Why ‘Peripheral’ NYC Is a Hot Investment

New York City is the ultimate “gateway” city and as such a major magnet for global real estate capital. And yet expensive real estate bets can be placed within a commute of Manhattan—cities like Yonkers and Jersey City. A veteran real estate investor and former city policymaker discusses his firm’s current strategy to invest on the periphery of New York and how perceptions of neighborhoods and commuting are changing.