CBRE Bullish on NYC’s Prospects for Long-Term Growth, CEO Says

Real estate services giant CBRE Group Inc. is optimistic about long-term growth in New York City, its chief executive officer said, even as companies are drawn to lower-tax markets in the US.

While CBRE has seen strength in places such as Texas and Florida, New York remains its biggest market in the world, Bob Sulentic said in an interview with Bloomberg Television.

CBRE had “a spectacular first quarter in New York City” and doesn’t expect a pullback as a result of the tax environment, Sulentic said. The firm also has large operations in London and Tokyo, and expects continued success ...