FIVE FACTS THAT MAKE AN IMPACT: Real Estate Mogul Bruce Mosler Focuses on Changes in NYC Market

An icon in the world of real estate and a widely respected and influential professional shaping the skyline of New York City today, Bruce Mosler, chairman of Global Brokerage & the Veterans Initiative Program at Cushman & Wakefield Inc., spoke on April 24 at the Whitman School’s celebration of Whitman Day.

Mosler has leased millions of square feet of real estate worth billions of dollars during his career and has been referred to as “one of the most energetic and successful” executives in the industry. From 2005 to 2010, he served as president and CEO of Cushman & Wakefield, leading the firm to $2.1 billion in sales and diversifying its revenue stream by 40% through expansion into Europe and the Asia-Pacific region. He is the recipient of numerous awards and honors and is a staunch supporter of U.S. veterans and military families, including participating as a member of Syracuse University’s D’Aniello Institute for Veterans and Military Families (IVMF) External Advisory Board.

The Whitman Day fireside chat was facilitated by long-time Whitman supporter and Syracuse University trustee Hal Fetner ’83, president and CEO of Fetner Properties, a leader in sustainable high-rise living and property management in New York City—and long-time friend and colleague of Mosler.

Mosler shared some of the insights and wisdom he has learned over his career in New York City real estate, highlighting the division in New York City’s real estate market as a defining trend. This divide is evident in the strong demand for Class A properties and new developments, which continue to attract businesses seeking advanced amenities, sustainable designs and state-of-the-art features. Conversely, older and lower-tier properties are struggling to match this demand, as companies increasingly focus on quality over cost when evaluating their workplace strategies. This shift reflects an industry-wide evolution driven by the need to support workforce productivity and innovation.

Mosler explained how the city’s real estate market has changed dramatically since people were working remotely during the pandemic. “But the next year, we had 10 million square feet released, and last year the company came back to 32 million square feet,” Mosler says, noting that current office occupancy in New York City has returned to approximately 75 to 80%.

Here are five pieces of advice Mosler shared with Whitman students and faculty:

Companies are hiring differently today.

Mosler notes that coming into a career with the expertise and a Whitman degree is “spectacular,” but today there’s more to success than just a college diploma. For example, employers in real estate are looking for talent in analytics, consulting, appraisals and the ability to read a spreadsheet, in addition to a desire to produce revenue.

“Students often don’t understand they’re coming in at ground zero. Success is built step-by-step. It’s a game of inches. If you skip steps you’re missing part of the initial knowledge, and that will come back to bite you,” he says.

Mosler explained that companies are hiring much differently than in the past. “When we hire, we look at how soon people will be able to contribute something. Working hard is no longer good enough. Do things that separate you from the pack because there is a lot of competition out there,” he says.

“We are always looking for talent,” adds Mosler, a great supporter of finding opportunities for military veterans. “That’s why we like to hire veterans because they are the best and the brightest. If you can run a nuclear power plant on an aircraft carrier, do you think you can manage a portfolio of properties with a chiller plant? Yes!”

Learning AI is a necessity for serving the client.

Mosler acknowledges that AI is going to have an enormous impact on the real estate industry, which has traditionally not been terribly high tech. He notes that those coming into real estate are going to have to be proficient in AI tools.

"AI is transforming the real estate industry, creating new opportunities to enhance client service and streamline operations," Mosler explains. "While technology will change the way we work, it will also open doors to new roles and skill sets. At Cushman & Wakefield, we are focused on leveraging AI to empower our teams with advanced tools—like data-driven negotiation models and aggregated insights—so they can deliver exceptional value to our clients. The key is to embrace AI as a complement to human expertise, ensuring it enhances, rather than replaces, the critical role of professionals in the industry."

However, Mosler cautions that the biggest challenge of AI is making sure there are no security risks to data, individuals and their clients, something Cushman & Wakefield is continuing to prioritize every day.

Lean on mentors who have the wisdom.

A good mentor accelerates your learning curve, according to Mosler, who encourages those starting their careers to seek out one or more people happy to give guidance and advice, as well as a willingness to tell you when you’re wrong.

“Of course, you can look up information you need to know, but a good mentor can give it to you in five minutes. Especially when you’re starting out, learn from someone who has the wisdom, and lean on other people,” he says. “I, myself, continue to have mentors because the learning process never stops. These are people who help me be better at what I do daily and support, educate and advise me on issues that revolve around our clients.”

Deliver what your constituencies want.

In the commercial real estate market, knowing what people want in a property is essential. New York City’s real estate market is highly divided, with Class A trophy buildings and new development projects approaching single-digit vacancy rates. Live-work-play are how the best landlords are designing their buildings or developments. As people return to the office, they places where employees can thrive, according to Mosler.  

Employees and businesses are seeking spaces with integrated green areas, collaborative environments and innovative amenities. These features are no longer optional but are critical for companies focused on attracting and retaining top talent in an increasingly competitive market. To successfully lease in today’s market, it is vital to align with the preferences of tenants and landlords. Properties that offer hospitality components, shared common spaces and tenant-focused amenities cater to the evolving expectations of businesses and their workforce.

“I can’t overstate the need for every building to have a hospitality component. It’s a trend in real estate that is going to stick,” says Mosler. “Individual tenants don’t want to bear the cost of that in their own space. Amenities are a loss of income, but quietly rents have risen almost 15% over the past 18 months, and that more than offsets what the investment in the space.”

Uncertainty is a certainty.

Given the recent volatility of the U.S. economy, no one knows what the future holds. “Uncertainty is a certainty,” Mosler says. “It’s something we’re used to. Regardless, New York City is still the leader in finance, legal, real estate, etc.,  and there are many job opportunities in this vibrant place. In response, however, real estate clients want options to contract and to grow. They want to build flexibility into their leases. They want a stable and predictable cost in housing their folks. But I believe that through the uncertainty, we will grow, but slowly, and build flexibility into business.”