Among the many stunned and surprised by Donald Trump's presidential victory are surely those at Forest City Ratner, who landed Hillary Clinton's presidential campaign as tenant of two floors at One Pierrepont Plaza in Downtown Brooklyn, as I wrote in April 2015.
Forest City and Chairman Bruce Ratner needed tenants in the building--we don't know if there was a discount, but it was a bargain for Clinton compared to Manhattan. Surely one Forest City calculation was that the relationship would be a good start with the country's putative next president. And soon there will be two floors to fill.
The Real Deal, in its post-election round-up, quoted Forest City's CEO:
In an interview before the election, MaryAnne Gilmartin, CEO of Forest City Ratner Companies, told TRD that she “cringe(s) at the thought that people would think that Donald Trump’s professional aura lines up with what being a developer in New York City is like.” She added, “As a mother of a daughter, as a woman, and as a professional, it’s just antithetical to what we’ve been fighting for.”And the larger policy issues
Also see coverage in Crain's New York Business, President-elect Trump unlikely to hurt real estate industry that made him, which suggests interest rates will remain low, but leaves lingering questions:
"While programs like the low income housing tax credit and Section 8 vouchers were created as bipartisan initiatives, the Republican policy platform launched this year didn't address affordable housing at all," said Rachel Fee, executive director of the nonprofit New York Housing Conference. "We have no idea what to expect in terms of federal priorities."
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