6/24/2019 | By Nareit Staff
David Bistricer, co-chairman and CEO of Clipper Realty Inc. (NYSE: CLPR), joined Nareit in New York for a video interview at REITweek: 2019 Investor Conference.
Bistricer described New York’s economy as “diverse,” noting that the variety of business from financial to manufacturing have helped the city’s commercial real estate survive various downturns over the past decade better than other U.S. cities.
“There’s a lot of people in this city, and the population is growing,” Bistricer said. “That keeps it a vibrant economic place.”
Bistricer noted that Clipper Realty finances each property individually, and that when rates are low, the company has made sure to put properties like its Flatbush Gardens and Tribeca House Properties on long-term financing.
Bistricer also said the REIT anticipates investment opportunities in the residential space through the end of the year.