Doug Steiner

Last year, Steiner acquired Hub, a massive 55-story residential tower in Downtown Brooklyn, for nearly $419 million. How is that building doing? 

We developed Hub from the ground up. The “acquisition” was actually our buying out our institutional partner. Hub is best in class, and we couldn’t be more proud of it.

The residential tower is fully leased, and we have two new storefronts opening soon: Northwell Health and Kids Empire.

Is Steiner looking at similar residential investment opportunities this year? Which areas of New York City are the most appealing to build in?

We continue to look at large multifamily and condo sites, but have not landed anything yet. The numbers on multifamily are super tough. Location-wise, we’re limiting ourselves to Brooklyn, Manhattan and Queens.

If you were to build in any other region of the country, where would it be?

We’re sticking to New York City for new projects. 

Do you have any future mixed-use developments in the works in New York City, similar to the Admirals Row redevelopment in the Brooklyn Navy Yard? What’s the benefit of having a grocery-anchored project like that one?

We would love to do another mixed-use project like Admirals Row, 660,000 square feet anchored by Wegmans, but sites like this are super rare. We’ve done multiple Wegmans, and hopefully continue to help them expand their footprint. 

We generally won’t look to do any large retail development without a supermarket anchor tenant for purposes of co-tenancy and volume.

Where are you getting your money for new development projects?

We prefer to go it alone and self-finance our equity.

How’s Steiner Studios in Brooklyn doing? Any big TV shows or movies filming there lately?

Steiner Studios successfully rode out the dramatic downturn in production during and following the actors and writers strikes — we’re back to bursting at the seams. Unfortunately, I’m not at liberty to say what’s being shot on the lot. Our clients go to great lengths to guard their intellectual property — it’s the essence of their business — so it’s not for me to say who’s there. 

You’ve been appointed to Mayor Zohran Mamdani’s Business Advisory Council, along with several other leaders in the real estate industry. What do you intend to work on with the mayor?

I see my contribution as making New York City as film-friendly as possible. It’s so important for the creative class to be based here, and film/TV production is a huge economic driver for the city. It’s been a big part of the renaissance of Brooklyn and Queens. 

I’m always concerned with the ease of obtaining certain location shoot permits, developing the workforce, and creating interagency pathways to help solve the inevitable logistical challenges of production. 

Wearing my other hat as a real estate developer, I’m urging radical regulatory change to make affordable housing easier, faster and less expensive to build, through uncapping zoning, making conversions easier, and rolling back the building code.

And landlord-tenant court needs a huge overhaul.

Lightning Round:

Your AI platform of choice? I don’t use AI, just my GS (genuine stupidity).

Who would play you in a movie? Alan Arkin.

One prompt you’d never give AI. No idea, AI is a complete mystery to me.

Jalen Brunson or Aaron Judge? Pass.

“Oppenheimer” or “Odyssey”? Embarrassed to say I haven’t seen either.

Tom Holland, Andrew Garfield or Tobey Maguire? Pass.

Have you ever eaten pizza with a knife and fork? On occasion, depending on my date, the place, the pizza itself.

The most money you’ve ever spent on a hamburger? No idea.

Bank or non-bank? Bank.

Last book you read? Best Science and Nature Writing of 2025.

Borrowing costs: Up and down in 2027? Rates are going up and staying up.

What was your nickname when you grew up/started out? Steimy; son.

How long do we have before AI kills us all? 15 to 20 years. 

Where’s your secret escape compound? (Think Peter Thiel’s New Zealand Plan B.) Islets of Langerhans. (Editor’s note: Dear reader, Google it.)