Gerald Zais

The HYM Investment Group, LLC Suffolk Downs project is not moving forward due to financing challenges that a representative of the broader Boston market. High interest rates and rising materials costs are stalling projects across the region. Based on these rising costs the ability to deliver returns are being challenged. As Thomas O'Brien explains, “The equity is literally like an on-off switch. Either you get to the 6.5% percent return on cost, or you don’t have a project.” These dynamics mean that despite high demand for new units developers are putting a number of permitted projects on hold and creating a significant backlog of permitted units not in construction. The halted progress could impact housing supply for years in Greater Boston and lead to high rents as supply and demand continue to tilt out of balance. #bostondevelopment #bostonconstruction https://lnkd.in/eW5GncT2

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🚨 #MarketMonday: Northern NJ Industrial Market Update – Q3 2024 🚨 Sublease availability is rising in the Northern New Jersey industrial market, providing both challenges and opportunities for occupiers. 📊 💼 Key Insights: Sublease Space Growth: With a significant uptick in sublease options, occupiers have more flexibility in finding space that fits their needs—often at lower rates than direct leases. Rent Trends: Many sublease offerings are priced below market rates, creating opportunities for cost savings. Occupier Opportunities: Subleases offer faster occupancy solutions for businesses needing immediate space, ideal for scaling or streamlining operations. Market Dynamics: As more companies release space, competition may increase for landlords, but it also opens doors for savvy businesses to secure advantageous terms. If you're navigating this evolving market, let's discuss how Savills can help you optimize your strategy and capitalize on these opportunities. 📈 #CommercialRealEstate #IndustrialMarket #Savills #Sublease #RealEstateTrends #NorthernNJ

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Massachusetts to Invest $5 Billion in Affordable Housing https://lnkd.in/eUiqxV6i People ask why I’m so eager to get out of Massachusetts (and I will - moving to Dallas next month). Here’s a great example of why. $5 BILLION. Let’s start with the fact that government doesn’t “invest.” Only those with assets can invest and the only assets the government has? It took from me. State spending on “housing” will do little to nothing to solve Massachusetts’ housing issues. MA is wildly expensive because the overwhelming majority of its population lives in a very small part of the state. Demand? Meet supply. Add to that the staggering NIMBYism of the extremely leftist population? And nothing gets done. Get government OUT of the way, issue some damned building permits and allow building at scale and the market will solve the housing problem. But the only available answer in MA is for the state to take more of my money. Good luck with that when I’m in Texas.

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With the passing of the FY Budget passed in Albany earlier today, the Real Estate Development landscape has shifted dramatically. These might be the most developer-friendly policies passed in New York State in the last 20 years. Improvement on the expired 421A, Office to residential conversion incentives, improvements to the IAI formula, lifted caps on FAR 12 (specifically catered for City of Yes passing). Aspects of Good Cause also passed, but in a drastically watered down form. This is an exciting time to be in real estate in New York City. 🚀🚀🚀

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We pride ourselves on our deep-rooted knowledge of the New Hampshire real estate market. Our finely-tuned process for finding and managing rental properties allows you to leverage our expertise without the need to navigate the complexities yourself. By partnering with us, you can bypass the common pitfalls and challenges of real estate investing. We handle every detail, so you can enjoy the benefits without the headaches. Contact us to get started! Follow Kyrios Capital LLC #RealEstateInvesting #TakeAction #MultifamilyInvesting #FinancialDecisions #MoneyTips #FinancialPlanning #investment #RealEstateInvesting #realestatenewhampshire #realestateinvestmentn #newyorkrealestate #entrepreneur #selfemployed #businessowner #smallbusiness #smallbusinessowner #realestateadvice #investmentproperty #propertyportfolio #investmentproperty #realestate #investment #realestateinvestor #realestate #investmentstrategy #longtermrentalproperties

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Curious about the Real Estate market in your community? Click the link and contact me to discuss. #realestate #localmarket #equityinyourhome #sellers #buyers #sellersagent

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Here are 10 common pitfalls in NYC Property Development and strategies to overcome them: https://lnkd.in/eh6fc9Nq #realestate #NYC #Propertydevelopment

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Great coverage from NYC’s top bureaucrat responsible for housing creation. This is a tough job considering NYC has its own council but still heavily relies on NY State Legislators. Key Q&A though on what makes NYC housing supply so dysfunctional and spurs gentrification into the outer boroughs with all of its racial / social consequences: “Bisnow: In the past, we’ve seen community boards voice serious opposition in certain parts of the city to building more housing, as well as to having more housing density. What are the risks of that this time? Garodnick: We have a real imbalance in New York City on the creation of housing. In 2022, nine community board districts produced as much housing as the other 50 combined. We need to enable a little more housing in every neighborhood of New York City. We believe that we have crafted a proposal that is respectful of neighborhoods.” #nycrealestate #housingcrisis

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It’s common knowledge that Massachusetts, and Greater Boston in particular, is facing a housing crisis. To combat this, there has been a widespread increase in policies that support housing production, both at the state level, and in individual municipalities.   A recent story from Boston Business Journal gives another reason for urgency on this matter. An estimate from RentCafe found that the Boston area will see fewer rental units built in the coming five years than it has in the previous five after analysis of construction data. That estimate suggests the Boston metro area will build 35,772 units by 2029, which represents a ten percent drop from the previous five years, and a far cry from the state-wide housing deficit of 200,000 homes we need to build to get back on track.   As the article notes, the estimate ranks Boston below cities like Raleigh, North Carolina, and San Antonio, Texas. Housing is a huge barrier to the state’s economic competitiveness, and without an increase in the supply, residents will continue to migrate to the faster growing states with lower housing costs. It’s no coincidence that states like North Carolina and Texas represent prime competition to our economy. Failing to keep up with their housing production puts Massachusetts in a less advantageous position when vying for businesses and talent.   The study itself does not take into account recent policy changes, including the MBTA Communities Act, recent housing bond bill, or Boston’s tax break for office to residential conversions – all important, housing-forward policies, though no silver bullet. Developers continue to face major challenges, including, as the article notes, the high cost of construction locally.   The basis of the region’s housing crisis is that demand is outpacing supply. In order to combat this, we need to continue to reduce barriers to building more housing, including cost and restrictive zoning. While the latest policies are a step in the right direction, we need to do more to ensure that the number of homes built in the state continues to grow.   Read more here: https://lnkd.in/eyngAq4s

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Why Buying a Home in Massachusetts Beats Renting #Sellersagent #Realestate #Bostonrealestate #KW #massachusettshousing #massachusettsrealestate #massachusettsinvesting #massachusettsrealtor #massachusettsrealestateagent #realtor

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Courtesy of Greg Reibman Report: hiring woes ease but housing hunt handcuffs Massachusetts continues to be viewed as a leader in education and technological innovation and an attractive home for talent. But the rising cost of living — led by the cost of housing — are now the dominant factors influencing local employers’ hiring and location decisions, according to this year’s Massachusetts Business Roundtable survey. While still a challenge, organizations report a modest decline in the difficulty recruiting talent compared to one year ago. Still, more than half of respondents indicated that the top recruiting challenge is candidates’ unwillingness to move to Massachusetts. And 91% of respondents believe investments in housing production will improve the state’s competitiveness. “Employers still love being in Massachusetts for all it has to offer, however, the cost of living and fundamental changes in mobility have given employers alternatives that they are exploring,” said JD Chesloff, president & CEO of the Roundtable.

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