City’s Most Active Landlords Talk Shop in Third Owners Magazine | HAP

Eran Polack

CEO, HAP Investments

Presented by AT&T
att globe 4cp grd1

What’s your real estate prediction for 2015? I think the market will continue to remain strong.

Where in New York is there still untapped potential for real estate development? Harlem and Washington Heights.

What area in New York is “overdeveloped”? 57th Street and West Chelsea will be.

Is the New York market reaching another bubble? Not for another five to seven years.

Will Queens, Staten Island or the Bronx ever experience the sort of boom Brooklyn has recently enjoyed? Queens maybe. But, nothing compares to Brooklyn’s diverse culture.

What about areas just outside the city like Jersey City or White Plains? I am very bullish on Jersey City. We are developing a 42-story, mixed-use tower in Journal Square.

What are the odds of a refigured Midtown east rezoning being approved in the next year? I don’t know.

Which area of the city is most in need of infrastructure improvements? I don’t know.

Which overseas real estate market do you think has the greatest potential? Africa.

What’s your favorite local restaurant? Gramercy Tavern.

Which fellow owner do you admire most? Michael Stern of JDS.

Outside of the boardroom, what’s the best place to bond with fellow owners? I like going to sports events.

Is Mayor de Blasio helping or hurting the New York real estate industry at this point in his tenure? Please explain why. I don’t think we can tell yet. Let’s see if his proposed policies take effect.