The TreppWire Podcast: A Commercial Real Estate Show

288. Demystifying NY Multifamily Rent Control & Rent Stabilization with Avi Schron, Cammeby's International

Nov 4, 2024

Avi Schron, Executive Vice President of Cammeby's International, shares his expertise in New York's multifamily real estate landscape. He unpacks the differences between rent control and rent stabilization, shedding light on their historical development. The discussion gets real as Avi addresses the financial strains on landlords and the challenges of rent collection. He also explores the shift towards office-to-residential conversions and highlights how technology is revolutionizing property management. Finally, he offers valuable insights for navigating the complexities of the current CRE market.

41:08

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Episode guests

Avi Schron

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Episode notes

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Quick takeaways

Avi Schron explains the critical distinction between rent control and rent stabilization in NYC, emphasizing their significant impact on multifamily property management.

The podcast highlights the financial challenges faced by landlords due to restrictive rent increases and rising operating costs amidst evolving market conditions.

Deep dives

Avi Straughn's Journey in Real Estate

Avi Straughn's roots in real estate trace back to the late 1960s, when his father began purchasing foreclosure properties. This hands-on approach focused on tenant needs and maintaining the quality of buildings, leading to a legacy of buy-and-hold strategies. Over the decades, Camabeas International has expanded its portfolio across various states, mainly in the tri-state area, while preserving a reputation for effective management and customer service. Their long-term philosophy emphasizes holding properties to build value and maintain consistent operations.

Intro

4min

Navigating Rent Control in New York

20min

Repurposing Spaces: Office to Residential Challenges

5min

Exploring Solutions for Rent Control Challenges

4min

Transforming Operations through Technology in Commercial Real Estate

3min

Navigating Fraud and Housing Challenges in Commercial Real Estate

5min

In this timely and special guest episode of The TreppWire Podcast, we are joined by Avi Schron of Cammeby's International. Avi breaks down the difference between rent control and rent stabilization, shares his perspective on how multifamily rent control developed, and unpacks some of the biggest challenges that multifamily operators in NYC are currently facing. We also dive into rent stabilization’s impact on multifamily properties and share Trepp data that adds to the New York narrative. We discuss the role of data, technology, and innovation in the CRE industry, and wrap up the episode with Avi’s insights and advice into the industry. Tune in now.

Episode Notes:

Start in Real Estate Business (1:10)
Rent Control & Rent Stabilization in NY (3:45)
Challenges in Multifamily Operations (10:20)
Cap Rate Data (13:28)
Rent Guidelines Board (17:48)
Office-to-Resi Conversions (24:30)
View on CRE Industry Today (27:46)
Role of Data, Technology & Innovation in the CRE Landscape (33:28)
Rent Collection Challenges & Fraud (35:00)
Election Implications for Housing (37:02)
Real Estate Insights & Advice (38:58)

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Questions or comments? Contact us at podcast@trepp.com.

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