Commercial Real Estate Picks Its Dream Trump Cabinet

And Trump’s choice to lead the Department of Health and Human Services, Robert F. Kennedy Jr., is well known for his anti-vaccine stance and for often sharing debunked misinformation about medications and immunizations across social media. Trump has also tapped two Fox News hosts for different positions. (As of Commercial Observer’s print run around Thanksgiving, only Gaetz’s nomination had gone kaput.)

Other picks — such as U.S. Sen. Marco Rubio for secretary of state, longtime Wall Street and commercial real estate executive Howard Lutnick for secretary of commerce, and hedge fund executive Scott Bessent to lead the Treasury Department — have raised far fewer eyebrows. 

Leaders in the CRE space meanwhile have been perking up their ears, taking note of who has been chosen for what post, and how that choice might impact the future of their industry. 

And, much like sports fans have their fantasy team drafts, CRE owners have their own imaginings as to who would have the most positive impact on the industry, the economy and the country.

Two names that kept popping up in the replies to CO’s Owners Magazine questionnaires were Jamie Dimon, chairman and chief executive of J.P. Morgan Chase, and former New York Mayor Michael Bloomberg, also a media and philanthropy tycoon. 

“I believe an ideal leader would be someone with a strong business background — someone like Jamie Dimon or Mike Bloomberg,” said Jeff Gural, chairman of GFP Real Estate. “Business leaders often have a deeper understanding of how the economy operates, which is crucial. This perspective can be more valuable than that of someone who has spent their entire career in government.”

The possibility of Bloomberg becoming a member of the next Trump administration is about as likely as a civilized brunch between Taylor Swift and Kim Kardashian, considering the animosity between the former mayor and the president-elect. 

Bloomberg famously said of the twice-impeached president who has been convicted of dozens of felonies, “I know a con when I see one.” Meanwhile, Trump has previously said when he thinks of Bloomberg, he thinks of the word “little.” Bloomberg also donated tens of millions of dollars to the campaign of Trump’s defeated rival, Vice President Kamala Harris. 

But, despite the enmity between the two men, CRE leaders believe Bloomberg would make a great addition to the next administration. 

“I continue to believe that Michael Bloomberg was the best politician of my lifetime,” said Nicholas Bienstock, co-chairman and CEO at Savanna. “His accomplishments as mayor of New York were incredible and transformative.”

Bienstock thinks Bloomberg would be a great choice to lead the Department of Housing and Urban Development, but also noted the snowball’s chance in you know where that Bloomberg would take or be offered a job in a Trump administration. 

And Bienstock is not alone in his admiration for Bloomberg. Gregg Schenker, president and managing partner at ABS, also praised the former mayor for the work he did in New York City across his three terms in office. 

Bloomberg faced criticism when he ran for a third term as mayor back in 2009 despite rules in place to prevent just such a move. So it will be interesting to see how he reacts if Trump pulls an FDR and seeks a third term in 2028 (despite the 22nd Amendment). The president-elect apparently joked about the GOP needing to “do something” that would allow him to run again. 

“[Bloomberg’s] capability is well established and proven in the public and private sectors,” Schenker said. “His return to government office would be a blessing.”

Schenker said he’s also a “fan” of Dimon, and wouldn’t mind seeing him take a leadership role in the new administration. 

“As the leader of the world’s largest bank, Jamie has a unique insight and qualification to meaningfully serve government, sharing a depth of knowledge which provides [an] understanding of the levers and knobs that motivate business and capital, yet responsibly managing the fine line between too much and too little regulation,” he said. 

It’s not clear if Trump would get as icy of a reception from Dimon as he would from Bloomberg. The New York Times reported that Dimon privately endorsed Kamala Harris and was open to a role in her administration, but recently said at a conference that bankers are “dancing in the street” after Trump’s win.

Another person Schenker wants to draft to his fantasy Cabinet is hedge fund manager Bill Ackman, whom Schenker believes would bring a proven ability to “craft sensible, well-thought-out, fair economic and public policy, which would ultimately improve our nation in nonpartisan, ethical and thoughtful ways.” 

Another hedge fund manager, John Paulson, was the pick of owner John Catsimatidis, who, yes, also wanted Dimon in Trump’s Cabinet. 

And, while Dimon, Paulson, Bloomberg and Ackman are some pretty big names being tossed around in this CRE Cabinet fantasy draft, Rick Gropper, principal and co-founder of Camber Property Group, believes in the power of the proverbial little guy. His ideal HUD leader is Walter McNeil, a Vietnam veteran and longtime president of the tenant association for Edenwald Houses, the Bronx’s largest New York City Housing Authority development. 

“He’s one of the best people I know,” Gropper said of McNeil. “He has a huge amount of life experience and an amazing perspective and temperament.”

More than one owner, too, suggested names from the industry — including, in the case of Francis Greenburger, from their own company. “My administration would be composed of several colleagues from Time Equities Inc.” And Tredway’s Will Blodgett rattled off several people in his professional orbit, including fellow owner Ben Brown of Brookfield. (Brown himself, as well as some other owners, passed on playing the fantasy Cabinet draft.)

Sam Charney of Charney Companies plucked several nominees from local New York officialdom, including New York City’s first deputy mayor, Maria Torres-Springer, and the city’s economic development chief, Andrew Kimball. (Charney was also careful to recommend his lawyer.) 

In the end, if CRE leaders had their way, the next presidential administration would be stacked with individuals who have a strong background in business, a great understanding of the economy, and who would champion policies that will foster growth. 

“I’d want folks who understand how important the real estate sector is to the broader economy,” said Keith Rubenstein, founder of Somerset. “It’s all about having people who understand both the public and private sectors, and who can keep things moving forward.”

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.