CNBC’s Diana Olick sits down with Richard LeFrak.
CNBC Property Play brings you interviews with some of the biggest names in real estate, touching on everything from commercial and residential to finance and the mortgage markets, innovation in the industry and the growing risk to assets and operations from climate change.
After nearly six decades in real estate, Richard LeFrak has seen it all. Now, the LeFrak Organization CEO, says the era of “extend and pretend” is ending, creating new opportunities for investors with patient capital. He joins Diana Olick to discuss where he sees opportunity, the outlook for New York and South Florida, AI’s potential to cut construction costs, and why his “build and hold” strategy still works after 58 years.
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