Vornado president tells BOMA/NY the New York market is healthy

Citing the "prudent" policies of Mayor Michael Bloomberg, the real estate industry's shrewd reinvestment in assets to keep them in "pristine condition," and the classic forces of supply and demand, Vornado office president David Greenbaum told the packed house at BOMA/NY's recent Breakfast Seminar that "New York is in good shape." Underpinning that health, the real estate executive said, is the shortage in office space supply, and the size of the market—four times bigger than the nearest competitor, Chicago.