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BCW, Fordham Program Offers Insight on Outlook for Real Estate Market

Top row, left to right, Kathleen Corton, Eamonn D’Arcy and Christopher Deutsch; Bottom row, left to right, Charles Dougherty, Nicole LaRusso and Timothy Jones

Top minds in real estate, economics and finance shared insights and intel into how rising interest rates, historic inflation and economic uncertainty are impacting commercial real estate in New York, the U.S. and markets abroad as part of a virtual panel discussion Sept. 7 hosted by Fordham University’s Real Estate Institute and The Business Council of Westchester.

The co-event titled “Economic Outlook and Forecasting the New York Region’s Real Estate Market” featured Kathleen Corton, CEO, CIO and Managing Partner, Hillcrest Finance LLC; Eamonn D’Arcy, professor of International Real Estate, Henley Business School, England; Christopher Deutsch, Vice President, China CITIC Bank International Limited; Charles Dougherty, Vice president and Economist, Wells Fargo; Timothy M. Jones, CEO, Robert Martin Co. LLC; and Nicole LaRusso, Senior Director for Research and Analysis, U.S. North Region, CBRE Group Inc.

The co-event was moderated by Dr. Marsha Gordon, President and CEO of The Business Council of Westchester. The hour-long discussion centered on commercial real estate in the New York region as well as in key global markets, with a focus on the economic and financial factors impacting demand and value, predictions on workers returning to offices, and other market trends affecting the industrial, retail, hospitality and housing sectors.

“We are honored to have such a distinguished panel here today to discuss these vitally important issues that are affecting the real estate market in our region and globally. We are especially pleased to once again partner with Fordham University’s Real Estate Institute,” said Gordon.

“Understanding the way people are living, working and spending their leisure time is important not just for commercial real estate, but for the way we develop our programs at the Fordham Real Estate Institute,” said Dr. Anthony R. Davidson, Dean, Fordham University School of Professional and Continuing Studies. “How we live is changing, and education must continually evolve to meet those changes.”

Those changes also bode well for Westchester County, said Gordon, noting “there is a real opportunity now to capitalize on the shifting needs of people and businesses.” She added, “The hybrid work format presents great growth potential for developers, banks and other business in Westchester County to lead the way in ensuring our infrastructure, transportation, working and living spaces are adaptable to the new type of work/lifestyle.”

Sponsors of the event were Wells Fargo, Westchester County Government, Hudson Gateway Association of Realtors (HGAR) and Simone Development Companies.

The webinar is posted on the BCW’s Facebook page.

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