Jacob Frydman – Recaps the New York City’s History of Zoning

The first state in the country to enact zoning laws is New York, which set a precedence for protecting property values, reducing congestion, and making businesses more productive and safe. The Big Apple was proactive when it came to implementing rules and regulations for building restrictions, adjusting the accepted methods to prevent future degradation caused by poor planning. Native to New York, Jacob Frydman is an expert in current real estate, and appreciates the steps taken by predecessors to protect architectural integrity and urban development. What might have initiated the need for zoning regulation in New York, may have been the enormous Equitable Building, a 40-story apartment building capable of housing 16,000. This massive structure was built on an entire city block and diminished the availability of sunshine to residents in the area. The large number of people using the building caused heavy traffic and other difficulties. Consequently, the mayor, John Purroy Mitchel along with a committee of members commissioned laws that would eventually be issued by the U.S. Department of Commerce as The Standard State Zoning Enabling Act in 1924. This standard was accepted nationwide without changes.

 

Jacob Frydman notes that the history of zoning laws in New York is more complex than just one building. In the early 1900’s, the city was experiencing major growth. A speculative boom along the route of the new privately built subway was producing issues of congestion, blocking light and air and causing serious fire and safety hazards. A Manhattan politician, George McAneny wrote in 1913; “The time has come when efforts should be made to regulate the height, size and arrangement of buildings.” From there, a committee established the 1916 Zoning Resolution that put in place strict criteria with a height requirement that could not exceed the width of the road in front of the structure. The law also made clear distinction of specific areas to prevent factories and industry from encroaching upon retail districts. The initial laws remained unchanged until 1961 when additions were made to adjust for current conditions. The results are staggering. In 1910, the population of Manhattan was more than 2.3 million people, by 2010 that number was reduced to less than 1.6 million, the subsequent deduction is directly related to the zoning resolution.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman – Recaps the New York City’s History of Zoning

The first state in the country to enact zoning laws is New York, which set a precedence for protecting property values, reducing congestion, and making businesses more productive and safe. The Big Apple was proactive when it came to implementing rules and regulations for building restrictions, adjusting the accepted methods to prevent future degradation caused by poor planning. Native to New York, Jacob Frydman is an expert in current real estate, and appreciates the steps taken by predecessors to protect architectural integrity and urban development. What might have initiated the need for zoning regulation in New York, may have been the enormous Equitable Building, a 40-story apartment building capable of housing 16,000. This massive structure was built on an entire city block and diminished the availability of sunshine to residents in the area. The large number of people using the building caused heavy traffic and other difficulties. Consequently, the mayor, John Purroy Mitchel along with a committee of members commissioned laws that would eventually be issued by the U.S. Department of Commerce as The Standard State Zoning Enabling Act in 1924. This standard was accepted nationwide without changes.

Jacob Frydman notes that the history of zoning laws in New York is more complex than just one building. In the early 1900’s, the city was experiencing major growth. A speculative boom along the route of the new privately built subway was producing issues of congestion, blocking light and air and causing serious fire and safety hazards. A Manhattan politician, George McAneny wrote in 1913; “The time has come when efforts should be made to regulate the height, size and arrangement of buildings.” From there, a committee established the 1916 Zoning Resolution that put in place strict criteria with a height requirement that could not exceed the width of the road in front of the structure. The law also made clear distinction of specific areas to prevent factories and industry from encroaching upon retail districts. The initial laws remained unchanged until 1961 when additions were made to adjust for current conditions. The results are staggering. In 1910, the population of Manhattan was more than 2.3 million people, by 2010 that number was reduced to less than 1.6 million, the subsequent deduction is directly related to the zoning resolution.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman Highlights New Development Sales Projection for New York City in 2018

Jacob Frydman has become one of the nation’s top analysts of real estate trends in both the New York City and throughout the country. The property expert has recently offered his deeply knowledgeable response to CityRealty’s projection that condominium sales at new developments in Manhattan will exceed $10 billion by 2018. Recognized as a thought-leader in his field, Frydman has been a guest lecturer on real estate finance at Columbia University and in the Master’s Lecturer series sponsored by New York Law School, and has been interviewed numerous times on Bloomberg TV, Fox Business News, CNBC and other television networks.

Few if any are better positioned than Jacob Frydman to analyze expectations in the real estate market.  An expert in various segments of the industry — including industrial properties, hotels, and retail space as well as residential units — he addressed the value of condominiums during his guest appearance on Fox Business News on Nov. 4, 2014.  “Things you live in might not be an investment,” Frydman said.  “But if you’re thinking about it as an investment, condos fell less as a percentage than houses from the top of the market to the trough in 2009, and have recovered faster from the trough of the market in 2009 to today, by between 6 and 10 percent in major cities. …it might surprise most Americans, but buying a condo actually was a better investment play than buying a house.”

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman – Examines Potential for Real Estate Investors in the Wake of Inflation Protected Renting

Jacob Frydman has repeatedly warned that an inflationary period in the real estate market is inevitable, at least in part due to rising interest rates. Rates have remained low for quite some time, aided by the Federal Reserve, but are slated to rise and bring property values up. However, Frydman points out that the market is by its very nature cyclical and provides tremendous opportunity even with expected downturns. “What’s ultimately going to happen is an inflationary cycle not unlike what we were experiencing in the late 70’s and early 80’s,” he told an interviewer at Real Estate Finance Intelligence TV. With this in mind, Frydman advises potential investors to purchase properties while the costs are still relatively low and strengthen their asset values during the transition period from one cycle into the next until the market reaches a new high again. Frydman predicts this next peak to take place by the end of this decade.

Jacob Frydman has over 30 years of experience in structuring, financing, and executing highly complex real estate transactions. He is credited with acquiring over five million square feet of existing and to-be-developed holdings located on the east coast of the United States, and has participated in property transactions valued at over $2 billion. Frydman was the CEO and Chairman of First Capital Real Estate Trust, a public Real Estate Investment Trust, and continued on as Chief Investment officer after his retirement in September 2015.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman