Michael Shvo

For us, it’s business as usual. We never stopped searching for opportunities, and I’m delighted that we made over $3 billion in purchases during the pandemic, including iconic buildings such as the Transamerica Pyramid in San Francisco and 530 Broadway in New York. I’m extremely optimistic about real estate in prime locations and the future of major metropolitan centers.

What does normal look like?

I anticipate a boom in the luxury residential market in the coming months, which will be followed by a strong recovery in the commercial and retail sectors in prime locations. Our Mandarin Oriental Residences in New York and Beverly Hills, currently under development, are already generating a great deal of buyer activity and interest. Tourists and global investors will finally be able to visit the United States next month, which will fuel a frenzy of activity like we’ve never seen before, both in the commercial and residential markets.

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

Buy more.

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

I never thought I would be debating the viability of commercial real estate and the need for physical office and collaboration space. I strongly believe there will be no permanent remote working and that commercial real estate will do well. Not today, not tomorrow. On the contrary, I believe people are tired of working in their pajamas. At the peak of COVID, when we were all under quarantine, I said in a virtual interview that the world would come back stronger than ever, and I stand by my statement.

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

Anti-vaxxers and anti-business government policy.

Is now the time to buy or sell?

It’s always the right time to buy super-prime real estate. We are long-term investors and are focused on buying irreplaceable properties in key gateway cities, such as the Transamerica Pyramid in San Francisco, the Raleigh Hotel in Miami Beach and 711 Fifth Avenue in Manhattan. I don’t have any doubt that our recent investments will create enormous value for our investors.

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?

I would end the moratorium.

Lightning round

Eric Adams or Curtis Sliwa?

Michael Bloomberg. But I understand Eric Adams is getting advice from Bloomberg, which I find very encouraging.

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

I flew to San Francisco for a series of meetings regarding the redevelopment of the Transamerica Pyramid Center.

What vax did you get?

Moderna.

Your go-to takeout?

Daniel Boulud.

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

Anti-vaxxers.