Laurent Morali.
Laurent Morali
President at Kushner Companies
In 2021, will you buy or sell any real estate? What kind?
We will certainly buy. As to what kind, we’ll continue to be opportunistic, as always, with a focused eye on multifamily. We’ll be looking in NYC and beyond.
How f—ed is retail?
F@*$ing bad.
How flexible are you with negotiating rents?
As a tenant, very much so! As a landlord, it’s like asking the captain of the Titanic if they like swimming in cold water — you don’t like it, but you do what you’ve got to do.
Has your “dead to me” list grown?
No. This is mainly because this crisis is affecting every player in the industry, and the good news is that most of us understand that and are working with each other.
Are you in the market for financing?
Always — whether to finance our large portfolio of assets or new acquisitions. We thankfully refinanced a massive amount of our portfolio in 2019. Having said that, we are also enjoying the very low, current rates on our latest multifamily acquisitions.
What would be the signs that things are NOT going to improve in 2021?
If we have no vaccine by the end of 2020, then 2021 will not be a good year. If there is a vaccine, but unemployment holds at over 10 percent, that would also be a bad sign.
What do you think will NOT go back to normal?
It may take a while for business trips to go back to what they used to be. People have realized the convenience of using Zoom for intercontinental discourse, as opposed to traveling over different time zones and assuming the risk of travel. But they will eventually go back to normal.
Who do you like for mayor in 2021?
Anyone who takes de Blasio’s playbook and plays it in reverse. We need a New Yorker who is business-minded and understands what the real drivers are for NYC growth over the next 10 years.
What do you think the city and/or state should do to help both real estate and the city?
They must work to undo the overregulation that has been put in place over the past two to three years, as well as lowering real estate taxes which have become a burden for too many owners in the city and a turnoff for potential investors. They must also create conditions for true and quality affordable housing for New Yorkers in need.
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?
It is pretty clear, based on each candidate’s program, that a Trump win would be much more favorable than a Biden win, when it comes to the real estate industry.
LIGHTNING ROUND
Where’s your apocalypse bunker? My living room.
Favorite at-home quarantine foods? I found an amazing place in Miami called Harbor Gourmet that delivers quality Kosher/French-style charcuterie to New York City in 24 hours.
Did you gain or lose weight during quarantine? I’m at the same level.
Sourdough bread, banana bread, other? Baguette, of course.
Which TV show have you binged? “The Last Kingdom”
What restaurant did you go to when restaurants reopened? Bettola on the Upper West Side.
Mayor de Blasio: Best Mayor or Best Mayor EVER? W.F.M. EVER.
Best work-from-home hack? Practicing my scales on my guitar while on calls.
Where did you quarantine?
Upper West Side
Biden, Trump or Kanye? As a composer, I must go with Kanye.
