Law360: Neveloff Comments on Outlook for NYC Hotel Development Market

Real Estate partner Jay A. Neveloff was quoted in a Law360 article about the outlook for the hotel development market in New York City. Mr. Neveloff said that he believes construction financing is more available than it has been, with the easing of financing and equity from U.S. and foreign developers, equity partners and management companies, and that interest rates are unlikely to rise so high in the near term to negatively impact any deals. Mr. Neveloff also said that the hotel sector in Manhattan would likely look for new areas to develop in Midtown if the proposed new Midtown zoning is approved.