3/23/2023: Episode 71 - Fed Raises Rates .25% at March Meeting featuring Matthew Dzbanek

03/23/23 • 5 min

Shimon Shkury, President and Founder of Ariel Property Advisors, and Matt Dzbanek, Senior Director of Capital Services, discuss what borrowers can expect moving forward in the wake of the Fed’s latest rate hike and recent turmoil in the banking sector.
At its March, the Federal Reserve unanimously voted to raise rates another quarter percentage point, bringing the target range for the federal funds rate to between 4.75% and 5.00%. The central bank also reiterated its commitment to reduce inflation from the February annual rate of 6% to 2%. In the last year, the Fed has hiked interest rates by 4.75% while at the same time significantly reducing the size of its balance sheet.

Previous Episode

3/9/2023: Episode 70 - 2022 Queens Year-End Commercial Real Estate Trends featuring Michael Tortorici and Alexander Taic

In this episode of Coffee & Cap Rates, Shimon Shkury, President and Founder of Ariel Property Advisors, discusses trends in the Queens investment sales market with Founding Partner Michael Tortorici and Director Alexander Taic. Ariel Property Advisors' Queens 2022 Year-End Commercial Real Estate Trends report showed that Queens had a record-breaking year in 2022, with the most transactions on record in addition to surpassing the $4 billion mark in dollar volume for the first time since 2018 and the fourth time overall (2015, 2016 & 2018 previously). Of note, industrial property sales in Queens totaled $850.3 million, which was roughly one third of the industrial sales citywide last year.

Next Episode

4/27/2023: Episode 72 - Free Market Buildings Power NYC Multifamily Sales in Q1 2023 featuring Victor Sozio

On his latest podcast, Shimon Shkury, President and Founder of Ariel Property Advisors, welcomes Ariel Partner Victor Sozio and explores first quarter trends in the multifamily market. Dollar volume totaled $2.11 billion in Q1 2023, a 39% drop year-over-year, and predominantly free market buildings accounted for 78% of the sales. Headwinds discussed include bank closures, which are causing a credit crunch, rising operating costs for rental buildings and the failure of Albany to pass key legislation that would help alleviate NYC’s housing shortage. For more information about the multifamily market, see Ariel’s Q1 2023 Multifamily Quarter in Review New York City.