What comes to mind when you think about real estate investing, asks Brad Zackson, co-founder and director of development for full-service real estate firm Dynamic Star? Your house is undoubtedly one, but there are several other sorts of real estate investments available—and not all of them include structures. Let’s take a look at some of the most popular real estate possibilities and why Zackson thinks they’re appropriate for you:
House Prices in the Past
Housing prices have typically grown over time, making it a good investment. Yet, as the COVID-19 epidemic overtook the country in the spring of 2020, several housing markets in the United States took a little knock. Yet, as consumers restored trust in their surroundings, housing values have hit new highs this year.
Brad Zackson is a prominent person in New York City real estate development, financing, and management. Zackson is well-known for his innovative approach to real estate development and his uncanny ability to identify possibilities and predict future trends. Zackson began his career as the exclusive broker and manager for the first Trump Organization’s Fred Trump, where he oversaw and supervised over 45,000 residential units in the New York region.
Zackson was recently instrumental in the acquisition of three large property assemblages in Long Island City, New York. The first building, 23-10 Queens Plaza South, has been converted into a 44-story rental skyscraper with 391 units with plans for further commercial development. The second project, dubbed as the “Clock Tower Building,” was a creative assembly of two nearby sites held by separate owners, as well as the hurried purchase of MTA air rights to produce a 1 million developable square foot site with a 15-year 421a and no affordable component necessary. Zackson coordinated the purchases, zoning lot merging, and other essential “paper” development components that allowed this deal to conclude before the initial 421a deadline.
The third property was acquired through an off-market transaction and cordial discussion with a non-seller. Zackson was able to meet the seller’s demands by agreeing to a sale leaseback and the seller agreed to enable Zackson to complete the necessary work to get a 421a Tax Abatement under the statutes that were extended six months over the deadline. With an upcoming up-zoning in the neighborhood, Zackson’s concept has resulted in a large value boost.
Zackson, a New York City native, is involved in civic and political circles in the city. He has served on the boards of various organizations, including the Central Park Conservancy, New York CARES, the Association of Builders and Owners (ABO), and the Jewish Museum of New York. Zackson was awarded the Ellis Island Medal of Valor.