The subtitle is Secret Strategies for New York City Multifamily Investing and the author is Peter Von Der Ahe (2010).
As part of my professional transition, I am spending more time thinking about NYC real estate than I have in recent years. And while this book doesn't offer a ton of new information if you have experience in the industry, it does spend some time on the rent regulation laws which comprise a large part of what makes this market both unique and tricky. The insight, for lack of a better word, was not something terribly novel, although it was not something that I had thought about either. Regulated apartments are arguably a hedge in bad times. Given that they operate at below market rents, even if the economy were to suffer a downturn, cash flow for these units should be immune. And while I'm not looking to get into the affordable apartment game, the presence of these apartments should not be a deal killer either.
