Jonathan Woloshin of UBS discusses the significant impact these reforms could have on the multifamily investment business in New York and the rest of the country.
Jonathan Woloshin of UBS Wealth Management. Image courtesy of UBS
Ever since New York State Governor Andrew Cuomo signed into law a sweeping set of rent reforms that overwhelmingly favors residents, multifamily owners in the Empire State have been tearing their hair out while the rest of the industry has been scratching their heads quizzically. Will multifamily real estate investors redirect their investments into other property types? Will they take their multifamily investment models to other states? And how can the state preserve and create more affordable housing when it appears to be disincentivizing the very professionals that can help them solve the housing shortage?
Matrix Vice President Jeff Adler posed these and other questions to Jonathan Woloshin, head of Americas Real Estate Investment Strategy at UBS Global Wealth Management’s Chief Investment Office.
