Industry Experts Talk Trends, Predictions at Haute Residence’s New York Luxury Real Estate Summit

New York’s top real estate agents, brokers, and developers came together for Haute Residence’s second annual New York Luxury Real Estate Summit, which took place November 18 in The Oak Room of The Plaza Hotel, where they discussed current luxury real estate trends, success stories, and what’s next for The Empire State’s booming real estate market.

The event featured three panels, “East Coast Titan Developers”––which was moderated by Gerri Willis, business news anchor and reporter for Fox Business––and “New York Real Estate Power Players” and “Next Generation of Power”––which were both moderated by Seth Semilof, co-founder and publisher of luxury publications Haute Living, Haute Residence, and Haute Time.

Kicking off the summit, big-name developers Robert Gladstone, Francis Greenburger, Miki Naftali, Don Peebles, Michael Stern, and William Zeckendorf on the “East Coast Titan Developers” panel focused on defining what a “luxury” property is and the factors that classify it.

Don Peebles––real estate entrepreneur, best-selling author, and political activist, as well as founder, chairman, and CEO of The Peebles Corporation––led with, “I think 15 Central Park West set the standard, captured the essence I think of what a luxury building is.”

Furthermore, Francis Greenburger, founder of Time Equities, Inc and owner of Sanford J. Greenburger Associates, Inc., stated that it’s not so black and white: “I think the truth is that when you create a certain project, you have a certain market demographic in mind, and I don’t think that it’s one size fits all.”

After a catered lunch by the Todd English Food Hall at The Plaza, luxury real estate brokers Beth Fisher, Stephen Kleigerman, Dolly Lenz, Shlomi Reuveni, Neal Sroka, and Leonard Steinberg of the “New York Real Estate Power Players” panel discussed their outlooks on the state of the market.

Leonard Steinberg, corporate broker and president of Compass, would like more focus on both national and international buyers as a whole: “I have great belief in the American economy and I have great belief in a national buyer, but I think what we have to start maybe reconsidering is the concept of national and international and local and actually start thinking about this asset class of people, who are a global community.”

Read the full story on HauteResidence.com.

Photos by Craig Barritt