NEW YORK – February 5, 2020 – Arch Companies Managing Partner Jeffrey Simpson spoke at Anchin’s annual industry-leading forum Future Forward 2020: What’s Next for New York Real Estate and Construction on February 4 at the Sheraton New York Times Square Hotel. The half-day conference brought together leading real estate owners and developers, construction executives and other key business decision-makers to discuss the rapidly transforming New York City market. During the conference, Simpson spoke on the Trends in Multifamily Panel, which explored creative solutions to issues currently facing the market, such as the recent New York housing laws.
He was joined by Marc Wider, Partner and Co-Leader, Achin’s Real Estate Group; Matthew Baron, President, Simon Baron Development; James K. Lin, Associate Partner, Jaros, Baum & Bolles; Paul Massey, CEO, B6 Real Estate Advisors; and Joseph McMillan Jr., Chairman and CEO, DDG. Industry experts explored a range of topics highlighting successes in the market, as well as areas that need to be improved. One of the most central topics included the new rent regulations, which have had a resounding effect on all aspects of the market from developers all the way to occupants. Without incentives for parties to invest or renovate, many panel members agreed for a universal push to reinvent the law to reinvigorate the multifamily market. They are also seeing an incentive for new construction rather than buying existing buildings, among developers.
“Right now, multifamily buildings in New York City are valued at 40 to 50 percent of what they’re actually worth, which is lowering incentives for landlords and developers to redevelop,” said Simpson. “New rent regulations have had a resounding impact on the multifamily market, and it was helpful to discuss creative solutions alongside New York’s multifamily developers.”
The forum also featured keynote speaker Peter Riguardi, Chairman and President of Jones Lang LaSalle’s New York Tri-State Region, as well as panels of key players from across the industry. Panels included New Development Trends, Trends in Multifamily, P3 Partnerships and Design Build, as well as a breakout session focused on Project Management Services.
About Arch Companies
Arch Companies specializes in real estate investment, development, construction and asset management across the United States with a concentration on primary and secondary markets. Jeffrey Simpson and Jared Chassen founded Arch Companies on the premise that investment in real estate should be driven by sound market fundamentals, a flexible time horizon and strong alignment of interest between investors and managers. With more than 35 years of experience, Arch Companies has a strong track record of driving investment results. Arch Companies differentiates itself by providing hands-on real estate investment management, creative deal structuring, and transparent communication with partners.