Local CEO Sonny Bonacio shares how to navigate unpredictability and thrive in today’s real estate market
These days, successful real estate development requires optimism, tenacity and a willingness to take measured risks. Over the past four years, Bonacio landed three major projects totaling $330 million, and I owe this to having a long-term mindset about our business relationships despite the short-term unpredictability of the market.
Interest rates fluctuate, regulations shift and market cycles evolve. In real estate, adaptability remains the only constant. The last 30 months haven’t offered us ideal interest rates, but we’ve seen stability emerging in area economies. So, we cast our bets across the Northeast, especially in growing communities like Saratoga, Glens Falls, Schroon Lake and Rome in Upstate New York, where a handshake and a mutually agreeable vision are worth their weight in gold. Driven by that vision, reinvestment is transforming these communities’ business landscapes, fueling job growth and creating increased demand for new residential and commercial projects.