S
tuart Saft is a partner and New York Real Estate Practice Group Leader at Holland & Knight, co-chairing the firm's Global Condominium Development and Conversion Group. He represents clients in luxury hotel and condominium projects, office conversions, and residential developments. With over three decades of experience as board chair of the Council of New York Cooperatives & Condominiums, Saft has also chaired the New York City Workforce Investment Board for 15 years.

    Saft's entry into real estate law was accidental. After graduating from Columbia Law School and working in corporate law, a client asked him to handle a second mortgage on a shopping center, leading to his transition to full-time real estate practice. He began writing articles and books on the subject to help future lawyers navigate the field.

    One of Saft's most challenging transactions involved converting the Crown Building at 57th and Fifth Avenue into Aman New York, a luxury hotel, residences, retail space, and jazz club. The project required negotiating with the original purchaser, analyzing the building's layout, and executing a Development Agreement and Condominium Declaration.

    Saft has experienced multiple real estate cycles, noting that each downturn starts in New York before spreading to the rest of the country. In 2025, he initially predicted a strong economy but became concerned after the Tariff situation in April caused pessimism.

    The biggest challenge facing the real estate industry today is the lack of housing development, leading to shrinking supply and growing demand. Saft advocates for increasing the supply of housing through factory zones in the Northeast and Midwest, producing essential products domestically. He suggests building high-speed rail systems between these zones to reduce carbon footprints and control costs.

    Saft proposes creating huge factory zones in the Northeast and Midwest to produce goods needed in the US, accompanied by high-speed rail systems for efficient transportation. This would bring the supply chain back from Asia, reducing China's control over the economy and making production more cost-effective.