Sam Zell: Optimistic About New York’s Real Estate Future


sam zell Sam Zell: Optimistic About New Yorks Real Estate FutureWe talked to Sam Zell, the grave dancer himself, this afternoon. It was short and sweet, and mostly about a profile The Observer‘s working on. But, Mr. Zell, whose Equity Residential recently bought three apartment buildings in Manhattan, did have this to say about the New York real estate market:

“I think it’s performed better than anybody had expected, particularly on the residential and rental side. Now it’s doing extremely well and we’re very optimistic about the future.”

SEE ALSO: Jesse Stein, Airbnb’s Global Real Estate Head, On Multifamily Partnerships

Does he plan on making any more New York acquisitions?

“I think Equity Residential has a very significant position in the New York market,” Mr. Zell said. “It’s done very well for EQR and I imagine that EQR will continue to pursue opportunities as they arise.”