Titans of real estate — from Related Chairman Stephen Ross to Vornado Realty’s head of capital markets Wendy Silverstein to Larry Silverstein, of World Trade Center fame — gathered yesterday at the 45th annual NYU Schack Institute of Real Estate’s Capital Markets Conference. Up for discussion: New York after Sandy, BGC Partners’ new real estate derivatives platform and whether or not Vornado is really just a private equity firm disguised as a real estate investment trust.
Among the many real estate stars opining on the state of capital markets were Scott Rechler of RXR Realty; Marc Holliday, CEO of SL Green; and William Rudin of Rudin Management.
While real estate leaders were optimistic about the after-effects of Hurricane Sandy — tragic human toll but good for construction! — they were less enthusiastic about the reelection of President Barack Obama, and decried the regulation of the financial services industry.
When moderator Robert Blumenthal asked Ross what 2013 holds for commercial real estate, Ross paused and waited a full beat. “I think it will be okay,” he said finally. —Guelda Voien