Apprise by Walker & Dunlop recently announced it expanded its presence within New York City, appointing Jonathan Chambre as senior director, according to a release.

Chambre possesses more than 15 years of commercial real estate experience and will lead the Apprise initiatives in one of the nation’s most complex and dynamic multifamily markets.

The update comes as the New York City market continues to respond to changes in the multifamily sector, driven by regulatory shifts, zoning changes, and market dynamics with far-reaching implications for lenders, developers, and operators.

Developments impacting valuations in New York City include:

• City of Yes: Largest change to the NYC zoning code in many years that has increased flexibility and aims to encourage the development of affordable housing.
• New property tax incentive (replacing the previously expired 421a), aimed at encouraging development of mixed-income projects and has changed development considerations for many sites.
• Rent Stabilization: Laws that limit rent increases and provide statutory tenant protection. Minor 2024 changes had little impact toward reversing trends since major changes were enacted in 2019.
• Good Cause Eviction: A recent law that has expanded tenant protections to previously unregulated units, with staged applicability based on construction year.
• Local Law 97: NYC climate law, potentially subjecting buildings to fines for failing to reduce emissions. The first compliance deadline passed in 2024, but most properties received compliance extensions, with stricter standards pending in 2029.

These evolving dynamics highlight why credible, timely appraisals are critical in the Big Apple, according to a release. Beyond traditional measures such as capitalization rates or overall value, appraisals must account for layers of regulation, density-driven demand, neighborhood-specific conditions, and investor sentiment unique to the city.

“New York City is unlike any other multifamily market,” Chambre said in the release. “Navigating its complexities requires an appraisal approach that is both data-driven and deeply rooted in local expertise. I am thrilled to join Apprise and provide clients with timely, insightful appraisals to guide decisions in the evolving market.”

Prior to joining Apprise, Chambre held leadership roles at JLL and Metropolitan Valuation Services, where he handled valuations of large and complex properties and was active in the mentoring of junior colleagues. He is a designated member of the Appraisal Institute.