NEW YORK CITY—Some RealShare attendees' favorite aspect of the events is returning each year, seeing how trends discussed from the prior year have unfolded. They mingle with experts and colleagues, sharing views on where the industry is going. The willingness of industry peers and pros to share information and speak their minds, whether you agree with them or not, sharpens your tools and knowledge base in real estate.
Last year, speakers addressed the rising popularity of industrial property. This year those observations resoundingly were reaffirmed in all panels, especially with the announcement that Amazon selected Long Island City, Queens for its HQ2.
In real estate panels, it's never rude to talk about money. That means the economy, investments, the flow of capital, and current challenges and the next big disruptor which often both involve big dollars. For other guests the event is all about the networking.
This year the keynote speaker was Rachel Loeb, COO, New York City Economic Development Corporation. She provided a state of the local economy address. Loeb updated attendees on the city's key project, many which are private-public partnerships.
In the "Cautious Optimism: The New York Deal Sheet" panel, one major theme was moderator Marcus & Millichap's Peter Von Der Ahe's reference to hockey star Wayne Gretzky's quote: "It's not where the puck is but where it's going to go." What's the next biggest thing in the real estate industry? Where's the next best investment?
This panel also reinforced to be successful in commercial real estate, it's important to have a stake in the community where you develop, build and live. The panelists conveyed that a strong sense of caring about New York City should be critical for anyone doing business in its real estate.
The "Office Market: Seeking More Efficiency" panel pointed out how times are forever rapidly changing. Thus, what creates efficiency is never static. The moderator, the Moinian Group's Gregg Weisser, emphasized how co-working will be a very long-term part of the CRE landscape. He said most landlords are saying they'd better put a part of their portfolio in the co-working or flexible office space.
With "Balance and Flexibility: Capital Markets Update," as an overarching topic, panelists delved into multistory industrial, and how that has become "the new multifamily." If one predicted trends by observing the rise in e-commerce or attended last year's RealShare New York event, perhaps the rise of multistory industrial was not a surprising story.
Finally, in the "Last Mile and Urban Logistics Facilities" session panelists reviewed the industrial warehouse sector in the context of the Amazon H2Q selections. They shared their thoughts on where growth for futures investments is likely to occur.
Check out our photo slide above to view scenes from the RealShare New York 2018 event. All photos were taken by Charles Garnar.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
