Dr. Sam Chandan discusses the current state of the real estate market and the challenges it faces, including lower property valuations and uncertainty around property values. He also talks about the Federal Reserve's monetary policy and its focus on restoring price stability. Dr. Chandan highlights the changing relationship to office spaces and the need for innovation in how we use spaces. He emphasizes the importance of public and private sector leadership in addressing climate change and building decarbonization. New York City is seen as a climate capital and a leader in sustainability and decarbonization efforts.

Takeaways:
- The real estate market is facing challenges such as lower property valuations and uncertainty around property values.
- The Federal Reserve is focused on restoring price stability and is not in a hurry to lower interest rates.
- There is a changing relationship to office spaces and a need for innovation in how we use spaces.
- Public and private sector leadership is crucial in addressing climate change and building decarbonization.
- New York City is becoming a climate capital and a leader in sustainability and decarbonization efforts.