Real estate market challenges ahead

The keynote panelists at Wednesday’s New York Money Summit, hosted by The Real Deal columnist Michael Stoler, discussed the way the economy is changing New York City real estate, from rental concessions to financing for new developments, to the way the changes in the financial services industry will affect the office market. The Real Deal was one of eight sponsors of the daytime event. Click above to hear excerpts from the panelists, in the order in which they spoke: Steven Witkoff, CEO of the Witkoff Group; Peter Riguardi, president of the New York region at Jones Lang LaSalle; Joseph Ficalora, chairman of the board and president and CEO of New York Community Bancorp; Michael Fascitelli, president and a trustee of the board of Vornado Realty Trust; Robert Knakal, chairman of Massey Knakal Realty Services; and Ofer Yardeni, managing partner at Stonehenge Partners.