A poll of leading power players found lots of high expectations, but with a few marked exceptions.
Douglas Elliman chairman Howard M. Lorber forecast, “New York City will move to the No. 1 global city in the world, a spot that London currently holds. In addition, because of Brexit, interest rates have dropped to 30-year lows, causing mortgages to also drop significantly, thus raising the value of both residential and commercial real estate.”
Developer Douglas Durst was most emphatically negative. He said, “The quick-buck types will extol the benefits of the flight of capital to New York, but as long-term players, we know that Brexit is bad for all.”