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Top of the market is extremely crowded: Kushner, Naftali

From left: Jared Kushner, Miki Naftali and Leonard Steinberg Developers Miki Naftali and Jared Kushner, as well as top Downtown broker Leonard Steinberg, spoke today to a standing-room-only crowd at the Lower East Side’s New Museum during a panel discussion on the future of real estate. The discussion kicked off with a look at the state of Manhattan’s luxury market. “The question right now,” Naftali said, “is that is it high-end, ultra-high-end or ultra-ultra-high-end?” The reality of soaring land costs, he added, means that relatively affordable in Manhattan is under $2,000 per square foot. “The $5,000 to $7,000 square-foot-market is a very crowded market,” Naftali …