Lets Have A Drink (new York)

The original Opportunity Zone program drove more than $100B into real estate and business investment, but it also faced criticism it missed its mark, failing to spur development in the areas that needed it most.The One Big Beautiful Bill Act just made OZs permanent and it aims to fix all that, tightening the rules on what areas may be designated OZs, lowering the area median income threshold and heavily incentivizing rural development.On this week’s First Draft Live, Steve Glickman — co-author of the original OZ program and CEO of Statt — said OZs have been a wild success, especially at spurring much-needed housing.“You’re talking bang for the buck that’s unparalleled,” he said.Glickman said the new rules will make OZ 2.0 even better, though how much it drives rural development all comes down to designating sites at “the nexus between need and investability.”Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

Liberation Day Part 2 has come and gone, and the U.S. has more clarity on the global trade landscape.Some of the levies will have CRE breathing easier, but some — including the 35% rate on Canada, a hugely important market for construction material imports — might be worse than the industry feared. Already, tariffs have driven construction costs up anywhere from 6% to 10%.But at least some of the uncertainty has been chipped away. How will CRE react?Cushman & Wakefield Senior Economist James Bohnaker said he expects deals to start moving forward again, though in a slow slog, not a rush. But with the U.S. is in an unprecedented macroeconomic environment, scenario planning by CRE investors is crucial.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

The rise of AI is pushing data centers to their limits. Calls for bigger, denser facilities are increasing and tenant power requirements are doubling in many markets.It’s still not enough to meet the needs of today’s market or tomorrow’s users.On this episode, Bisnow National Data Center Reporter Dan Rabb said keeping the momentum of the data center boom is all about finding power. And while possible solutions abound — microgrids and nuclear among them — being provided today aren’t going to come through fast enough.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

Though a few brave (or crazy) pioneers have dabbled with using crypto in commercial real estate, the industry has mostly sat on the sidelines for years.The reason: not enough regulation, no stability or guardrails.This week, that started to change. The passage of the GENIUS Act to create a framework for stablecoins, plus two other bills making their way through Congress, could lead to a rapid rise of building tokenization, digital transactions and rents paid by bitcoin.On this week’s episode, Savills Vice Chairman Gabe Marans said the federal framework will kick off a new era for real estate in which deals are done faster and cheaper. And he doesn’t think CRE is ready for it.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

The One Big Beautiful Bill is now law, and its impact on housing could be massive.The Low-Income Housing Tax Credit received its biggest reform in 25 years, including halving the requirements of how much of its funding must come from municipal bonds.LIHTC and the Opportunity Zones program were both made permanent, and major adjustments to OZs — including a wave of new zones to come and a new focus on rural areas — could supercharge housing development.It’s not just a welcome step from the U.S. government, Camden President and Chief Financial Officer Alex Jessett said on this week’s episode — new tax treatment and a deregulation push are absolutely critical to get housing supply up and start to chip away at the nation’s affordable housing crisis.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

U.S. foreign policy these days is a sea of uncertainty — CRE investors’ least favorite thing. From whipsaw tariffs to taxes seen as “revenge” against international players who don’t fall in line with Trump administration goals, money managers are increasingly tentative to put their money on American soil.This week, Trepp Senior Research Manager Tom Taylor discussed why it makes sense that some global investors are pulling back from the U.S., why it doesn’t worry him too much and who is still investing and in what.Register on Bisnow.com to join our next conversation live on Friday, July 11, or check back here for the conversation after it airs. 

The Federal Reserve decided yet again to hold interest rates steady at the June FOMC meeting. But CRE sees a turning point. This week, Avison Young CEO Mark Rose said the decision was irrelevant anyway. The CRE recovery isn’t coming soon, he said. It’s here now.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

Trump’s One Big Beautiful Bill is being negotiated in the Senate, and how it gets hammered out could have major implications for commercial real estate. The breadth of possible impacts are huge, from the return of bonus depreciation, which could finally make the math work on deals, to qualified business income deductions allowing CRE to write off more debt and a possible ban on state regulations on AI, which could kill local rules on rent-setting software and change the data center map.On this episode, EisnerAmper partner Ryan Sievers broke down what CRE needs to have its eye on to maximize profit and get deals moving in a new tax environment.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

With the 10-year Treasury hovering near 5% and Trump’s $3T tax plan rattling the bond market, capital costs are surging — and CRE is feeling the heat. On this episode, Peachtree Group CEO Greg Friedman dove into how the rising 10-year Treasury is impacting deals, the challenge of supporting exit caps in a rapidly shifting environment, how extend and pretend is hurting deals and why he’s still doing development deals even though he expects CRE to underperform for a while.Register on Bisnow.com to join next Friday's conversation live, or check back here for the conversation after it airs. 

Between economic whiplash, shifting policies and market volatility that changes by the hour, you need industry insights that cut through the noise. That's exactly why we're launching First Draft Live, a new weekly series that breaks down what's happening, why it matters and what you need to know to do better business. Join us live on Bisnow.com every Friday at 12:30 PM ET / 9:30AM PT for conversations with the industry's sharpest minds discussing the week's most critical stories, or catch the replay right afterwards — here on your podcast app of choice.

Bisnow has released the fourth installment of the annual story tracking the levels of gender and racial diversity among commercial real estate leaders. On this episode, we break down the latest figures, and examine the current threats that diversity programs in the U.S. -- as well as talk about how backlash and the Supreme Court rulings on affirmative action could filter through to the industry. Read More: SPECIAL REPORT: Diversity In CRE Is Rising, But The Industry's Troubles Threaten ProgressPolitical Backlash Against DEI Having A ‘Chilling Effect’ On CRE's Diversity Push

Asland Capital's Jim Simmons, speaking at Bisnow’s New York State of the market, on the importance of mixed use developments, raising money from diverse sources and getting affordable housing built in a challenged economic environment. Read more: More Uncertainty Means Lenders, Developers Need More Partners To Get Deals ClosedFormer Ares, Apollo Exec Launches CRE Investment Firm, Buys 2 Apartment Buildings

John Kim, BMO Capital Markets senior analyst covering U.S. REITs, speaks about the third quarter earnings season. Read more: Vornado Pulling Out Of New York City Casino SweepstakesDespite Outperforming Sector, SL Green Stock Being Heavily ShortedSL Green's Sluggish Leasing Sends Stock Tumbling As REIT Readies For Turnaround

Distress in real estate is prevalent in industry chatter – and in the headlines, but when it comes to sales, it is still not much of a factor. bIn fact, less than 2% of sales are distressed asset sales in the U.S., according to Jim Costello who is the chief economist at investment research firm MSCI’s Real Assets team. Read more: CRE Loan Distress Hits 10-Year High As Office Debt Crisis AcceleratesREPORT: Regional Banks See Big Jump In Nonperforming CRE Loans, Related LossesVolume Of Distressed Asset Sales On Mute As Owners Battle A New Type Of CrisisLuck And Guts Might Not Be Enough To Ride This Real Estate Cycle

JLL's CTO Yao Morin on JLL's generative artificial intelligence model, JLL GPT,  and how she thinks AI can improve the lives of brokers and help them do their job. She also discusses the widespread angst about AI, its dangers and the concerns that it will push people out of employment.Read more: ‘There’s A Degree Of Wonder’: Why New AI Tools May Finally Be The Tech That Shakes Up Real Estate

Bisnow's U.K. Editor Mike Phillips talks about the possibility of a WeWork bankruptcy, and the impact on office landlords. Read More: WeWork President, COO Heads For The ExitWeWork Skips $95M In Interest Payments WeWork Assembles Team To Avoid Bankruptcy As NYSE Starts Delisting Process

Danielle Lombardo, the chair Lockton's global real estate practice, on how the cost of insurance is killing deals, and how this "inflection point' will force the industry to work together to find a solution. Read more: ULI: CRE Insurance Availability, Affordability At 'Crisis Levels'Insurance Costs Jump 26% For U.S. Multifamily PropertiesAs Hurricane Idalia Deluges Florida, Property Insurance Exposure Exceeds $238B

On this episode, CBRE's Richard Barkham, who is the brokerage's  global chief economist and global head of research. He is talking over why the brokerage has moderated -- but not removed -- its recession prediction and his view on the where interest rates are headed. Also on the episode, distress in office and the impressive turnaround of retail. More stories on our website: 'You Sure You Want To Do This?’: Rookie Office Brokers Pursue CRE Careers Despite DownturnPolitical Unrest, Office Usage, Housing Shortage Top List Of CRE's Biggest Issues For 2024

Thomas Yoo, the CEO of Willow River Capital Management, talks about the shifts in Asian investment into USA real estate, managing different cultural approaches to business – and the environment for loan sales. Read more: CRE Awaits Signature Bank Loan Sales For Desperately Needed ‘Pricing Signals’Loan Backed By Manhattan Office Tower Blackstone Gave Up On Set To Hit The MarketDequity: A Debt, Equity And Capital Markets Explanation 

Rudin CEO Bill Rudin talks about office occupancy, the decision to turn 55 Broad into housing, doing deals with Ken Griffin and the migrant crisis. Read more: 'A Million Things Can Go Wrong': City, Developers Outline Challenges In Office-To-Resi ConversionsAnother Labor Day Came And Went Without A Spike In Office Occupancy