Many family offices and investors for that matter wonder how Brexit will affect real estate. In a recent New York Post article by Steve Cuozzo provides some good insight. Brexit sent British real estate markets reeling, but how it will impact New York is hard to predict. 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.” But Cushman & Wakefield dealmaking whiz Tara Stacom
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