News
B'NAI B'RITH'S RESIDENTIAL UPDATE
March 5, 2009
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| Afterwards, we headed to B'nai B'rith's monthly luncheon at the Cornell Club to hear Miller Samuel's Jonathan Miller (in a $800 suit he bought for $39) give a residential update. His views: Although NYC only started feeling the housing pain last year, we had advance warning as transactions dropped yet prices didn't fall. September was the tipping point, with the AIG, Freddie, and Fannie bailouts; apartments in December were 20% cheaper than August. The higher-end market will be hit hardest, but there will be opportunities for first-time, sub-million buyers. The next four years? More pain, then stabilization. |
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| Will the real Robert Shapiro please stand up? Grubb & Ellis' Robert says that City Center Real Estate's Robert is the original, with over a decade more of experience in the industry. The latter has been responsible for the land assembly of many properties around New York, including the Gershwin Theater and Crowne Plaza. |
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| Benchmark Title's Thomas DeCaro (left, with Berko & Associates'Steve Schlossberg, and Lexin Capital's Adam Hanski), just returned from a weekend trip to Vermont. Our snowfall was peanuts compared to the foot-and-a-half he left behind. |
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| Haves, Pine & Seligman's Danielle Pisano, Citi Habitat's Joe DeLorenzo, and Force 5 Studio's Sherri Wierzba have been quite the busy bees lately: Joe says residential sales and rentals are actually up for him; Danielle's working to make financing available; and Sherri's rolling out a new full-screen photography product for property listings. |
