More Long Island Apartments Needed to Capitalize on Shift to Suburbs: CO Panel

“Overall, there is a significant demand in just about every strata of apartments right now,” TRITEC Company Principal Robert Coughlan said during the second panel, “The State of the MFH Market: How Residential Growth is Driving Long Island’s CRE Boom,” moderated by Berdon LLP Principal Nicole Barthelemy. “What we are seeing most demand for in our portfolio is in the transit-oriented projects and walkable communities.

Coughlan noted that multifamily comprises only about 18 to 20 percent of Long Island’s housing stock compared to the national average of around 35 percent. In nearby Westchester County and Northern New Jersey, multifamily housing levels are closer to 40 percent of the housing stock.

Read the full story in the Commercial Observer.