News
BACK TO BRICKS; NAVY YARD; FXFOWLE
August 5, 2009
| We’re getting closer to banks owning real estate through foreclosures and will move from loan sales back to selling bricks, says Eastern Consolidated senior director David Schechtman, who’ll be a panelist at our Bisnow Breakfast & Schmooze August 13 (more info below). |
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| Pricing reality is setting in, and lenders realize that fundamentals have eroded, and now is the time to capture pent-up demand for distressed product. Pooled loan sales generally are unsuccessful in the tri-state area and are being broken up; he notes that it may work for 500 single-family homes outside of Phoenix, but the NY metro is better suited to a one-off deal. Want to hear more? Register here for our August 13 event. |
