In a talk yesterday, Larry Silverstein, the head of Silverstein Properties, who six weeks before 9/11 acquired the lease under the World Trade Center and is currently developing many of the new buildings at the site, addressed one of the burning questions on people’s minds these days – where is NYC real estate going?
Having seen cycles come and go during his decades in the business, Silverstein had this to say: “I’ve been functioning here for about 60 years and I’ve always been bullish on New York…Every once in a while there’s a glitch or a decline – some of those declines are sharper than others and some last longer than others – but, on the balance, if you draw a line through the ups and the downs, you’ll see that the ups are more significant. I’ve been watching this damn thing and it just continues to grow.”
Digs Realty found Silverstein’s thoughts on the NYC real estate market especially interesting. It will be interesting to watch him offer future thoughts as they develop.
Article can be found here.