Stuart Saft, Partner and New York Real Estate Practice Group Leader at Holland & Knight, with decades of experience in real estate law, highlights the unique challenges and opportunities within the real estate sector in 2025. His extensive background, including representing luxury hotel and condominium projects, provides a comprehensive view of the industry’s current state.

One of the most pressing issues Saft identifies is the lack of housing development, which exacerbates supply shortages and drives up costs. He criticizes price controls as ineffective solutions that distort the economy. Instead, Saft advocates for increasing housing supply to naturally reduce costs and stimulate economic growth. His perspective is rooted in a belief in capitalism’s ability to expand resources and wealth for broader societal benefit.

Saft also reflects on the unusual economic indicators of 2025, noting initial optimism that was tempered by tariff-related pessimism. His experience through multiple real estate cycles informs his cautious outlook on the economy’s direction. Additionally, Saft shares a detailed account of a challenging transaction involving the conversion of the Crown Building into Aman New York, illustrating the complexities of real estate development in a dynamic urban environment.

Looking forward, Saft proposes ambitious solutions to revitalize the U.S. economy, including the creation of factory zones in the Northeast and Midwest and the development of high-speed rail systems to connect these areas. He emphasizes the importance of reducing reliance on Asian supply chains to enhance cost-effectiveness and diminish China’s economic influence. While acknowledging the long-term nature of these projects, Saft stresses the urgency of beginning such initiatives to address current economic stagnation.

Through his insights, Saft underscores the interconnectedness of real estate development, economic policy, and global trade dynamics. His recommendations aim not only to address immediate challenges in the real estate industry but also to lay the groundwork for sustainable economic growth and resilience in the face of global uncertainties.

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