With increased demand from Millennials entering the market, the continued downsizing of Baby Boomers and increased cost of real estate development, demand for New York Metro area apartments are at all-time highs. Preferences have translated into demand for semi-urban living with strong transportation links and downtown walkability, appropriate for smaller households.
HH has a proven track record of acquiring well-located, under invested multi-family properties within short commuting distances of New York City. The acquired assets are repositioned for value maximization, carefully balancing renovation budgets and market rent increases.
While the Baby Boomer generation may be aging and moving towards retirement, they are doing so at a later age and are in better health than previous generations. They are also, however, downsizing to more affordable options. These characteristics have resulted in increased demand for condo and rental housing that allows for an active lifestyle, and proximity to downtowns and transportation.
HH is focused on acquiring development opportunities that speak to these trends, providing the right mix of independence and convenience.
HH has also targeted specialized commercial opportunities such as convenience retail centers and the medical office sector, focusing on specialized properties that are differentiated from typical suburban offices. The sector has proven to be resilient, stable, and highly in-demand.
There are several key reasons why demand for specialized commercial properties, especially medical office will continue to increase: