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Posted: December 26, 2023
2023 Year in Review: Lisa Radetsky,
Phillips Nizer LLP
Partner, Co-Chair, Real Estate Practice
Phillips Nizer LLP
What person, project, transaction, or market trend had the greatest impact on your industry this year? The greatest challenge of leadership is anticipating trends that will impact the direction of the real estate practice, which needs to constantly adapt to meet the needs of our clients. To meet this challenge, I continually follow trends in the business world and the political landscape that impact the real estate industry. During the past year, the continued rise in the interest rates has had the most significant impact on my practice. Due to the increased rates, construction and development is less attractive to our clients. Conversely, many are now seeking opportunities to acquire assets secured by non-performing loans.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2023? Exercising the opportunities resulting from the changes in the capital markets and the new trends in energy, clients have located opportunities in financing projects that will support the electric vehicle industry, which are often eligible to receive tax incentives. Our client will realize profits from the financing that will enable the manufacturers to commence their operations.
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