>>What does this tell us?
That you don’t invest $3B in an office tower and worry about what it is worth next month or the month after that - you play the long game, which I believe is what he is doing.
It takes a lot of money and a lot of time to build big office towers - and if you are worrying about what the economy is going to do 3 or 6 months from now, then you are worrying about the wrong things.
Exactly.
Hard assets.
Thank you. Go to the head of the class 🍎
I wouldn’t be making a $3B bet on how hospitable NYC will be years down the road. But then, I’m not an expert.