After detecting a decline in landlords looking to compensate tenants for abandoning their rent-regulated leases, Robert Sedaghatpour launched a new venture earlier this year aimed at working with residents pursuing such buyouts.
Sedaghatpour estimated the number of buyouts in Manhattan and the more expensive parts of Brooklyn fell 60 percent from the end of 2017 to the end of 2018. He said the environment has shifted to favor tenant-pitched transactions.
“The reason we’ve started Metro Tenant Advisors is we’re seeing, with the increase in regulation, that it’s more prone to initiate . . . from the tenants’ side,” Sedaghatpour said. “It’s much easier to navigate than a landlord approaching a building, building-wide, and unnecessarily disturbing some tenants.”
“We believe there is an underserved niche in representing tenants who want and may benefit from a lease buyout,” he explains. “Because of our extensive history advising landlords on how to work with their tenants, we have a strong grasp of the market and are uniquely versed in the needs of both sides.”Read More
A team of real estate veterans has launched a firm to represent being offered buyouts. Metro Tenant Advisors (MTA) will negotiate on behalf of rent regulated tenants, occupants in foreclosure and commercial tenants to achieve the highest and best terms on a buyout.Read More