Cignature in The News – "Why NYC Apartment Buildings Are On Sale Now For 50% Off"

February 5, 2024 – Financial Advisor

By Patrick Clark, Prashant Gopal

... amid concern over real estate exposure, shares of New York Community Bancorp Inc.—which holds about $37 billion in apartment loans, half backed by rent-regulated units—dropped 38% in a single day. “A lot of owners I’m speaking with want to walk away from buildings,” says Lazer Sternhell, chief executive officer of Cignature Realty Associates Inc. in the city.

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