2026 Mid-Year Review: Lydia Chesnick, Bernkopf Goodman

What projects, initiatives, or types of work have been keeping your team busiest during the first half of 2026?
We are seeing a robust appetite for buying and selling multifamily properties. Demand remains strong, with limited inventory continuing to drive significant property values. We have been handling an increasing number of leases and lease modifications, as clients continue to adapt to changing market conditions and reevaluate their space needs. We have also seen a large uptick in construction related disputes and litigation surrounding the operation and management of residential condominiums. We have been actively involved in a number of financings, mergers and business acquisitions, as our clients seek opportunities to grow and strengthen their market positions.

What trends or shifts have stood out most to you so far this year within your industry?
Widespread global uncertainty has been the most significant trend facing most of the commercial real estate community. These volatile market conditions create rising and fluctuating interest rates and the imposition of more stringent loan underwriting requirements. We have been actively involved in our clients revising their business plans to address shifting economic conditions and escalating operating costs. In short, clients are seeking creative, strategic solutions to navigate a complicated financial landscape, with uncertain variables impacting the ownership, acquisition and management of their properties.

What challenges or opportunities have had the biggest impact on your business during the first half of 2026?
Economic uncertainty has been extremely challenging for many clients, particularly in the retail and hospitality sectors. Clients are faced with rising operating costs including labor, materials and other expenses, higher interest rates, and more conservative lending practices. However, many of our clients have also found this environment to present lucrative opportunities to negotiate favorable terms for acquiring underperforming assets and increasing those assets’ value by investing in capital improvements and elevating management and oversight.

As we look ahead to the second half of the year, what are you watching most closely?
We are monitoring the proposed rent control measures, which would have a significant impact on multifamily property owners and investors (including development and acquisition decisions) and various pending regulatory efforts to address housing affordability and govern landlord and tenant obligations. We are closely watching the current inflationary environment and its direct impact on interest rates and commercial real estate values, all of which are exceedingly consequential to the CRE community.