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Dylan Walsh

Executive Director at Cushman & Wakefield

Dylan Walsh is a seasoned professional with a background in Business Administration and a minor in Marketing from Saint Michael's College. He also delved into International Business during his time at Lorenzo De' Medici and attended Dover Sherborn Regional High School. Dylan's educational journey reflects his commitment to a well-rounded business education, culminating in a semester abroad experience in Florence, Italy in 2011.

Currently, Dylan Walsh is a respected figure in the investment sales sector in New York City, focusing primarily on multifamily properties, mixed-use developments, and building sites. With a wealth of experience at reputable organizations, including Cushman & Wakefield, Marcus & Millichap, Airbnb, and Rosewood Realty Group, Dylan has honed his expertise in the real estate market. His roles have ranged from Executive Director to Investment Sales Advisor, showcasing his versatility and strong foundation in capital markets, marketing, and sales.

Highlights

May 9 · linkedin

Interesting analytics from this recent StreetEasy article shed light on the NYC housing crisis. According to the report, while wages only rose by 1.2% from 2022 to 2023, rents skyrocketed at more than seven times that rate.

However, there is some good news on the horizon! The 485x was recently passed, which should spur more development, and with the City of Yes program's high likelihood of passing, 2025 is looking even more promising. #nyc #nycrents #development

Apr 23 · linkedin

The Real Deal reported the below on the recently passed deal regarding the rent stabilized housing stock and how to improve apartments. Currently there are tens of thousands and likely many more warehoused apartments costing both the owners and consumers much needed apartment stock.

The new law won't likely change this warehouse concept much and we will continue to see this specific vacancy grow. Even just the last paragraph from Jay Martin at CHIP would be a significant step in the right direction to overcome this issue.

"Under the previous law, 1/40 of the cost of an apartment upgrade could be permanently added to the rent, and there was no limit to how much a landlord could spend. The 2019 law capped recoverable costs at $15,000 over 15 years, and limited the rent increase to 1/168 of the repair costs for smaller buildings and 1/180 for larger ones.

  • The new bill moves the numbers a bit in the direction of the old law. -Apartment repairs eligible for rent bumps are limited to $30,000 over 15 years, with the rent increasing by 1/180 of the cost for buildings with more than 35 units and 1/168 for smaller buildings. Increases will be permanent and amount to $166 or $179 per month. -The cost of repairs can go up to $50,000 if a unit were continuously occupied for 25 years or registered as vacant in 2022, 2023 and 2024. In those cases, owners of buildings with fewer than 35 units can hike the improved unit’s rent by 1/144 of $50,000, or $347 per month. In buildings with more than 35 units, the increase can be 1/156 of the renovation cost.

The takeaway: The Rent Stabilization Association and Community Housing Improvement Program said the changes are not enough help for owners of distressed stabilized properties. Tenant groups described them as a dangerous rollback of the 2019 rent law.

CHIP had pushed for a separate measure to let landlords reset rents once on vacant stabilized apartments that had been occupied continuously for 10 or more years. The apartments would remain regulated. The bill has not come close to passing."

Dylan Walsh
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Location

New York, New York, United States