Ronald Dickerman.
Ronald Dickerman
Founder and President at Madison International Realty
How much longer can this go on?
It could go on for a very long time. The key is that we learn to live in a world with COVID. We are backstopped by science and the vaccines and, so far, there don’t seem to be new variants of the virus appearing and those that are here aren’t showing resistance to the vaccines. That makes me optimistic.
What does normal look like?
I think it looks very much like what we’re experiencing now. There will be fewer COVID restrictions with some acceleration and differentiation of life caused by COVID. The world will never be the same, but in some ways, we’ll go back to the way it was before. What will be important is personal interaction. The power of relationships will be part of the future.
If you could go back in time to March of 2020, what’s the first thing you would do?
I would tell everyone to have faith, that the world is not ending, and to have hope in science and mankind to find a global solution.
What do you do now that you never did before 2020?
I took up biking during the pandemic and have been able to go greater and greater distances. It’s been a great way to get outside and explore, and build physical stamina.
What’s the biggest threat to the return to normal?
I think it is people’s own apprehension and caution. We are the impediment to the return to normal. The science on the vaccines is clear, but many people are being too cautious.
Is now the time to buy or sell?
It’s both. Given the wall of capital, it’s a seller’s market in desirable sectors and asset classes, such as multifamily, industrial, cold storage, life sciences and single-family homes for rent. It’s a buyer’s market in office and retail — sectors that are still recovering.
Suddenly, there’s a big change to the New York state constitution and you’re now named the 58th governor of the Empire State — what do you do about the eviction moratorium?
There has to be a fair and balanced solution. We need to find a way that works for both landlords and tenants alike. Landlords also have financial responsibilities and obligations; they have to pay mortgages and taxes. I don’t think it’s quite acceptable to paint landlords as the villains in a pandemic that affects everyone.
Lightning Round
Eric Adams or Curtis Sliwa?
Eric Adams.
Last time you got on an airplane, what was your destination?
Eight hours ago and my destination was Paris. I have been on airplanes continuously throughout COVID.
What vax did you get?
Pfizer.
Your go-to takeout?
Philippe Chow, the best Chinese food in New York City.
Where does your patience wear thinnest — evictions or anti-vaxxers?
Evictions. Getting vaccinated involves a personal reaction or decision, and evictions
involve a legal agreement. The two constitute a different set of rules and facts,
and it’s hard to group them in the same category.
