What will a Trump presidency mean for NY real estate?

Mr. Trump has emerged as the victor, some real estate executives are voicing their enthusiasm for an administration that they hope will be friendly to business.

“A lot of people want to jump on the winner’s bandwagon,” said Pamela Liebman, the president of the Corcoran Group. William C. Rudin, the chief executive of Rudin Management, supported Hillary Clinton’s candidacy, but a week after the election, he said: “I’m looking forward, not backwards.”

A Trump victory will likely improve the fortunes of some New Yorkers. Proposed tax breaks aimed at the wealthiest Americans could reinvigorate a flagging luxury housing market, looser government regulations could benefit business and infrastructure improvements could spur job growth.

Mr. Trump promises to not only cut taxes and regulations, but also to invest in infrastructure and jobs, a potential boon for business. “Once you start creating jobs, development follows,” Mr. Rudin said.

The stock market plunged on election night but recovered the next day, a sign that investors are confident in the future, business leaders said. “When you get behind all the babble and all the buffoonery, you have to ask yourself, what are his instincts and what is he about?” said Joshua Stein, a commercial real estate lawyer. Mr. Trump’s business instincts “are probably good for the economy and good for real estate.”