10/14/2020
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2020 will be certainly reminded as an eventful year for the world, as well as for the metropolis of New York.
The city came to a halt in March 2020, when a viral agent started spreading among NYC and forced the local government to impose strict lockdown measures on the population, population that only now, after more than 6 months, is slowly being allowed to return to a “normal” life. It’s been more than 19 years since something so impactful happened to the city that never sleeps. You certainly remember what you were doing the morning of September 11, 2001 (I can’t, I wasn’t born yet, but I’ve read a lot on the events of that morning. Honor to all the first responders and average Joes who helped that day). But NY has recovered from 9/11, and will, in my opinion, recover from covid.
This pandemic-induced panic has sparkled an opportunity for savvy investors in publicly-traded NY multifamily real estate, better expressed through Clipper Realty, Inc. [CLPR].
Like Baron Rothschild famously said,
Buy when there’s blood on the streets.
This is a reasonable analysis. I'd like to know why you think CLPR is better poised than ESRT, SLG or TPHS, in the New York space. Also, any idea on what could actually move the NY REIT names, i.e. what are the people on the side waiting for to get in, according to you?
Thank you