June 22, 2021

Real Estate Steps Up The Heat Against Higher Taxes In Budget Negotiations

With a little over a week left before the state budget deadline, the real estate industry is ramping up the pressure on lawmakers in the hope they won’t raise taxes or put more regulations on landlords.

Signatories from the real estate world included Related Cos. CEO Jeff Blau, Silverstein Properties CEO Martin Burger, Red Apple CEO John Catsimatidis, Brookfield Asset Management CEO Brian Kingston and TerraCRG CEO Ofer Cohen.

“Five out of the 10 conversations I am having every day are people telling me, ‘I’m starting a big project in Miami and in Nashville,’” Cohen told Bisnow. “It’s been a challenging time to convince people to make big capital commitments in a place that has the state legislators and, now potentially even the city, showing a strong anti-business sentiment.”

Cohen’s brokerage focuses on Brooklyn.

Read the full article here