AmTrust Title Holds Fourth Annual Summit Focused On New York City Residential Real Estate

7/26/18


(L-R): Robert Smith, attorney at law; Daniel Gershburg, Romer Debbas, LLP; Ben Brash Amirian Group; Lior Aldad, Esq., Aldad and Associates, P.C.; and Jordan Shea, Douglas Elliman.

An audience of more than 175 attended AmTrust Title Insurance Company’s fourth annual summit on July 24th, featuring two panels of professionals discussing the current residential real estate market in New York City. The event was held at the CUNY Graduate Center, 365 Fifth Avenue.

“NYC Current Trends in the Residential Market, Outlook for 2019,” moderated by Kim J. Kirk of Fried Frank Harris Shriver & Jacobson, included panelists Howard Morrell, Engel and Volkers; Jacques Cohen, Compass; and Matthew Stenta, Popular Bank.

"Issues Facing NYC’s Residential Market and More,” moderated by Jordan Shea, Douglas Elliman included Lior Aldad, Esq., Aldad & Associates; Robert J. Smith, Attorney at Law; Ben Brash, Amirian Group; and Daniel Gershburg, Romer Debbas, LLP.

A plethora of ideas and perspectives were discussed, some of the highlights included:

- Brooklyn is clearly NYC’s ‘hippest’ neighborhood, making locations such as Murray Hill, the Upper East Side and Sutton Place suddenly ‘affordable’;

- Absorption is happening more slowly at the luxury end of the market than in moderately priced buildings;

- Supply and demand, the basic fundamental, characterizes today’s residential real estate market, and we are oversupplied at the luxury level;

- It’s a buyers’ market, concessions are being made by developers on the backend, the front end, and ultimately if necessary, in reduced pricing;

- There is less foreign investment in luxury developments than in the past, in part due to the Treasury Department’s demand for transparency in identifying purchasers.

About AmTrust Title Insurance Company

AmTrust Title is a wholly-owned subsidiary of AmTrust Financial Services, Inc., a Fortune 500 multi-national insurer, offering specialty property and casualty insurance products, including workers' compensation, commercial automobile, general liability and extended service and warranty coverage. AmTrust Group of Insurance carriers are rated “A” (Excellent), FSC “XV” by A.M. Best Company, and AmTrust Title is rated “A-“(Excellent) by A.M. Best Company and A’, (Unsurpassed) by Demotech, Inc. AmTrust Title is headquartered and domiciled in New York, New York, and is licensed in thirty-eight states. For AmTrust Title, this combination of strong financial backing and advanced technology translates into immediate strength for real estate clients.

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