Jeff Blau rejects ‘office is dead’ claims by betting billions on new towers
The view from the observatory atop Manhattan’s Hudson Yards was clouded on a recent afternoon by smoke from distant wildfires in Canada. But that has not dimmed Jeff Blau’s outlook for the sprawling development or the high-end offices that are its speciality.
At a time when offices are dragging the commercial real estate sector into crisis, Blau, the chief executive of Related, one of the largest US developers, is planning to build 10 new towersin cities across the US and in London, an investment that will total an estimated $6.5bn.