NEW YORK CITY-Asset managers are packing on community-oriented amenities to compete for and retain tenants in their multifamily properties. This phenomenon has become an amenities arms race as landlords throw a kitchen sink of offerings at prospective tenants. However, what is capturing the crowd is the desire for belonging, according to panelists at the NYU Schack Institute of Real Estate’s Third National Symposium of Women in Real Estate.
“We have an amenity war occurring, that to attract tenants it’s ‘what can you do for me lately,’” said panel moderator Sherry Rexroad, managing director and senior product strategist at Blackrock.