The Condo Cooldown: Inventory Loans & Demand for Luxury Space in the Face of a Looming Recession

After seeing a recent boom in the development of supertall, luxury high rises along with an increased demand for modern condo units, the New York City condo industry was halted by the coronavirus. Eric S. Orenstein was a speaker on Commercial Observer‘s May 2020 webinar which addressed the impact of COVID-19 on this particular market. Eric, together with the panel, discussed the state of the condo market, how lenders are responding to relief requests on loans and who in the game is holding the most risk.