2013: The Year of NY’s Real Estate ‘Bloom’

Whatever else can be said about 2013, it marks the end of an era in real estate.

After 12 years presiding over a seemingly boundless real estate market — even with a catastrophic crash wedged in the middle — Mayor Michael R. Bloomberg, one of the biggest boosters of development in the city’s history, is on his way out.

“Everybody in the real estate business should pay a promote to Bloomberg,” says developer Steve Witkoff of the Witkoff Group.

And despite all their protests to the contrary, the new guy — Bill de Blasio — makes a lot of real estate folks nervous.

“Many people in the real estate community heard about a pre-kindergarten tax and they were like, ‘Oh my god — this is a soak the rich guy,’” says Witkoff. “It’s ridiculous.”

Indeed, as reality sets in, many have made their peace with the end of Bloomberg and start of de Blasio.
“Why would anyone want to turn such a successful ship around?” asks Pam Liebman, president and CEO of the Corcoran Group.

And there’s no question that this transfer of power comes at a particularly gold-plated moment in city real estate: 2013 was a banner year. It’s a fitting send-off for Mayor Mike.

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