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New York City’s multifamily market is under pressure. But is it also presenting the best buying opportunity in years?

In this episode of Broker Brunch, Brian Whelan sits down with Peter Hungerford (PH Realty Capital) and legendary broker Bob Knakal (BKREA) for a hard-hitting discussion on the future of NYC real estate.

Peter and Bob break down why landlords are so unhappy right now, from soaring property taxes and insurance costs to the impact of the 2019 rent laws and the expiration of 421a. They explain how political decisions have created an unsustainable housing system, why banks are reluctant to foreclose, and why “the boxes of paperwork” now matter more than the building itself.

If you’re a multifamily investor, broker, or real estate professional navigating today’s market, this is a must-watch conversation packed with insights on policy, deal-making, and long-term opportunities.


Connect with us on LinkedIn
Brian Whelan: https://www.linkedin.com/in/brian-whelan-43155850/
Mitchel Flaherty: https://www.linkedin.com/in/mitchel-flaherty-7b4b1064/


(01:07) NYC Housing Crisis
(03:37) Why Landlords Are So Unhappy in NYC
(09:03) Can NYC Be Saved? The Political Pendulum
(13:38) The Narrative Against Developers & Capitalism
(17:00) Lessons from 9/11 Recovery
(20:15) Bob’s 41 Years & Top 5 Memorable Deals
(25:38) The Role of Banks in Driving Transactions
(28:24) Why Banks Need Collateral Beyond the Building
(30:49) Broker Strategies: Pre-Screening Rents & Paperwork
(33:37) How Peter Chooses Deals in Today’s Market
(36:07) Product Sectors Moving in Different Directions
(39:09) The Mayoral Election & What It Means for NYC Housing