New York Real Estate Executives Doubt de Blasio's Support of Commercial Property Owners' Interests, According to Survey by Marks Paneth

Marketwired

NEW YORK, NY--(Marketwired - Dec 17, 2013) -  Most New York City commercial real estate executives say they're not confident Mayor-elect Bill de Blasio will support the interests of the city's commercial property owners, according to a new survey by accounting firm Marks Paneth.

By contrast, the vast majority of commercial property executives -- 76% -- gave Mayor Bloomberg high marks for his support of commercial property owners' interests in a similar survey conducted at the end of 2012.

In the most recent survey (November 2013), only 7% of New York City commercial real estate executives said they're "very confident" that de Blasio will strongly support the interests of the city's commercial property owners. On the other hand, 21% said they're "not at all confident" and 35% said they're "not too confident."

The findings come from the Marks Paneth Gotham Commercial Real Estate Monitor, a periodic survey of 100-plus top commercial real estate professionals in the New York City market, including owners and managers, brokers and agents and attorneys and accountants specializing in the sector.

"The city's commercial property industry, based on the survey results, is clearly bracing for a mayoral administration far less friendly to real estate interests than the current one. Of course, the jury won't be in on actual policy for quite awhile," said William H. Jennings, Partner-in-Charge of the Real Estate Group at Marks Paneth.

Methodology
The Gotham Commercial Real Estate Monitor from Marks Paneth represents the findings of a survey of over 100 top commercial real estate professionals in the New York City market. Professionals participating in the research include owners and managers of commercial property, commercial real estate brokers and agents, and attorneys and accountants specializing in the sector. The inaugural survey was completed in January 2013 and the second in June 2013. The research employed self-administered questionnaires completed online by respondents. The list of professionals surveyed was compiled by Marks Paneth, the research sponsor. In addition, a link to the survey site was included in an online trade publication. Interviews were completed during the period of November 7-30, 2013.

To receive a copy of the Winter 2013 Marks Paneth & Shron Gotham Real Estate Monitor and/or to survey with one of the MP&S leaders who fielded the survey, please contact Katarina Wenk-Bodenmiller of Sommerfield Communications, Inc. at Katarina@sommerfield.com or 212-255-8386.

About Marks Paneth & Shron LLP

Marks Paneth LLP is an accounting firm with over 500 people, of whom nearly 65 are partners and principals. The firm provides public and private businesses with a full range of auditing, accounting, tax, consulting, bankruptcy and restructuring services as well as litigation and corporate financial advisory services to domestic and international clients. The firm also specializes in providing tax advisory and consulting for high-net-worth individuals and their families, as well as a wide range of services for international, real estate, media, entertainment, nonprofit, professional and financial services, and energy clients. The firm has a strong track record supporting emerging growth companies, entrepreneurs, business owners and investors as they navigate the business life cycle.

The firm's subsidiary, Tailored Technologies, LLC, provides information technology consulting services. In addition, its membership in Morison International, a leading international association for independent business advisers, financial consulting and accounting firms, facilitates service delivery to clients throughout the United States and around the world. Marks Paneth, whose origins date back to 1907, is the 34th largest accounting firm in the nation and the 16th largest in the New York area. In addition, readers of the New York Law Journal rank Marks Paneth as one of the area's top forensic accounting firms for the fourth year in a row.

Its headquarters are in Manhattan. Additional offices are in Westchester, Long Island and the Cayman Islands. For more information, please visit www.markspaneth.com.

Contact:

Katarina Wenk-Bodenmiller
Sommerfield Communications
Phone: (212) 255-8386
Katarina@sommerfield.com
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