Craig Deitelzweig

Are you going to buy in 2026?

Yes!

What asset class?

Office. We continue to believe strongly in the office market, especially well-located, amenity-rich assets where we can add value with a hospitality-infused repositioning. Demand for the office assets we have repositioned has been tremendous, and we plan to acquire additional office properties that could benefit from Marx’s signature members-only, club-like treatment. 

 What kind of tenants will drive the Manhattan office market in the next year or two?

We will continue to see finance and legal, but tech will make a strong comeback — we especially expect to see even more machine learning-related companies. 

Do amenities still matter as much in leasing as they did three or four years ago? 

Even more. We find that today’s tenants require these third spaces. Probably the most in-demand amenities are event spaces/town halls that can accommodate large groups (200-plus). It seems that every tenant requires this amenity. We will also be delivering a new unique amenity to the market shortly, so stay tuned.

What local, state or federal policy would you like to see enacted to aid commercial real estate? 

It would be helpful to see tax incentives that encourage the repositioning of older properties, especially considering that those projects minimize waste and help the environment while transforming the assets into modern, vibrant spaces for business to grow. Many of the current programs are not as appealing to owners. 

What’s your prognosis for the D.C. office market in 2026? 

We saw significant leasing in our D.C. portfolio this year, and the D.C. market is heading to a really good place for well-located, high-quality office properties, the segment where we compete. D.C. seems about a year behind New York, but we are seeing a lot more tech and cybersecurity firms coming into the market. As more tenants return to the office four to five days per week, we are seeing our existing tenants expanding within our buildings, which is a very healthy sign.  

Are you expecting an influx of market activity in the first half of 2026 if rates continue to go down? 

Very much so. We are seeing the early innings of such activity now, which will only accelerate if rates decrease. 

Lighting Round:

Mamdani, Cuomo, Adams — Friend, mute, unfollow?
Is John Fetterman running for mayor of NYC?! 

Your pick for Fed chair `26?
Jamie Dimon. 

Borrowing costs up or down by late 2026?
Down.  

More excited about: an interest rate cut or Taylor Swift’s engagement?
Who is she?!

Last vacation and where?
Last month I visited my son in London, and enjoyed a luxury train ride from London to Wales.

Like in ‘Freaky Friday’ you swap bodies with Jerome Powell. What would you do?
I would immediately cut interest rates by 100 basis points, which would be a very impactful move!

What’s your kryptonite?
Stinky cheese. 

How are the tariffs going to affect your Thanksgiving shopping?
My wife says not at all (lol). 

You appear on the kisscam at a concert. Who’s performing?
David Byrne, but with my wife. 

If Stephen Starr asked you which restaurant he should next reopen, what would it be?
Les Halles!