It will soon be a year since the start of New Jersey’s COVID-19 outbreak, one that has rippled through the state’s apartment industry and left landlords with unease and uncertainty. In part one of a two-part column, New Jersey Apartment Association Executive Director David Brogan answers some of the biggest questions still facing the multifamily sector, including how owners of all sizes are dealing with nonpayment of rent and the ongoing eviction moratorium, along with the prospect of state and federal rental assistance.
Tenant interest in ‘hub-and-spoke’ model brings added focus to state’s new-look office stock
A growing number of New York City-based firms have considered short-term office space in the suburbs, in an effort to reduce density, keep employees closer to home and reduce their reliance on mass transit. The movement has provided landlords and brokers with a chance to showcase New Jersey’s growing stock of revamped and rejuvenated office buildings.
Sanzari drawing on 75 years of stability, relationships to guide tenants through crisis
Like other landlords, Alfred Sanzari Enterprises has spent months with its buildings mostly empty as businesses cope with the effects of the pandemic. But the family-owned firm has weathered the crisis and helped its tenants do the same thanks to its own financial strength and ability to act quickly, which stem from a patient, low-leverage approach that goes back 75 years.
Brogan: Apartment owners still facing economic, legislative concerns as health crisis continues
With New Jersey’s coronavirus crisis entering its seventh month, the state’s apartment industry still faces a long list of challenges amid legislative efforts to address the economic fallout. Real Estate NJ connected with David Brogan, the executive director of the New Jersey Apartment Association, who weighed in on everything from rent collections to state and federal policy proposals that he believes would have dire financial consequences for landlords.
