2018 Global Leaders in Real Estate Summit: Where do you think the sector is heading over the next couple of years?
Attendees of the most recent Global Leaders in Real Estate Summit discuss where the real estate sector is heading over the next couple of years.
Jay Neveloff: I'm not a big believer in the bubble-burst thing. I think that the circumstances are different than what we had before. The market may dip, but in New York in particular, it's such a strong market. There's such a large amount of money looking to be invested in New York real estate that adds stability where there otherwise there might not be stability.
Mike Lefkowitz: It does seem that we are at a very mature state in a cycle. What the catalyst will be to change where the market is today is yet to be seen. But, I'm cautiously optimistic that things will stay strong.
Amy Sole: I don't think that there's going be a huge bubble-burst. I think that there's so much regulation that's going on right now that it will start to level off and actually we will see prices drop, but I don't believe it's going to be a huge burst like we've had in the past.
Jamar Gordan: I think the real estate market overall is doing very well. I know there's been a lot of shakiness with having Amazon in the market and things of that nature. But I think even those e-commerce entities still need that brick-and-mortar type of units as well. So I think the market in terms of retail is still very strong.
Gerald Guterman: On local economics, and I mean very local economics, and the ability of the developer, the owner, the operator to know by demographics exactly who and where the demand is, what the ability of that demand is. Without that knowledge you shouldn't be in the area to begin with, and it really has nothing to do with what the whole sector in the city or in a region or in the country has to do with it.
Andrea Himmel: We see the bubble as more of an equity bubble. There's been a lot of free capital coming into the markets over the past few years in terms of both quantitative easing, tax cuts and deregulation from the Trump Administration. And we see that as potentially causing a reset in the stock markets.
Lawrence Selevan: Well, New York's already gone through its bubble and it's in its correction phase right now. Rents came down a little bit. They're stabilized now. There's not as large of an influx of foreign capital, especially Chinese capital. But, New York is still the place where everyone wants to invest.
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 the hottest areas for real estate development and investment. Real estate investment is driven by e-commerce and retail trends in Manhattan and Pennsylvania.
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.
