State of the Market Recap (part 2)

We continue our recap of Bisnow’s 4th Annual New York State of the Market, with the investment panel; which included Bill Macklowe (CEO – William Macklowe Company), Chris Schlank (Managing Partner – Savanna), Anthony Westreich (CEO – Monday Properties), Roy Lapidus (President – L&L Holding), and Leslie Himmel (Partner – Himmel + Meringoff Properties). Of the two panels at the event, this was arguably the most exciting. These were some the topics that were discussed:

- Historically low interest rates won’t last forever
- L&L Holding is focused on the tenant experience to gain/hold tenants
- The “Google effect” has altered the way space now is configured
- There’s presently a constraint on the supply of capital in NYC
- NYC is experiencing a flat office leasing market
- NYC needs to do something with its old building stock to remain competitive
- Savanna isn’t focused on the election and doesn’t think the outcome will have an effect on its strategy
- There’s also concern about the change in office for mayor in NYC

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