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SOURCE TGM Associates L.P.
NEW YORK, May 2, 2014 /PRNewswire/ -- TGM Associates is proud to announce the firm's Managing Principal and Chief Operating Officer, John Gochberg, spoke at The Condominium Development, Finance and Investment Forum held in Miami, FL on Thursday, April 24th. Mr. Gochberg participated in a panel discussion titled "Conversion /Reversion…Which Way Should We Go".
The panel focused on the real time decisions needing to be made today by converters and developers. As the panel agreed on the fact that reversions are no longer being done as it perceived that the cycle has bottomed out and will not return again until the next condo bubble bursts, they spent little to no time on the topic.
Additionally, as the real estate market continues to improve across the country, the panel discussed that condo bubbles are starting to percolate in markets such as South Florida, Boston, New York, D.C., San Francisco and downtown LA. In these markets condo converters are now purchasing or taking options on existing rental apartment complexes with the intention of converting them in the very near future, while developers are actually constructing condo communities.
The panel concluded with a discussion of the positives and negatives relating to the creation of condos by converting existing inventory versus developing new inventory.
"The panel was very well received by the audience. As a national apartment rental expert, it was wonderful to interact with condo converters & developers directly and to better understand their concerns and pressures which are similar and different than mine," said John Gochberg, Managing Principal and Chief Operating Officer, for TGM Associates, a SEC-registered real estate investment advisory firm based in New York City.
To learn more about TGM Associates please contact Michael Frazzetta, CFO
Phone: (212) 830-9336, E-mail: mfrazzetta@TGMAssociates.com
To learn more about TGM Communities please contact Arthur Kosmider, Director of Property Marketing
Phone: (212) 830-9348, E-mail: akosmider@TGMCommunities.com
TGM Associates, 650 Fifth Avenue, 28th Floor, New York, NY 10019-6149
About TGM Associates
Founded in 1991, TGM Associates is a SEC registered investment advisory firm with a single focus -- multifamily properties. TGM specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. TGM provides investment advisory services regarding the acquisition, management and sale of multifamily properties throughout the United States. An affiliate of TGM provides property management under the brand TGM Communities.
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