New York City May Take a Decade to Recover from Coronavirus Pandemic
August 31, 2020
Article by: Kevin Stankiewicz
- “I think New York will ultimately come back. It’ll come back differently. It’ll be a different place, and it will be much more affordable,” real estate developer Don Peebles told CNBC on Friday.
- But Peebles, CEO of privately held Peebles Corporation, said, “I think it’s going to take New York about a decade or so to dig out of this. Maybe longer. But it’s not going to be soon.”
- Peebles said New York City is facing increasing competition from places like South Florida and Nashville, Tennessee.
Read the full article: https://cnb.cx/2DdqICU