Multifamily investors in New York City aren’t just buying apartments. They’re buying long-term capital obligations, regulatory complexity, and operating cost exposure, especially in a market where energy performance and building efficiency are becoming inseparable from asset value. That’s where an Integrated Physical Needs Assessment (IPNA)  comes in. An IPNA is no longer just a building condition report. In 2026, it’s the primary tool HUD, FHA lenders, and institutional mult

Property investors in New York City aren’t just buying buildings. They’re buying risk , or protection from it. That’s where a property condition report  (also called a Property Condition Assessment, or PCA) comes in. It’s one of the core due diligence process tools used by lenders, asset managers, and investors to understand the true condition of a commercial asset before a deal closes. In this guide, we’ll walk through: What a property condition report actually covers What m