Publications

Since 2006, UNHP has held annual roundtable meetings to share multifamily affordable housing data with lenders about buildings in their portfolios. On Wednesday, August 5th, we held our 20th annual roundtable meeting, sharing important sales and distress updates with lenders and discussing the current state of operating affordable housing. The meeting was attended by over 50 individuals representing 16 multifamily lenders. The Building Indicator Project is a database developed by UNHP to identify NYC multifamily properties in physical and/or financial distress. In its current form, BIP has aggregated more than a decade of data for all 70,000+ rental buildings in NYC, tracking more than 120 data points for each building. BIP employs a scoring system, developed in collaboration with financial institutions, advocates, property managers, and researchers, to identify buildings likely or highly likely to be in distress.

UNHP’s Data Analyst, Ana Peña, started off the meeting by covering 2026 sales data by borough. Over the past few years, we have recorded a general downward trend in total sales volume for multifamily properties across the Bronx, Brooklyn, Queens, and Upper Manhattan. However, between 2024 and 2025, sales volume increased in both the Bronx and Queens. Zooming into the Bronx specifically, the data show that the median price per unit in the Bronx has decreased significantly from its peak at $175K in 2018 to $96K in 2025.

Director of Real Estate, Brendan Mitchell, shared insights into the financial burdens that multifamily property operators face. In particular, he highlighted skyrocketing insurance and water and utility costs that contribute to this financial distress. In 2019, UNHP’s per-unit insurance cost was just under $800 per unit and has since risen to nearly $2,000 per unit today. Additionally, he highlighted UNHP’s role in advocating for affordable water and sewer rates and expressed support for the City’s plans to revamp the Multifamily Water Assistance Program.

UNHP was also joined by HPD Commissioner Dina Levy, who shared the City’s plans to enhance preservation efforts and improve affordability.

See the downloadable files for UNHP’s Multifamily Lending Presentation and HPD’s Preservation Efforts Presentation from 8.5.2026.