News
BACK TO BASICS
May 7, 2009
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| We also dropped by the Algonquin Hotel (greeted by resident feline Matilda, of course) for CCIM New York's breakfast focusing on new rules in lending, banks, and assets. Chapter president Paul Fetscher of Great American Brokerage (right), with the panelists: Eastern Consolidated's David Schechtman, Arent Fox's David Dubrow, NY Community Bank's John Adams, and NYU Schack Institute's Larry Longua. |
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| John (right) with Kafarski Equities' Robert Kafarski, Pergolis Swartz's Barry Swartz, and iHopeUSA's Thomas Sablosky. We've been thrown plenty of acronyms lately, so here's another to describe the rest—GASP, or what the panelists called the "Government Alphabet Soup Program." They broke down the fed's involvement in market recovery, and Larry noted that we're in a cycle deeper than past. But there are positive signs, such as a closing bid-ask gap and investment interest. We're now back to basics, John says, so focus on cash flow and core biz. |
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| Sunburst Advisors' Jordan Spiegel and Massey Knakal's Al Holloman, both chapter officers. Jordan focuses on Manhattan street retail, while Al hones in on multifamily, especially in Astoria and Long Island City. Al tells us the sector is easier to underwrite these days, thanks to a dependable income stream. It's resulting in transactions, and he expects strong third and fourth quarters. (More photos.) |
