News
SPINOLA ON CRISIS; DEAL SHEET
May 12, 2009
| We can't seem to get enough of REBNY prez Steve Spinola! Yesterday, he gave us his views on NYC's rent regulation issue, and last night we were on hand at the Hellenic-American Chamber of Commerce annual real estate lecture at the Harvard Club to hear his take on NY's fiscal crisis—a spending problem, not a budget problem, he says. As a result, real estate is paying. |
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| Steve, right, with Hellenic-American RE chair George Constantin, says, as tax revenue's largest source, real estate's been hit hard. A 7.5% cut a year and a half ago has been eliminated. He also discussed rising sales tax and MTA fare increases. Prepare for potential recovery, he adds, but we need programs to incentivize investments. The biz community needs to be more vocal, he urges. (More photos) |
