Jeffrey Gural

What was your largest office lease in the last year? 

Our largest office lease in 2026 was with Brex, the financial technology company, which signed a lease for approximately 94,000 square feet at 200 Varick Street in Hudson Square. It was a significant transaction for us and another example of how technology companies, particularly those involved in AI, continue to drive office leasing activity in New York City.  

We also completed a roughly 50,000-square-foot lease with Synthesia, an AI video platform, at 676 Avenue of the Americas.  These transactions demonstrate that there is still strong demand for well-located office space in Manhattan, particularly among growing technology companies. 

Are you looking to sell any properties in your portfolio?

We’re considering selling 420 West 45th Street. We had been exploring the possibility of demolishing the existing building and developing affordable housing on the site, which is something I would like to see more of in New York City.

Unfortunately, with higher interest rates and construction costs, it’s becoming increasingly difficult to make the numbers work on these types of projects. We’re still evaluating our options, including moving forward with the affordable housing development or selling the property.  

Ultimately, the economics has to make sense.   

Who would you like to see running for president in 2028?

I’d like to see Kentucky Gov. Andy Beshear run for president. He’s a Democrat who has managed to become an extremely popular governor in a traditionally Republican state, which I think says a lot about his ability to appeal to voters across party lines. He’s demonstrated that you can be a Democrat without embracing some of the more extreme progressive policies that could backfire politically. 

I think the country could use someone who can bring people together rather than push them further apart. 

If you could recommend one policy change to the Mamdani administration, what would it be?

The city needs to do a better job addressing homelessness. I recently walked past two homeless people sleeping outside with a dog and all their belongings. These individuals need real assistance, and we can’t simply ignore the problem.  

I understand and respect the administration’s preference for having social service professionals respond rather than the police, but I’m not convinced that approach alone will work. Perhaps we need a combination of social services and law enforcement to address these situations effectively and compassionately.

What is the most unusual asset in your portfolio?

The Flatiron Building. It’s one of the most recognizable buildings in New York City, and certainly one of the most unusual architecturally.  

The building is now being converted into luxury residential condominiums by the Brodsky Organization, which is leading the development. We’re a silent partner in the project. It’s an iconic piece of New York City history, and it’s exciting to be involved in the next chapter of such a distinctive property. 

If you could change one area of global or local tumult, what would it be?

I’d like to see an end to the conflict in the Persian Gulf. We all agree that Iran should never have a nuclear weapon, but the war isn’t helping anybody. Higher oil and energy prices fuel inflation, which puts additional pressure on interest rates. 

And there’s nothing that hurts real estate more than high interest rates. Every project is affected, especially when owners are refinancing loans that were originated at rates of 3.5 percent.  

I’ve also been critical of the Federal Reserve’s approach to managing inflation. Based on past experience, I’m not convinced they always know what they’re doing.

Lightning Round:

Your AI platform of choice? I’m too old for that.

Who would play you in a movie? Al Pacino.

Jalen Brunson or Aaron Judge? Aaron Judge. As a FanDuel partner, we actually made money when the Yankees won. The Knicks cost us money!

“Oppenheimer” or “Odyssey”? “Oppenheimer.”

Tom Holland, Andrew Garfield or Tobey Maguire? Tobey Maguire. The Flatiron Building was the headquarters of the Daily Bugle in his Spider-Man movies.

Have you ever eaten pizza with a knife and fork? Yes.

The most money you’ve ever spent on a hamburger? $30.

Bank or non-bank? Bank.

Last book you read? I’m a news junkie and spend most of my free time reading newspapers online.

Borrowing costs — up or down in 2027? Down by the end of 2027.

What was your nickname when you grew up/started out? “Goo.” A play on my last name.

How long do we have before AI kills us all? Hopefully, a long time.

Where’s your secret escape compound? (Think Peter Thiel’s New Zealand Plan B.) My farm in Bradford County, Pa.