Kevin O'Leary warned real estate investors against developing in New York following a judge's ruling that Trump must pay $355 million in punitive damages. He said the ruling sets a precedent that any developer could face arbitrarily high penalties for typical negotiations with banks over loan terms. O'Leary called it an "assault" on real estate and an "atrocity" that undermines confidence in investing in New York. He advised taking the "Trump factor" out of it and viewing it as any developer facing these risks in New York.
