VIDEO: Sitt calls commercial real estate market a “utopia”

Thor Equities head, Don Peebles see continued market strength

TRD MIAMI /
Dec.December 15, 2015 04:30 PM

From the New York website: A growing number of observers reckon the real estate market is heading for a correction in 2016, but Joe Sitt and Don Peebles are having none of that.

Peebles, head of the Peebles Corporation, believes demand for apartments is stronger than people think. “There’s a lot of pre-construction sales, and those sales have not gone to record yet,” he told Bloomberg. “So while velocity appears down, it is more active of a market,” he said, although he cautioned that the condo market may still slow down somewhat and rentals will “pull back.”

Joe Sitt, of Thor Equities, is similarly optimistic about the U.S. commercial real estate market. “It’s actually, right now, utopia,” Sitt said. “What do I mean by that? You’re still not peaking in terms of where the rents are as compared to where the prior peaks were.”

Listen to his reasoning in the video above. [Bloomberg]Konrad Putzier


Related Articles

arrow_forward_ios
Don Peebles and a rendering of the project

Don Peebles to re-open the Bath Club in Miami Beach

WATCH: Don Peebles leads diversity in real estate talk at The Real Deal Miami event

WATCH: Don Peebles leads diversity in real estate talk at The Real Deal Miami event

Don Peebles

WATCH: Don Peebles on why developers love Miami’s volatility

Sea level rise video

WATCH: Developers and brokers weigh in on Miami sea level rise

From left: Ben Carson and Grant Cardone

Opportunity Zones, luxury residential pricing, the diversity dilemma and more at TRD Miami’s Showcase & Forum

Don Peebles

Minority real estate professionals still fight racial and gender barriers: TRD Miami Showcase & Forum

Bath Club fight pits Peebles against unit owners over sale of private club

Bath Club fight pits Peebles against unit owners over sale of private club

Edgardo Defortuna joins Peebles, Stern, Karmely and Karp for Future City 2019

Edgardo Defortuna joins Peebles, Stern, Karmely and Karp for Future City 2019

arrow_forward_ios
Loading...