2015 Year in Review - Michael Guttman

What was your most notable project, deal, transaction or professional achievement in 2015? Every deal is notable and an achievement, however looking back at them collectively, I am thankful to have successfully have closed or contracted over 40 deals with an aggregate value of nearly $600 million. It’s kind of surreal. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015?  I think the single biggest factor impacting the industry is the cost of borrowing. Interest rates have remained low for quite some time allowing investors and developers to be more aggressive in their projections and assumptions.  It will be interesting to see how the market will react once rates begin to rise. What emerging trends will drive investment and development in 2016? Investment activity in the Bronx will continue to be strong across all sectors and I anticipate demand for retail investment property to grow exponentially across all the boroughs.