CUNY TV's The Stoler Report

Bankers agree that their focus is on support of their clients and sponsors, as they discuss a slow-down in 2022 markets, as rising interest rates - low for so long - question what real estate assets will provide lower risks to the investor. Guests comment on the greater risk in the C and D office market, some risks to multi-family and industrial assets, and their interest in limited service hotels and neighborhood retail.

Guests are optimistic! New capital and foreign reinvestments are returning to New York; rents have stayed strong in Brooklyn; commercial projects are doing well; and smaller projects in the boroughs are booming. Guests discuss buyers coming into New York with "long-term" commitments, as an example of their confidence in New York's future.

It's taken a long time for Inwood, the northern most neighborhood in New York City to be open to development. As rezoning and court cases have been settled, guests discuss development that the Inwood community will experience: new parks, libraries, affordable and market rate housing, additional retail, supermarkets through the Fresh Program and community space.

Guests discuss the Rockaways - a hidden gem - and the areas' long journey from an urban wasteland of multi acres of vacant land, through rezoning, mapping to rental apartments, two-family homes, shopping center and a YMCA, along with new development centers of affordable housing and the "bungalow," for entry-level and second home buyers, and more, all designed to encourage community living.

Guests describe Connecticut's outlook as increasingly pro business: "heads'n'meds, with great universities, bio-tech research, medical facilities; the development rebound in Eastern Fairfield County: housing, financial services, medicine. Discussing future challenges: guests listed interest rates, keeping buildings fully rented, tenants seeking smaller office space, as employees continue to work from home, and the difficulty in financing retail and office projects.

Lots of things are happening in Westchester! After a decade of no/slow development, the County is experiencing growth in multi family development, an increase in major hospitals, and other diversified expansion. Suburban office occupancy is now close to 75%; migration to the suburbs has encouraged residential development in close-to-the-city, Westchester and Stamford. Guests discuss New Rochelle, Yonkers, Port Chester and Affordable Housing.

Enthusiastic! Optimistic! With energy, guests discuss office property rentals: A/B level-here to stay; C level-doing better than expected with concessions and opportunities offered renters. The pandemic proved urban anchored grocery/shopping centers to be extremely resilient as 90% of on-line, e-commerce goes through brick and mortar. Residential real estate is doing well. While people are returning to New York, problems do exist: concern about safety, inflation, supply vs demand, Ukraine, the need for responsible legislation from Albany, Affordable Housing.

Considering the times we live in - 2021 and early 2022 were excellent years for the investment sales business. War in Ukraine, inflation, rising interest rates have impacted the industry. Guests agree: the world is shifting. Rental markets are doing well; land sales are active; private clients are buying rather than large institutional buyers. The C & D office market is very tough-but attractive. All are looking for government partnerships to significantly increase the supply of housing on the market.

Changing jobs during a pandemic can be risky. Guests discuss their changes, from retail leasing to mortgage broker, from accountant to banker, and challenges to the future of their industry. As restrictions are relaxed, guests are optimistic about retail, the Long Island market, Gowanus, Harlem, the economy coming back, and the returning to the office.

Real estate developers and bankers discuss successful projects currently being developed on Long Island. With City endorsement, new projects are in construction after remaining vacant for 40 years - Long Beach - rentals and condos; Westbury - luxury condos and rentals - upgraded amenities, supporting a no maintenance life style. Banker discussed industrial properties, senior living, transit-oriented projects and repositioning of assets.