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Posted: December 20, 2016
2016 Year in Review: Michael Romer, Romer Debbas LLP
Michael Romer, Romer Debbas LLPName & Title: Michael Romer, Esq., Managing Partner
Company Name: Romer Debbas LLP
What project, transaction, market trend or product had the greatest impact on your industry this year?
Simply put, record low interest rates and continued foreign investment helped drive the 2016 real estate market. It is quite possible that we may never see mortgage rates this low ever again.
2016 provided willing investors and property owners with a real opportunity to obtain inexpensive financing and many took advantage of the opportunity.
As for foreign investment, the trend certainly continued in 2016 and helped support the ever growing condominium market as well as the small to large scale commercial market.
How will you be supercharging your productivity in 2017?
As a firm, we are committed to continued growth in 2017. Our vision since inception in 2011 was to create a full service real estate firm handling commercial and residential acquisitions/sales, office and retail leasing, offering plans and development, co-op/condo board representation, immigration/EB-5, estates/trusts, and real estate related litigation. We have successfully completed all pieces of the puzzle and look to bolster each group with like-minded attorneys in 2017.
What emerging trends will drive investment and development in 2017?
Now that the election is over, we are finding that investors have taken a breath and are realizing that the world goes on. Regardless of one’s political views and affiliations, it is hard to imagine that having a New York real estate developer in the White House will be bad for business. Although cost of financing is likely to continue to increase over time, continued confidence (both domestic and foreign) in the New York real estate market as a safe investment should help make 2017 a successful year.
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