Steve Kaufman.
Steve Kaufman
President at The Kaufman Organization
In 2021, will you buy or sell any real estate? What kind?
As of now, we’re not planning for either. If a good opportunity arises, there’s a chance we might buy.
How f@*$ed is retail?
Retail was already struggling prior to the pandemic, and it’s now in bad shape. To provide a temporary solution, we are considering repurposing some retail space for other uses, such as office space, medical use, etc.
How flexible are you with negotiating rents?
Very. We want to hold onto our tenants, and do not want vacancies to occur. To accommodate, we’ve been flexible with rent negotiating.
Has your “dead to me” list grown?
No, I don’t have a ‘dead to me’ list. I never had one!
Are you in the market for financing?
Not at this current time.
What would be the signs that things are NOT going to improve in 2021?
We feel that the longer Broadway is shutdown, the worse things will be. Broadway is a main driver for tourism, hotels, restaurants, etc., and will be a key indicator for the recovery of NYC. A number of our tenants have direct ties to Broadway, such as rehearsal space, costume manufacturers, providers, etc., and they need to get that going again.
What do you think will NOT go back to normal?
At this point, nothing. I believe, in two to three years, everything will go back to normal, but it will, of course, take time.
Who do you like for mayor in 2021?
I’m still undecided at this point.
What do you think the city and/or state should do to help both real estate and the city?
I realize they cannot reduce taxes since the city needs the income, so it’ll be difficult to help the real estate industry right now. One thing the government can do is help tenants with their rent. If they’re able to do that, it will help the real estate business overall.
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?
If Trump wins, it’s a devastating future for our country. In terms of business, many people say Trump will be the better decision for tax purposes. For me, I am more concerned for the future of the democracy.
LIGHTNING ROUND
Where’s your apocalypse bunker? Vermont, but I haven’t been there since February, so I will go with Manhattan.
Favorite at-home quarantine foods? Ice cream.
Did you gain or lose weight during quarantine? I lost weight because I’m not going out to restaurants. Home cooking is healthy cooking!
Sourdough bread, banana bread, other? Balthazar’s baguettes. I don’t bake bread!
Which TV show have you binged? “A French Village”
What restaurant did you go to when restaurants reopened? Esca restaurant
Mayor de Blasio: Best Mayor or Best Mayor EVER? He’s not the best.
Best WFH hack? Comfortable attire — shorts on the bottom, t-shirt on the top!
Where did you quarantine? I’ve been in my NYC apartment the entire time.
Biden, Trump or Kanye? Biden
