Multifamily Man: The Dermot Company’s Andrew Levison

Why It Matters

Levison’s trajectory illustrates how deep operational knowledge can drive profitable institutional strategies in a fragmented multifamily market, while Dermot’s pivot highlights shifting investor focus toward market‑rate, amenity‑rich assets amid regulatory pressures.

Key Takeaways

• Dermot manages ~$5 billion, 7,500 units nationwide
• Levison rose from renovating units to CIO role
• Shifted from rent‑stabilized NY assets to market‑rate properties
• Targets “lifestyle renters” with upscale build‑to‑rent units
• Florida supply surge pressures rents, prompting selective location focus

Pulse Analysis

The Dermot Company’s evolution under Andrew Levison underscores a broader trend in multifamily real estate: operators with granular, hands‑on experience are increasingly valued for their ability to translate floor‑level insights into institutional scale. Levison’s early days fixing toilets and painting apartments gave him a realistic cost baseline, allowing Dermot to underwrite acquisitions with a sharper eye on renovation budgets and operational efficiencies. This operational rigor, combined with a non‑family, institutional financing structure, positions Dermot to compete with legacy family‑owned firms while leveraging modern capital markets.

Regulatory headwinds in New York, especially the 2011, 2015, and 2019 rent‑stabilization reforms, prompted Dermot to retreat from older, heavily regulated assets. Instead, the firm now targets newer, market‑rate buildings—typically constructed between the 1970s and early 2000s—and upscale build‑to‑rent (BTR) projects that appeal to “lifestyle renters,” a segment that can afford premium amenities but lacks the means to purchase a home in today’s high‑price environment. By focusing on properties with doormen, elevators, and attached garages, Dermot captures higher rent premiums while mitigating the volatility associated with rent‑controlled units.

Florida presents a contrasting landscape: fewer rent controls but an influx of supply driven by pro‑building policies. Dermot counters this by concentrating on high‑end neighborhoods where new construction is limited, preserving rent growth potential. Levison’s broader industry perspective—recognizing that builders will continue to supply units regardless of rent trajectories—highlights the importance of strategic location selection and asset class diversification. For emerging CRE professionals, his advice stresses mastering property operations before moving into acquisition, a pathway that blends practical know‑how with sophisticated financial modeling to navigate an increasingly complex multifamily market.