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 (EQR) 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.”

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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.”