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CRE Heavy Hitters Discuss the City's Future

NEW YORK CITY-A group of four well-known executives had advice for the incoming mayor, and talked during a panel discussion about rezoning and other issues.

By Rayna Katz | Updated on December 10, 2013

NEW YORK CITY-A panel of real estate industry powerhouses issued cautionary words for Mayor-elect Bill de Blasio on Tuesday in Midtown during an Eisner/Amper forum entitled, “Real Estate Outlook: 2014 And Beyond?A Business And Political Perspective.” The speakers also discussed the city’s migration westward while expressing somewhat bearish sentiments on both Midtown East rezoning and EB-5.

“As you move forward, you have to understand that New York State cut its deficit in three years and you’re going to have to be that disciplined so that the city isn’t devoting so much to debt,” advised former Governor David Paterson, when asked for counsel to the city’s incoming mayor. “Most people would rather spend money and have the next generation pay for it, but you’re going to have to think about a future beyond your service.”

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