Boston Properties’ investments leave Zuckerman unfazed with uneven recovery

New York /
Jul.July 07, 2011 03:48 PM

Mortimer Zuckerman, founder and chairman of Boston Properties and owner of the New York Daily News, appeared on CNBC this afternoon to discuss the media business, the debt ceiling and the commercial real estate market. When CNBC noted the bifurcated nature of the market, which is seeing growth in the best markets, but rent declines in other large cities, Zuckerman said that the dichotomy does not concern him. “We’ve limited our own activities to Washington and New York, Boston and San Francisco and these are the best markets to be in,” he said. “We’re in the best kind of real estate within those markets which are the highest quality trophy assets.” Zuckerman noted that the best commercial real estate markets are those which, for one reason or another, are in short supply. But the struggles in the remainder of the national market, he said, are reflective of the uneven recovery in the overall economy. “The economy is not doing that well,” he said, “but it’s better than it was.”


Related Articles

arrow_forward_ios
Boston Properties’ Owen Thomas, Vornado Realty Trust’s Steve Roth, Paramount Group’s Albert Behler, SL Green’s Marc Holliday and Empire Real Estate Trust’s Tony Malkin  (iStock, slgreen.com, vno.com, paramount-group.com, esrtreit.com, LinkedIn)
Office landlords profess optimism despite dip in occupancy
Office landlords profess optimism despite dip in occupancy
Food52 CEO Amanda Hesser, Rudin Management president Eric Rudin and 1 Dock 72 Way in Brooklyn (Getty, Rudin)
Rudin’s Dock 72 notches Food52 as second tenant
Rudin’s Dock 72 notches Food52 as second tenant
Vice Media CEO Nancy Dubuc, Rudin Management's Bill Rudin and Dock 72 (Getty)
Vice plans move to Rudin’s Dock 72
Vice plans move to Rudin’s Dock 72
Boston Properties CEO Owen Thomas (Thomas by Axel Dupeux, iStock)
Work-from-home threat “overstated,” Boston Properties CEO says
Work-from-home threat “overstated,” Boston Properties CEO says
Gotham Organization Chairman Joel Picket with the proposed development at 130 Felix Street. (Getty, 130 Felix)
These projects just beat the rezoning deadline
These projects just beat the rezoning deadline
Boston Properties CEO Owen Thomas and 360 Park Ave South (Thomas by Axel Dupeux, 360 Park Ave South via CBRE)
Boston Properties to acquire 360 Park Ave South ground lease
Boston Properties to acquire 360 Park Ave South ground lease
Boston Properties CEO Owen Thomas (iStock, Thomas by Axel Dupeux)
Boston Properties to launch $2B joint venture
Boston Properties to launch $2B joint venture
An aerial of 341-347 Madison Avenue and Boston Properties CEO Owen D. Thomas (Google Maps, Real Estate Roundtable)
Boston Properties moves forward with teardown of ex-MTA HQ
Boston Properties moves forward with teardown of ex-MTA HQ
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...