2018 Global Leaders in Real Estate Summit: What are the hottest areas for investment and development in the near future?
Attendees of the most recent Global Leaders in Real Estate Summit discuss the hottest areas for investment and development in the near future.
Gerald Guterman: The hottest areas in real estate development, we find other tertiary areas around the United States. That is cities that are not considered the big six or eight or 10, but other cities, like Orlando.
Ken Weissenberg: In terms of the sectors of the market that seem to be developing a lot of interest, retail is on the outs, hotels are slowing down, but industrial, particularly warehouse space for logistics—same-day delivery-type concepts is very strong.
Andrea Himmel: We're very excited right now about industrial assets in the boroughs. A lot of this is driven by the e-commerce trends that are forcing retailers to locate their supply chains closer to Manhattan and closer to their destinations of the goods.
Jay Neveloff: I primarily see people looking at New York. One of the hottest sectors right now is industrial, actually, and we have a number of clients who are more active in that market. We also have a lot of development clients who are our clients who invest in private equity, clients who invest in development transactions or general transactions, and we're seeing a lot of activity in recapitalizations of existing deals.
Jamar Gordon: Development project, live, work, play type of environment where you have your commercial as well as your apartment entertainment in some office as well.
Joseph Whitelock: The hottest areas for development in the near future. You can look at this two different ways. First, geographically. For us, the Pennsylvania, New Jersey, Delaware, tristate area is very important to us. We see some great opportunities in the Pocono region in northeastern Pennsylvania. We have developed a number of shopping centers there.
Conlyn Chan: I'm a huge believer in New Jersey. I think there's a lot of untapped opportunities—more specifically the waterfront with a stunning view of Manhattan.
Mike Lefkowitz: The big topic in the discussion points right now are over opportunity zones, and people see those as a hot area for investment, given the tax savings that can take place through that investment.
Conlyn Chan: Student housing, multifamily, these are all good investment in different neighborhoods that are experiencing job growth or income growth.
John McClatchy:Another area that has never gone down is storage. Storage facilities, that's kind of not sexy for our sector here in Midtown, but we think those will continue to grow. Outside of that, we expect to benefit from the bounce back from the devaluation of the last few years.
Attendees of the most recent Global Leaders in Real Estate Summit discuss how to close a deal in New York City real estate market, one of the most competitive markets in the world. Closing a deal requires patience and understanding of the market.
Attendees of the most recent Global Leaders in Real Estate Summit discuss where capital will be coming from next year.
Attendees of the most recent Global Leaders in Real Estate Summit discuss opportunity zones, which include deferral of tax on capital gains and an exclusion of tax on certain assets, and are a great tax shelter for Section 8 or senior housing.
Attendees of the most recent Global Leaders in Real Estate Summit discuss foreign investment in the U.S. real estate market by Canada, Europe and countries in Asia such as China and Japan. Private equity seems to be flush with capital.
Attendees of the Global Leaders in Real Estate Summit discuss where the real estate sector is heading over the next couple of years, including the potential for a New York real estate market bubble-burst, local economics and regulation.