the 2019 bail reform. While these are but a few of the politically imposed impediments dragging on real estate value creation, it’s all happening with the backdrop of decreased office occupancy post-COVID and ballooning interest rates for real estate debt. All the above and more has contributed to a growing gap in City & State tax coffers respectively, leaving legislators scrambling for new sources of funding to address the deficit. Congestion pricing was one such initiative that was designed to alleviate traffic congestion in Manhattan while providing a much-needed financial boost to the Metropolitan Transportation Authority (MTA) for infrastructure upgrades. However, after extreme resistance and growing dissatisfaction among moderate and centrist factions, Governor Kathy Hochul, decided to halt the congestion pricing initiative at the last minute citing the current fragility of NY’s economic recovery. Some highlighted this could represent a pivot back to the center for New York politics. On the heels of a primary season that saw the displacement of Democratic congressional incumbent Jamaal Bowman, perhaps the November election will shed more light on the direction we are headed and the types of candidates we'll see in office? As in any market, political dynamics have significant implications for real estate. The dominance of the current legislature has driven policies many argue are unsustainable by disincentivizing property ownership and limiting the ability to create value. As the political landscape evolves, there is cautious optimism that a more balanced approach to governance might take root with more centrist and pragmatic leadership. This could involve a reassessment of the current policies and a potential rollback of some of the more restrictive measures that have been put in place. The hope is that with more sensible and pragmatic leaders, New York City will remain poised to defend its status as a thriving hub of growth, commerce and innovation.

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Fixing MBTA and housing in Massachusetts are governor's goals for 2025 Contact me to discuss the latest scoop in real estate! #FirstHomeBuyer #RealEstateInvestment #MultiFamilyHouse #LuxuryRealEstate #HouseHunting #Dreamhome #MARealEstate #Realtorexpert

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🏢 Veris Residential Explores Options for $450 Million Property 💰 Key Highlights: * Veris Residential Inc. is considering a sale or refinancing for their $450 million apartment complex near Jersey City's waterfront. * They have enlisted the expertise of Newmark Group Inc. brokers, led by Adam Spies and Adam Doneger, to market the property located at 200 Greene St. (Jersey City Urby). * The building, completed in 2017, boasts 762 units with an impressive 97% occupancy rate🌟 Why Jersey City? * The area has experienced significant rent growth, attracting residents seeking more affordable options near NYC. * Median rent for a one-bedroom hit $3,300 in September, compared to $4,500 in NYC. 📈 Amenities include: * Pool 🏊‍♂️ * Gym 💪 * Yoga studio 🧘‍♀️ * Dog park 🐾 * Just an 8-minute walk to a train station with direct access to NYC. * Retail tenants include Glowbar and Domodomo restaurant. 🍽️ Market Insights: * The commercial-property market is showing signs of recovery following the Federal Reserve's recent interest rate cuts. 📉 * Demand for well-located residential properties is on the rise, while older offices are trading at significant discounts. Other Players in the Market: JPMorgan Chase & Co. and Fisher are also seeking financing of approximately $370 million for their residential project, the Vantage Collection in Jersey City. 🏗️ https://lnkd.in/gPkCCvxn

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6/19/2024 Wilbraham, MA. Colony Hills Capital announced the June 13, 2024, purchase of its second New Jersey multifamily property, Mount Laurel Crossing Apartments, a 296-unit Class Agarden-style apartment community in the affluent community of Mount Laurel. With this new acquisition, Colony Hills Capital has over $1.3 Billion in transactions, $700 million in assets under management, and over 12,500 apartment units transacted. “This acquisition aligns with our investment strategy, presents an attractive value-add opportunity in a high-growth market, further diversifies our portfolio, provides our investors with an attractive risk-adjusted return profile, and enhances the living experience for our residents.” Glenn Hanson, Founder and CEO Property improvements will include minor to substantial renovations of all units, remodeling common areas, adding amenities, and expanding the fitness center. They will also include installing EV charging stations, enhanced landscaping, and new signage. Current resident amenities include a resort-style swimming pool, outdoor lounge, dog park, clubhouse, and detached garages. The Mount Laurel area is known for its highly sought-after school districts and upscale singlefamily homes and has demonstrated consistent rental performance. Colony Hills' value-add strategy will continue to attract residents seeking high-quality living spaces and a comprehensive suite of amenities, driving rent growth and increasing the property's value over the hold period. Strategically located just 15 miles east of Philadelphia and part of the broader Delaware Valley region, Mount Laurel residents have access to a diverse range of large employers. Notable area employers include The University of Pennsylvania and Penn Medicine, Virtua Health, Campbell Soup Company, Comcast, Lockheed Martin, Cooper University Health Care, Rowan University, and Subaru of America. Colony Hills Capital is a real estate investment firm that specializes in value-add apartment community housing in undervalued Class A- through B assets. Creating a “win-win” management strategy with property-specific capital improvement programs improves the residents' quality of life while maximizing returns to investors. 

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Greg Fedorinchik, Managing Director of Equity Capital Markets at NexMetro Communities was just featured in Elana Margulies Snyderman’s Trends Watch, a weekly entry to its Alternative Investments Intelligence blog featuring the views and insights of executives from alternative investment firms. Read this engaging Q&A entitled 'Trends Watch: Investing in Build-to-Rent Housing Communities' here: https://lnkd.in/grxmHHB9 #NexMetro, #BTR, #BuildToRent, #RealEstateInvestment, #TrendsWatch, #LuxuryLeasedLiving, #AlternativeInvestments

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☀️ Watch Now: Monetizing Solar in Multi-Tenant Properties – Success Stories from CREtech New York Missed this insightful session at CREtech New York 2024? The recording is now available! Hear from Logan Carter, PE, MBA, CCO at Ivy Energy, as he shares how their groundbreaking technology is revolutionizing multi-tenant real estate. Discover how Ivy Energy is: - Solving the split incentive problem, enabling property owners to invest in solar. - Helping owners monetize solar installations while delivering tangible energy savings to tenants. - Driving sustainability and profitability through innovative energy solutions. Learn from real-world success stories and explore how solar energy can unlock new value in multi-tenant properties. 🎥 Watch the session now: https://bit.ly/41tu0e2 🔑 Want more content like this? Sign up for CREtech+ today and start your free 30-day trial! 👉https://bit.ly/3ZM4Ki0 #CREtechNewYork2024 #SustainabilityInRealEstate #SolarInnovation #Sustainability #Innovation #BuiltWorld #RealEstate Michael Beckerman Lindsey Imperatore Kay Ross-Baker Kyle Halls Emily Wright Lauren Watson

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We are seeing some interesting shifts in Boston's most expensive rental market— and you can read all about it in our 2024 Back Bay Apartment Rental Market Report. As we quickly approach September 1, it's important for landlords and real estate agents to pay attention to the data and adjust accordingly. Our latest reports provide an in-depth analysis of Back Bay and explore the implications of evolving trends in this neighborhood for the broader Boston market. Where do you see the Back Bay rental market going before and after September 1? Please let me know your thoughts in the comments. #BostonRealEstate #BostonApartments #BackBayApartments #BackBayMA #BostonBackBay #Renters #Landlords #RealEstateAgents #RealTimeData #MostListings #MostKeys #MostLandlords #MostApartments #MostData #MostLeads #MostDeals #MostTrusted #BostonPads

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Residential vs. Commercial real estate investments—Our blog compares them from a borrower’s perspective. Explore the differences: https://buff.ly/4dc8IEt #RealEstateComparison #InvestmentInsights #NewYork

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JUST LAUNCHED: 2024 Life Sciences Report for the Philadelphia Biocluster. Despite continued cautiousness of the capital markets there have been bright lights in 2024. Over 210,000 SF of deal volume has been transacted in Q3 and capital raises have already surpassed what was achieved in 2023. Read our full report for market details and outlook, and discover the key factors we expect to be shaping the next 2-3 years in the cluster. https://hubs.la/Q02_j_bM0

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Seeking LPs for Downtown NJ Shovel-Ready Mixed-Use Multifamily High-Rise Development We are actively seeking Limited Partners (LPs) for a shovel-ready, mixed-use multifamily high-rise development in downtown New Jersey. This prime urban location is less than 30 minutes from Manhattan, adjacent to major commuter hubs, and situated in a rapidly growing, high-demand area. Project Highlights: Total Project Cost: $119M Open LP Positions: $50M Strategic Location: Close to major transportation links, offering easy access to NYC This is an exciting opportunity to be part of a development poised for strong growth in a high-demand market. If you’re interested in exploring this opportunity or learning more, please reach out directly. Disclaimer: This opportunity is for accredited investors only. All investments carry risk, and we recommend that potential investors conduct their own due diligence and consult with a financial advisor before making any investment decisions. #RealEstateInvestment #MultifamilyDevelopment #HighRiseDevelopment #MixedUseDevelopment #NewJersey #DowntownNJ #ShovelReadyProject #UrbanDevelopment #RealEstateOpportunities #LPInvestment #CommercialRealEstate #DevelopmentOpportunities #NYC #AccreditedInvestors #RealEstatePartnership #NJRealEstate #InvestInRealEstate #RealEstateDevelopment #RealEstateInvesting

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Change is Ahead: Founding and leading Housing Navigator Massachusetts, Inc has been a gratifying, humbling, and fascinating experience usually all at the same time! I will be forever proud of what our collective hard work makes possible. I’ve also known that at some point, I would want to move on to the next thing. Today, I’m announcing that I’ve decided to start my transition out of the ED role. The Board has been working with me to ensure there’s a smooth process that, most of all, will maintain the quality people deserve and expect from our tools and organization. What happens next for Navigator? The Navigator Board will be working with Koya Partners/Diversified Search Group to find the next leader. There is a great team at Navigator, strong balance sheet, and a solid organizational underpinning (proud of that too!) I will be in the ED role until early spring, 2025 to keep all systems running smoothly and have some overlap with the new ED. What happens next for me? For 15 years, I consulted to nonprofits and the public sector. I honestly miss it. After a travel break, I’ll return to that role bringing in a whole new set of learnings from the last 7+ years leading a social impact tech venture. So no changes just yet. I’ll be right here for the next several months. Plus, I look forward to continuing to work alongside many of you. Finally, it's Thursday afterall...why not a look back??? Here's the first mock-up for a mapped search on Housing Navigator c. 2018. Plenty has changed (whoa, orange!). And also today's mission and commitment to ease and access tie right back to those earliest days. I look forward to supporting the next phase and next leader of Housing Navigator MA!

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