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New York City developers and investors are seeing an uptick in bulk condo deals, thanks to an already soft market and coronavirus-related distress. (iStock)
Danny Fishman cannot keep up with the demand.
Danny Fishman, Gaia Real Estate
The investor, who leads Gaia Real Estate, is contending with a deluge of pitches from developers hoping to sell him condo units in bulk. He said the missives began picking up last year but recently have been coming in at such velocity that he hardly has time to look at them.
“I would easily say at least 50 percent of new [condo] construction in the city is talking about bulk [sales],” Fishman said.