Bisnow
GFI Realty Services president Michael Weiser (right, with Rittenhouse Realty Advisors’ Ken Wellar and Steve Cox) illustrated Brooklyn’s greater prominence: Back in 2008, a DC-based private equity firm asked him what Brooklyn’s demand generators were. Now, the idea that anyone anywhere in the US needs to be educated on Brooklyn’s popularity is amusing (thanks HBO), and Michael says even institutional buyers are buying eight-unit buildings in Brooklyn. And Doug says rents for Class-B walk-ups in Manhattan have topped out for now as those renters will go for higher-quality new construction in the boroughs.
