Hal Fetner

You spent nine years developing 266 West 96th Street. What has leasing been like for the multifamily development?

The premise of the question recognizes how hard it is to develop rental housing on the Upper West Side. There are many constraints, including land and construction costs, creating a vacuum of new rentals. 266 West 96th Street leased up extremely well and was well received by the community for its great designs and amenities.  

How do you see investment in multifamily performing next year nationally and in NYC?

If you are fortunate to currently own good quality housing, I suspect the next few years will be very good given the lack of new supply coming into the market.

How has the reopening of 85 East End Avenue been going after the gut renovation?

I’ve wanted to own 85 East End Avenue ever since I built 90 East End Avenue in 2001. There is a lack of good rental housing on East End Avenue, and to own a building originally built by the Rudin family is a privilege. We have recently completed a total overhaul of the elevators, HVAC systems, façade as well as interior renovations. 85 East End is now like a new building, and leasing has been very robust, especially for the family-sized homes. 

Are you optimistic with recent housing policy changes at the city and state level? Where would you like to see additional progress?

I think the City of Yes showed innovation and progress. However, without real tax reform or an abatement program that can help stimulate housing larger than 99 units, I am concerned there will still be a lack of substantial new supply in the marketplace, which will unfortunately continue to drive rents higher.

Lighting Round:

Mamdani, Cuomo, Adams — Friend, mute, unfollow?
I’m not on social media.

Borrowing costs up or down by late 2026?
Borrowing costs are going to continue to drop.

More excited about — interest rate cut or Taylor Swift’s engagement?
At the risk of alienating most of my family, interest rate cuts.

Last vacation and where?
I don’t take vacations.

What’s your Kryptonite?
Dishonesty.

How are the tariffs going to affect your Thanksgiving shopping?
Unfortunately, this Thanksgiving, Fetner Properties is renovating and upgrading many of our health clubs. The tariffs on gym equipment is a real problem we are working through.

You appear on the kisscam at a concert. Who’s performing?
Springsteen.