NEW YORK CITY- Paul Massey, CEO of real estate advisory firm B6 Real Estate Advisors, is advising clients to wait 60 days on making all major decisions as it pertains to their portfolios. The market has been sent into a frenzy over the coronavirus, causing fear and uncertainty amid the ambiguous economic landscape.
To ease concerns and bring clarity to the current times, Massey and the B6 team are communicating, often via virtual video calls, to clients regularly, and keeping such things as its charity outreach in Brooklyn, called Brokers United that B6′s DJ Johnston leads, on their radars. “It’s important to show them that we are all in this together and are doing our part to support them and the community,” Massey said.
The Brooklyn Brokers United campaign, dubbed “Helping Brooklyn – COVID-19,” has raised close to 84 percent of its $20,000 goal in the past two weeks, bringing in a total of $16,971 in current donations.
The funds will help support three non-profit organizations that cater to Brooklyn residents, including The Campaign Against Hunger, Opportunities for a Better Tomorrow, an economic opportunity program, and the soup kitchen and shelter CHIPS.
In regards to the $2 trillion stimulus package Congress recently passed, Massey said it is much-needed aid for many people. As it pertains to commercial real estate, firms, tenants, landlords, should be provided virus-related coverage insurance for the widespread business interruption the coronavirus has caused, he said. It would offer a certain peace of mind during this difficult time as some tenants struggle to pay rent and other expenses.