Paul Pariser, Taconic Investment Partners
The Editors Oct. 8, 2013, 7 a.m.
The Aspen Art Museum. I am proud to be helping colleagues in Aspen finalize the vision of a word-class museum building.
Real estate prediction for 2014?
Investors will begin to acknowledge the inevitability of interest rate increases, which will slow the velocity of transactions. Also, our next mayor will play a significant role in continuing and advancing confidence in the city, which impacts tourism, employment levels, population growth, values and everything in between.
Where in New York is there still untapped potential for real estate development?
The Lower East Side of Manhattan and Brooklyn have become very viable markets, both on the residential and commercial side, and still have lots of potential for continued growth.
Who will become New York City’s next mayor?
We will know shortly.
What real estate policy should New York’s next mayor make a priority?
Keeping the city safe. An increase in crime will set our progress back decades. In the grand scheme of things, safety trumps everything else in terms of importance to real estate values.
What qualities do you look for in an agent representing your buildings?
What is one aspect of your business you wish you had more time for?
I wish I had more time to get into the weeds with our architects and design teams as we design our buildings. I love the design aspect of development, but unfortunately don’t have the time to be involved in every detail all the time. Luckily, we have a great team here at Taconic that I can count on to get it right. Colleen Wenke, Bill Shaughnessy and George Tsapelas, who run the development of 837 Washington for us, have done a tremendous job making sure the building is truly spectacular.
That the city loses the positive business momentum that has been in the works for nearly 20 years now.
If approved, the Midtown East rezoning initiative will:
Allow Park Avenue to remain one of the preeminent office submarkets in the world.
In the film version of your life, which actor would portray you?
Kevin Costner in Tin Cup.
Foreign real estate market you’d most like to invest in:
None. I prefer New York City.
Is broadband connectivity in New York City a priority at your buildings?
Without a doubt, it is essential. We have the most technically advanced office space in the market.
What should happen with Madison Square Garden and Penn Station?
At the very least, Madison Square Garden needs to be renovated to make it look better from the outside. Penn Station should be torn down and replaced with a beautiful structure that appropriately welcomes millions of people to the city every day. Penn Station should be a masterpiece; it should be a global icon. A new Penn Station would completely change Midtown. However, to rebuild Penn Station the right way would most likely require Madison Square Garden to be torn down.
What New York City building should be torn down?
Penn Station/Madison Square Garden.