Daniel Moore.
Daniel Moore
President and CEO at Rockefeller Group
In 2021, will you buy or sell any real estate? What kind?
We’re not just thinking about the next year, but about the next three, five, 10 years. A key part of our long-term strategy is focused on materially growing our development business over the next decade.
In 2021, our plan is to sell completed projects, particularly in the industrial space, while pursuing new opportunities around the country. Our liquidity and balance sheet are meaningful competitive advantages in the current environment.
How f@*$ed is retail?
Retail appears to be going through years of evolution in just a few months. The challenges are material and have required operators and landlords to explore new models of doing business together to create value for all parties.
But, even with the negative headlines, there are bright spots. At 1271 Avenue of the Americas, we signed a new deal with restaurateur Avra, and look forward to their opening next year. We’ve worked to help our retail tenants reopen for business and, earlier this month, the MLB flagship store opened its doors, just in time for the playoffs and World Series.
How flexible are you with negotiating rents?
With the successful repositioning of our core assets over the past few years, we’re fortunate to have an enviable roster of world-class tenants and minimal office vacancy in our New York City portfolio. We do our best to be flexible and creative with our retail tenants, given the challenges they’ve faced.
Has your “dead to me” list grown?
We don’t really view the world through that kind of lens. We have great partners and continue to foster new relationships to explore attractive investment and development opportunities.
Are you in the market for financing?
We’re typically in the market for construction financing for new developments — industrial, office, residential, mixed-use — around the country. We’re also focused on expanding geographically into new markets, where we like the macroeconomic and demographic trends.
What would be the signs that things are NOT going to improve in 2021?
Failure to develop a safe and effective vaccine by the end of Q1.
What do you think will NOT go back to normal?
Generally speaking, there’s going to be more acceptance of flexible working arrangements and less expectation that everyone is in the office five days a week.
What do you think the city and/or state should do to help both real estate and the city?
Get back to the basics — provide clean and safe streets, public transportation, parks and open spaces. Employ the best COVID-19 practices from around the world to our city and state. Science-based decision-making on business, cultural and school operations.
How do you think the November election will affect real estate? How do you see a Trump win? How do you see a Biden win?
The most important thing is to have a definitive winner in time for a January inauguration. Prolonged uncertainty is the least attractive scenario.
LIGHTNING ROUND
Where’s your apocalypse bunker? Secret cave under my house, accessed by a switch hidden in a bust of Shakespeare in the study.
Favorite at-home quarantine foods? Pancakes for dinner.
Did you gain or lose weight during quarantine? Yes, and yes.
Sourdough bread, banana bread, other? Banana
Which TV show have you binged? “Community”
What restaurant did you go to when restaurants reopened? Estiatorio Milos
Best work-from-home hack? Walks with my wife before dinner.
Where did you quarantine? Home
Biden, Trump or Kanye? Or is the more interesting question: Harris or Pence?
