News
NY Interlude
October 19, 2009
| Sinced we also publish daily in NYC, we thought you might enjoy knowing a little about what's happening in the Big Apple. Last week, we gathered six of its top real estate figures for a Bisnow Breakfast & Schmooze. Know this, Chicago: We still love you. It's not cheating if 650 other people were there. |
 |
| Our event packed historic Cooper Union, the same cavernous space where seven US Presidents have spoken since it was built in 1859. One of our panels, which included Cushman & Wakefield global CEO Bruce Mosler, CBRE Tri-State President and CEO Mitch Rudin, and Goldman Sachs real estate co-head Andy Jonas, said now?s a great time for tenants to lock in rates, as today's opportunities far exceed the benefit of waiting to get the last dollar on the deal. |
 |
| Vornado CEO Mike Fascitelli keynoted (his behemoth firm owns the Merchandise Mart among other ?Kennedy? properties). Mike says Vornado is hoarding $3B in cash until opportunity knocks. On the leasing side, he says his directive is to keep buildings full; concessions are up and space is being built out for tenants. He also says retail's seeing a lot of vacancies, but may be one of the best buying opportunities, depending on what the consumer does the next five years. |
