Anthony Malkin

We are already en route to our recovery. Perhaps it is just because we are not so clear of what the recovery will bring we still think about where we were in February 2020. We have already begun to live with COVID, and every day we do it better.

What does normal look like?

The law firms, i-banks, accounting firms, consultancies, [private equity] and venture partnerships are overwhelmed by the wall of money from deals and the effects of massive, coordinated fiscal and monetary stimuli and who think that this surge of “all you can do” work is the new snake (when in reality it is just the pig in the python) and they can do their work from home.

The gig worker-staffed startups in Class B, midblock buildings and WeWork offices are blips. The well-capitalized TAMI [technology, advertising, media and information] firms have managed breakneck growth for years and years now, and their actions involved more growth, creation of offices to attract collaborators back to work, and to recruitment of top talent out of college. They want well-located, modernized or redeveloped, healthy buildings with patina, character, great locations, energy efficiency and indoor environmental quality. Not everyone can or will shell out for triple-digit rents in the newest glass box. 

That is the future, and all those who have not figured it out will be caught behind the eight ball and need to catch up.

If you could go back in time to March of 2020, what’s the first thing you would do?

Nothing different. Firstly, it was too late to initiate a new capital decision at that time, and, secondly, we were well-prepared with a great balance sheet, excellent board engagement and the ability to be nimble and respond.

What do you do now that you never did before 2020?

We are much more advanced on our pathway to inclusion and engagement in our inner corporate culture. We are now 100 percent  by-reservation at the Empire State Building Observatory and that has resulted in record per caps from our visitors.

What’s the biggest threat to the return to normal?

The fight against prosperity by socialists disguised as progressive Democrats. I think that people have finally awakened to the goal of destruction and harm that these politicians represent. Full awareness will take time, and it builds every day. Additionally, there is the chance for a misinterpretation of what is “normal.” Anyone who thinks we will go backward to another time ignores the fact that the pathway is always forward, always onward and upward.

Is now the time to buy or sell?

Both.

Suddenly, there’s a big change to the New York state constitution and you’re now named the 58th governor of the Empire State — what do you do about the eviction moratorium?

End it. The more you distort a market, the more market distortions you will get.

Government needs to govern and protect around the edges with policy. The moratorium against evictions is like the radical reforms passed down from Albany on criminal justice, just another forum through which lawlessness and upheaval has been spread. We do not need anarchy; we need markets, law and predictability from both. Then, we need to help those who are left behind by markets or who have real needs. Stop targeting individual needs with a spray of policy, and instead target the needs and help the needy.

Lightning round

Eric Adams or Curtis Sliwa? 

Adams.

Last time you got on an airplane,
what was your destination?

Sept. 30, 2021. A business dinner.

What vax did you get? 

Pfizer.

Your go-to takeout?

Eat out or cook in the kitchen, do not do takeout.

Where does your patience wear thinnest — evictions or anti-vaxxers?

Demagogues.