Jason Muss

What does normal look like?

“Normal” has now become a relative word. There is the new normal and the old normal — but, hopefully, given enough time the two will merge and we will begin to feel as if our lives are no longer constantly burdened by the currently necessary precautions we must take.

I think the new normal involves several inconveniences that are well worth suffering through for both the greater good and for individuals being able to carry on with their lives — but this should fade over time. Nothing has ever replaced face-to-face contact and in-person gatherings, and nothing ever will. The new normal will still include working from the office — it might just be three or four days a week instead of five. Travel will become safer and will thus invite more people to venture out, and the pent-up demand is already bursting out domestically. 

Every square foot of office space, retail and rental apartments currently built or under construction will ultimately be spoken for because owners and operators are dealmakers. We are not in the business of maintaining empty space. The only question is: What will the rent be? And that won’t matter if we have vibrant streets, stores and buildings, which is what will soon occur.

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

Warn the world, buy tech stocks, and double down on residential real estate! Maybe a little late on the latter two of those.

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

Various variants — the delta variant lessened confidence in the vaccines and created a group of people who shared widespread stories of being vaccinated but still contracting the virus. This is dangerous because it both scares those already vaccinated from resuming normal activities and creates an excuse for many to avoid or defer their own vaccinations. Let’s hope we don’t get anything else that even approaches the delta variant.

Is now the time to buy or sell?

It’s never a good time to sell, in general. However, there has definitely been froth in the market, leading many to sell select holdings. For us, however, it is the time to buy.

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?

To the extent there is a consensus that rent is in the same category as food, medical services and schooling as far as governmental benefits are concerned, then the government should pay for rent forgiveness, not private property owners. The problem is that the eviction moratorium was never need-based and never took into account the difference between luxury, middle-class and more affordable housing. There can be no one-size-fits-all ban on the enforcement of private contracts without creating undue hardship on a group of people. Let the government fund the mandate itself and step in if it so chooses.

Lightning round

Eric Adams or Curtis Sliwa? 

Adams.

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

September, to the Southeast to look at a property.

What vax did you get? 

Pfizer.

Your go-to takeout?

Sushi.

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

They are both very different kinds of impatience. The latter is a life-or-death issue, so it’s much more important; but it’s not about impatience or my feelings (or anyone else’s). It’s about education and giving people the facts to make up their minds to keep themselves and those around them safe and healthy.