Globe Street recently sat down for an exclusive interview with Brian Whitmer, head of Cushman & Wakefield’s Metropolitan Area Capital Markets Group. In the interview, Whitmer talks about the New Jersey multi-family market and urges developers to start transitioning from rental to condo projects.
A few years ago the only condo project under construction in New Jersey was in Edgewater. Since the recession, developers and banks have shied away from condo projects, instead opting for more stable rental projects.
Citing pent-up demand, short supply, and favorable pricing, Whitmer believes the condo market is finally back and developers should take advantage of these positive market conditions.
Read the full interview on Globe Street: Cushman’s Memo To NJ: Go Condo, Young Developer!