#38 Inside RIPCO’s H2 Commercial Real Estate Market Forecast with Gene Spiegelman, Stephen Preuss & Adam Hakim

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On today’s episode we’re joined by RIPCO leaders Gene Spiegelman, Stephen Preuss, and Adam Hakim to unpack what’s next for New York City commercial real estate heading into H2 2025. 

From Queens investment sales and SoHo rent recovery to where capital is actually flowing in today’s market, the trio share on-the-ground insights every broker, developer, and investor needs right now.

We cover the H2 2025 NYC outlook across leasing, investment sales, and debt, exploring how interest rates, dry powder, and policy risks are shaping deals, why Manhattan is regaining momentum, and how brokers can position themselves for opportunities in the second half of the year.

If you want a clear roadmap for NYC commercial real estate in 2025, this episode breaks down the strategies, trends, and opportunities that will define the next cycle.

Connect with us on LinkedIn

Brian Whelan: https://www.linkedin.com/in/brian-whelan-43155850/

Mitchel Flaherty: https://www.linkedin.com/in/mitchel-flaherty-7b4b1064/

(00:00) Intro

(01:09) NYC Investment Sales Outlook for H2 2025  

(03:30) Manhattan vs Outer Borough Opportunities  

(05:01) Retail Leasing Trends & Rent Recovery  

(07:00) Capital Discipline and Lending Conditions  

(10:09) Closing the Bid-Ask Gap in Today’s Market  

(12:43) Who’s Really Lending: Banks vs Funds  

(13:58) Policy Risks and Developer Appetite  

(16:26) Capital Flight vs NYC’s Staying Power  

(24:56) Distress, Foreclosures & Market Resets  

(27:11) RIPCO’s Growth Story & Expansion Strategy  

(29:09) Why Brokers Join RIPCO & Culture of Collaboration  

(36:09) One-Roof Advantage: Leasing, Sales & Debt Under One Platform  

(41:56) National Expansion & Tech-Driven Brokerage  

(44:39) H2 2025 Goals and Market Predictions