Winston Fisher

Has anything in your Manhattan portfolio surprised you this year? 

New York’s resilience hasn’t surprised us. What has stood out is how quickly the market has begun recognizing the value of Third Avenue. We’ve always believed in 605 Third and continued investing in the asset through a difficult period. 

Now, conversions are reducing supply, owners are reinvesting in the corridor, and rents are moving higher. Recent leases at 605 Third have reached triple digits, which validates that conviction. I still think Third Avenue is one of the most undervalued office corridors in New York, and we may only be a few years away from it being viewed as a $100-per-square-foot avenue on average.

Your company launched its AI Innovation Lab in August. What made you decide that proprietary AI applications, rather than off-the-shelf tools, were necessary?

We see plenty of value in off-the-shelf AI tools, but the real opportunity is figuring out how to connect them in ways that are specific to our business. AI is making software development and customization much more accessible, which gives us the ability to build solutions around how Fisher Brothers actually operates rather than relying entirely on third-party providers. That lets us capture efficiencies, identify new revenue opportunities, and iterate quickly as our needs evolve. 

Just as important, this isn’t only about the technology itself. It’s about building an AI-enabled culture where people across the company are comfortable using these tools and finding practical ways to apply them.

If you could go back in time and invest in something earlier, what would it be?

The obvious answer is the Magnificent Seven. The rise in value across companies like Amazon, Google, Tesla and Nvidia has been extraordinary. 

Bringing it back to real estate, I would also say core Class A office in New York during 2020 and 2021. The market was pricing the best assets as though their long-term value had disappeared, when the reality was that high-quality buildings in strong locations would remain in demand. Rents at the top of the market have continued to grow, and, in hindsight, that period created a rare opportunity to buy quality at a significant discount.

Lightning Round:

Your AI platform of choice? Claude.

Who would play you in a movie? Jason Statham.

One prompt you’d never give AI. Tell me why I’m right.

Jalen Brunson or Aaron Judge? Brunson.

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

Tom Holland, Andrew Garfield or Tobey Maguire? Tom Holland.

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

Borrowing costs — up or down in 2027? Up.

Where’s your secret escape compound? I can’t tell you. It’s a secret.