Coffee & Cap Rates: Commercial Real Estate Podcast

123. Bronx CRE 2025: Rising Development & Multifamily Opportunities featuring Jason M. Gold & Daniel Mahfar

In the latest Coffee & Cap Rates podcast, Shimon Shkury, President and Founder of Ariel Property Advisors, Jason Gold, Senior Director, and Daniel Mahfar, Director, discuss multifamily and development market trends in the Bronx as reported in Ariel’s Bronx 2025 Year-End Commercial Real Estate Trends report.Highlights from the podcast and report include:The Bronx real estate market reached $1.8 billion in 2025, a 46% year-over-year increase, with multifamily dollar volume rising 66% and development up 26%.The average price per unit for multifamily units hit a 7-year low of $105,000, influenced by high interest rates, increased expenses, including insurance and taxes, and anticipated rent freezes for stabilized buildings.Multifamily pricing is expected to remain at a decade-plus low, attracting local owners seeking a low basis relative to the rest of the country.Development activity is forecast to continue an upward trend due to investors’ increased familiarity with the 485x tax abatement and "City of Yes" regulations.

122. Manhattan CRE 2025: Investment Sales, Development Momentum & Market Outlook featuring Michael A. Tortorici, Christoffer Brodhead & Howard Raber

Shimon Shkury, President and Founder of Ariel Property Advisors; Michael A. Tortorici, Founding Partner; Christoffer Brodhead, Senior Director; and Howard Raber, Director, take a deep dive into Manhattan’s investment sales market on this episode of Coffee & Cap Rates. They discussed trends in Ariel Property Advisors’ Manhattan 2025 Year-End Commercial Real Estate Trends report and what to expect in 2026.Highlights from the podcast include:Manhattan’s transactional dollar volume reached $22.77 billion in 2025, signaling strong investor confidence and positive growth trends across development, multifamily and office sectors.Driven by limited inventory and a high-performing condo market, development site sales totaled nearly $4 billion with pricing jumping 11% to $468 per buildable square foot—the highest level recorded since 2021.Accounting for 50% of Manhattan’s total dollar volume ($11.3 billion), the office market was fueled by high-value Class A transactions and a growing trend of Class B and C assets being repositioned for residential or boutique office use.Investors showed a clear preference for free market multifamily properties, which represented 84% of total multifamily dollar volume, as investors looked to capitalize on free market assets currently trading 18% below their 2017 peaks.

121. Brooklyn CRE 2025: Sales Trends, Development Growth & Market Insights featuring Sean R. Kelly & Stephen Vorvolakos

Shimon Shkury, President and Founder of Ariel Property Advisors, Sean R. Kelly, Esq., Partner, and Stephen Vorvolakos, Director, discuss trends in Brooklyn’s commercial real estate market and the findings of Ariel Property Advisors’ Brooklyn 2025 Year-End Commercial Real Estate Trends report.Highlights from the report include:Brooklyn closed 2025 with $6.66 billion in total commercial real estate sales across 951 transactions, reflecting an 8% decline in dollar volume and 2% increase in transactions compared to 2024.The development market rallied in 2025 with 172 transactions totaling $1.8 billion, an increase of 25% and 41%, respectively, compared to 2024.Multifamily dollar volume dipped 3% year over year to $3.47 billion while transactions rose 7% to 582.Brooklyn retail saw 76 transactions totaling $523 million, representing decreases of 10% and 17%, respectively, compared to 2024. Boroughwide, transaction activity was largely driven by smaller, mom-and-pop retail sales.

120. NYC Multifamily 2025: Valuations, Policy Pressure & Liquidity Ahead featuring Victor Sozio & Matt Swerdlow

Shimon Shkury, President and Founder of Ariel Property Advisors, Victor Sozio, Founding Partner, and Matt Swerdlow, Senior Director in the Capital Services Group, discuss New York City’s multifamily market and the findings of Ariel Property Advisors’ Multifamily Year In Review New York City 2025.Highlights include:Total dollar volume was relatively unchanged year-over-year, totaling $8.91 billion in 2025 compared to $9.1 billion in 2024.Free market buildings led multifamily sales citywide, accounting for 66% of dollar volume and 48% of transactions. Rent stabilized assets followed in deal frequency (47%) but trailed in value (20%), while affordable housing rounded out the market with 13% of the volume and 6% of transactions.Capital rewarded free-market housing with rising valuations, affordable housing remained active through strong public-private alignment and rent-stabilized assets traded at steep discounts as NOI eroded under policy and cost pressures.The rent-stabilized sector continued to grapple with regulations, rising costs and mortgage maturities at higher rates. Many banks are focusing on free market transactions, office transactions, retail transactions, and assets that aren’t regulated.The multifamily market will see increased liquidity in 2026 as Fannie Mae and Freddie Mac will each have $88 billion to lend for a total of $176 billion.

119. Celebrating 15 Years of Ariel Property Advisors in CRE with Shimon Shkury & Roxanne Donovan

To celebrate 15 years of Ariel Property Advisors, President & Founder Shimon Shkury sits down with Roxanne Donovan, President of Great Ink, for an exclusive conversation about the firm’s journey in New York City’s commercial real estate market.From its founding in 2011 to growing into a 65-person team united by shared values and collaboration, Ariel has evaluated, sold, and financed billions of dollars of real estate in NYC while arranging financing for clients nationwide.Listen to the episode to hear reflections on the past 15 years, the story of Ariel’s growth, its core values, the advisory-first approach, and more!For more information about Ariel’s accomplishments, read the 2025 Annual Report.