2025 Sunrise Multifamily Summit Gives 360-Degree View of Rental Market

Posted by sunrise255 on November 24th, 2025

2025 Sunrise Multifamily Summit

Over 200 professionals from multifamily management, real estate, banking, financial services, and related industries gathered on October 30, 2025, for the return of the Sunrise Multifamily Summit. Hosted by Sunrise Management & Consulting, the event brought together regional and national perspectives to examine economic conditions, rental market fundamentals, and long-term investment considerations shaping the multifamily sector.

Keynote Conversation

Hugh Johnson, Chairman and Chief Economist of Hugh Johnson Economics, offered insight into national and regional economic conditions. His remarks covered employment trends, inflation, federal monetary policy, interest rates, and long-term investment outlooks. Johnson also addressed expectations for multifamily investors and property professionals as the industry looks ahead to 2026.

Panel Discussion

The panel discussion explored the Capital Region rental market, focusing on supply and demand dynamics, development activity, financing conditions, tenant expectations, and long-term growth opportunities. Panelists included Jesse Holland, President of Sunrise Management & Consulting; Stephen Obermayer, BBL; Jessica Richer, The Richer Team at Hanna Commercial Real Estate; and Brian Sheldrick, Broadview Federal Credit Union. The discussion was moderated by Michael DeMasi of the Albany Business Review.

Community Impact

In addition to fostering industry collaboration, the event raised $2,835 for the Regional Food Bank, supporting families across the region at a critical time. Thank you to Joanne Dwyer, Chief Business Officer at the Regional Food Bank, for helping attendees better understand the organization’s mission and outcomes. The event sponsors and participants extend their appreciation to everyone who supported the Summit and contributed to its success.

Event Video and Resources

Those who were unable to attend, or who wish to revisit the discussions from October 30, 2025, can view the full event recording here: 2025 Sunrise Multifamily Summit event video.

Additional resources:

Additional Insights from Summit Contributors

For further perspective, explore pre-event insights and market commentary from Sunrise Multifamily Summit contributors:

New York Real Estate Journal Article Image

New York Real Estate Journal layout of the Sunrise Multifamily Summit event article

Text Version of the Article

SUNRISE MULTIFAMILY SUMMIT GIVES

360 DEGREE VIEW OF RENTAL MARKET

Economic Forces and Forecasts

Sunrise Management & Consulting, based in Latham, NY, brought together commercial real estate industry leaders on October 30, 2025, for the return of the Sunrise Multifamily Summit.

The program featured a keynote address from economist Hugh Johnson, chairman and chief economist of Hugh Johnson Economics, followed by a panel discussion outlining trends, challenges, opportunities, and advice for multifamily investors in New York’s Capital Region. The event came at a pivotal moment as industry leaders navigate economic shifts, capital costs, and evolving policies. After years of volatility, pandemic disruption, inflation spikes, and under-building, real estate and banking decision-makers are seeking clarity across the multifamily landscape.

ECONOMIC CYCLE STILL SUPPORTS MULTIFAMILY STRENGTH

Hugh Johnson said the financial markets are sending positive indicators aligned with continued economic expansion. “Investors collectively are saying that prospects for the economy are good,” he said. Liquidity conditions are improving, the Federal Reserve reduced short-term rates this fall, and they may do so again in December. Johnson forecast mortgage rates falling below 6% in 2026 and 2027, which would improve affordability, activity, and deal volume. Activity in the multifamily sector remains resilient even as pricing moderates, supported by strong earnings projections and improving affordability.

Inflation remains above target but not at levels that alter the Fed’s trajectory. Earnings growth projections remain strong into 2026–2027. “I view us as a leading economic indicator,” said Stephen Obermayer, CFO and principal of BBL, “because whenever there is a downturn, the first thing that goes is CapEx commitments.”

SUPPLY, DEMAND, AND NO SATURATION IN SIGHT

Panelists agreed that the region faces a severe housing shortage. “We haven’t built enough housing in the Capital Region for at least the last decade,” said Jesse Holland, president of Sunrise, which manages roughly 1,200 units with another 600 in the pipeline.

“Even large new projects don’t make a dent,” added Brian Sheldrick, senior vice president of business services at Broadview Federal Credit Union. “Lease velocity has been tremendous — especially new units: It’s astounding how quickly they are filling.” Regional growth in technology, healthcare, engineering, and higher education continues to add pressure to already limited housing supply.

One proven model for expanding housing opportunity, particularly in urban areas, is the Historic Preservation Tax Credit for rehabilitating historic buildings, Obermayer noted.

DEVELOPMENT COSTS A CHALLENGE

“I would describe multifamily as strong – but challenging,” Holland said. “There are certainly some headwinds that we deal with: the law changes in 2019 that were definitely anti-landlord and that drum still beats.”

Permitting timelines, wetlands rules, and code shifts continue to create friction. Beyond design, long-term property management strategy determines year-two-and-beyond returns. “Real estate is not a short-term investment,” Holland said. “You need to have a long-term view” and plan for running the property sustainably over decades.

AMENITIES, DIFFERENTIATORS, AND NICHES

Amenities desired or required by residents continue to evolve. Outdoor community space, fire pits, mixed-use retail integration, and on-site dining partnerships increasingly influence leasing decisions. Fitness remains highly used, and covered parking is a powerful differentiator. But community, wellness, and lifestyle support remain core value drivers. “When residents feel connected to where they live, both our residents and our businesses thrive,” said Heather Schechter, chief strategy officer at Sunrise.

Understanding submarkets is essential, added Jessica Richer, licensed associate real estate broker at Hanna Commercial Real Estate: “There are a lot of different types of multifamily housing: student, senior, affordable, workforce, and market rate – and need exists at every level.”

IT TAKES A SUMMIT

Investors, lenders, operators, engineers, brokers, and policymakers must work together to solve challenges and expand supply to meet demand. “Collaboration helps all of us in the industry grow stronger together,” Schechter said, and is the key goal of these summits.