🌊 Federal layoffs flood D.C. housing market with new listings
🏡 Mobile home flipping thrives as affordable housing demand soars in US
🎨 Midtown office tower set for residential makeover
📚 Looking to sharpen your real estate modeling skills?

Data Viz of the Week: Multifamily Stays Hot

AFIRE's March poll of 180 institutional investors representing $3 trillion in AUM is out, and the results are here: multifamily remains hot while investors continue their pullback from office and hospitality.

But most notably? Niches continue their march, with single-family rental and the "other" category—which includes data centers—seeing the largest number of investors planning to introduce the strategy for the first time in 2025.

Upcoming Thesis Driven Courses & Classes

Are you a real estate executive that needs to brush on financial modeling? Our newest course, Fundamentals of Underwriting, provides a practical, hands-on program with interactive models, real-world case studies, and both Excel-based and AI-powered tools you’ll actually use.

We built it with an expert, Jay Dunn, who has underwritten and acquired billions of dollars of multifamily, industrial and office deals (and, more importantly, has trained legions of analysts from his investment banking days at Morgan Stanley and Gleacher & Company) across his 20-year career.

The course launches online on May 5th. Sign up here.

All Upcoming Courses

• May 5 Fundamentals of Capital Raising (💻 Online): Insider’s guide to raising capital for real estate projects & platforms–from individuals, family offices and institutional investors - Sign up

• May 5: Fundamentals of Real Estate Entrepreneurship (💻 Online): A first-person POV simulation for aspiring RE entrepreneurs to learn to source, underwrite and finance a local real estate project - Sign up

• May 12: Fundamentals of CRE (💻 Online): A bootcamp providing an insider’s view of “a day in the life” of key industry stakeholders, with real-world insights and applications - Sign up

• May 19: Selling Into Real Estate Owners (💻 Online): A bootcamp for people selling technology and products into the real estate industry - Sign up

Three Articles We Loved from Last Week

It’s not easy keeping up with everything. Here are three articles (+1 bonus) we loved from the past week that you may have missed:

1. (NY Post) Washington, D.C. Home Inventory Surges Following Federal Layoffs

   Significant federal job cuts under the Trump administration have led to a nearly 47% increase in home listings in the Washington, D.C. area compared to the previous year. Over 6,000 new listings and 5,000 pending contracts were recorded in March, signaling a shift in the housing market dynamics of the region.

2. (Business Insider) Demand is through the roof’: inside America’s trailer park boom

   Flipping mobile homes has become a booming investment strategy amid the U.S. housing crisis. The low entry cost attracts diverse investors, with mobile homes serving as the largest source of affordable, unsubsidized housing in the U.S. Demand has surged due to rising housing costs, with shipments of manufactured homes increasing over 60% between 2014 and 2024.

3. (NY Post) East 42nd Street office building to be converted to apartments

   Investor David Werner acquired the 18-story office and retail building at 300 E. 42nd St. in Midtown Manhattan for $52 million—less than half its 2019 sale price. Plans are underway to convert over 93,000 square feet into 135 rental apartments, retaining 90,000 square feet for existing office tenants. The project, backed by a $45 million pre-development loan from Northwind Group, may benefit from a 467-m tax abatement by designating 20% of units as affordable housing.

Developer of the Week: City Ventures

The all-electric housing boom continues.

Developer City Ventures is proposing to build 143 for-sale solar-powered, all-electric townhomes in Santa Clara, California. While the project isn't a done deal - it requires a rezoning - it's indicative of where housing development is headed from an energy standpoint.

You can read more about City Ventures on the Thesis Driven GP database here.

Know about a developer doing something cool that we should feature? Reach out to [email protected] with the tip!

—Brad and Paul