Rising rents and increasing interest rates are not deterring the New York City apartment market.
Adam Schwartz, senior managing director, Walker Dunlop, tells GlobeSt.com that he continues to see strength in the NYC multifamily market, marked by no concessions on deals.
"There is a lot of appetite from lenders on both existing stock and ground-up development," Schwartz said. "Rates are out a little bit with the community banks, but everyone is lending. So, we expect to finance several billion dollars of multifamily this year in NYC."
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