Where is Wildflower going to be in 2026?
Wildflower will have built another multi-
billion-dollar development platform based on a singular strategy. We thrive by examining where the U.S. is evolving, the unsolved infrastructure issues it creates, and understanding where that intersects with real estate.
Where is Wildflower going to be in 2028?
Our approach is the opposite of the family real estate dynasties in New York City. For them, grandpa was savvy and entrepreneurial and built a fortune, which he passed on to future generations. Most of the families sit with grandpa’s properties, and live off his distributions on Park Avenue and in Easthampton, trying desperately not to screw up. It’s fear-based, and, frankly, dreadfully boring.
Wildflower is less focused on what happened five to 50 years ago and more attentive to what is happening next. By definition, this creates a resilient platform, and a fun and impactful one, too. The firm operates more like a sports team than a family. The health and success of the franchise relies on fresh talent. When the talent has earned their Super Bowl rings and made their retirement earnings, they leave the team to find other adventures, and young and hungry talent takes their place. It’s an organic process much like the cycles of nature.
Where is Wildflower going to be in 2033?
Wildflower is going to be among the country’s most innovative development firms. How that manifests itself depends on where unfulfilled demands evolve and how we can have the most positive impact on this marvelous city we call home. Certainly, we will continue to tilt more toward public infrastructure — because the need is urgent, funding is widely available and better understood, and the public sector is more divided and less effective.
When will we know the market has stabilized? (Be specific!).
There will not be true price discovery until we have reached peak interest rates. Once rates have stabilized, then financing costs, leveraged yields and cap rates within asset classes can be quantified.
How do you think the 2024 presidential campaign will impact the commercial real estate market?
I’m a centrist Democrat and my father-in-law is a flag-waving Trump Republican. I absolutely love and adore the guy, and actively look for our common interests and goals rather than focusing on our headline differences. The opportunity for us all as Americans and as New Yorkers is to recognize and herald our common values and goals and work together to achieve them.
What business advice are you most tired of hearing?
I’m not tired of people over 50 telling me the office market is poised for a rebound, because I think it’s incredibly funny to hear people talking about their own book. People under 40 understand that five days a week in the office is over forever.
What’s the biggest market opportunity as we round out 2023?
We focused on building our existing development sites as we waited to reach peak interest rates and price discovery. Thrilled not to have closed any acquisitions this year.
Have you had a lot of staff turnover?
Wildflower has had exactly one resignation in the past five years. That partner took their pot of gold and retired out of the region.
Who do you like for POTUS in 2024? Like is a strong word. But of the probable options … Biden.
Do you feel personally safe moving through NYC? Absolutely. And fun.
Jerome Powell: Are you a fan or critic? We have a housing/homeless/affordability crisis, and development no longer pencils out because Powell has manufactured the highest rates in over two decades. Overly narrow and aggressive reaction to inflationary pressures is not productive once larger forces are examined.
Can’t-live-without technology now? Waking Up meditation app.
Elon Musk is …? True visionary.
Taylor Swift or Beyoncé? Two goddesses. Why choose?
Artificial intelligence — good or bad? Inevitable.
Mischa’s or Nathan’s for a hot dog? My grandfather would take me to Nathan’s in Coney Island as a boy. French fries on the boardwalk for me.
Netflix or Hulu? Netflix.
What character are you in “Succession”? Ask my sons.