News
STAR POWER!
March 19, 2009
| The only thing that was missing yesterday morning at the New York Post's first Dealmakers Forum was the red carpet (although Marc Ecko Enterprises' W. 23rd St. space was a spiffy alternative). Bisnow was on hand to hear top industry stars give their takes on today's market. |
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| Larry Silverstein, here with REBNY president Steve Spinola, keynoted the event, updating us on Downtown's rebuilding. Some have questioned the WTC's progress, but he points out that 7WTC was a reflection of determination and was completed against expectations. Over 10k workers are moving dirt daily, and the Freedom Tower is 100 feet above grade, while structural steel under the memorial and Tower 4 are moving along. Rebuilding will cost $20B, and when the project is finished—date TBD—it will have a $15B annual impact and create 100k office jobs, he says. |
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| Cushman & Wakefield's Bruce Mosler; Massey Knakal's Bob Knakal; NYP real estate columnist and moderator Lois Weiss; CBRE's Mary Ann Tighe; The Durst Org's Douglas Durst; and Eastdil Secured's Douglas Harmon. Looks like spring is coming to the real estate market—panelists noted signs of thawing and confidence creeping in. But they said liquidity is needed and clients remain decision shy. There are plenty of opportunities, and many people will see great wealth from this market. |
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| Carlton Group's Howard Michaels; FirstService Williams' Bob Freedman; Kennedy Funding's Jonathan Hornik; NYP real estate columnist and moderator Steve Cuozzo; Ackman-Ziff's Simon Ziff; and Meridian Capital's Ralph Herzka. Their take: The active deals are attractive ones; 1540 B'way and the New York Times HQ sale-leaseback were bellwethers, but the future of 1330 Sixth will be more indicative of the market. There's a lot of equity waiting to jump on the right price and terms, but some sellers are still not being realistic. Once deals start to happen, we'll see confidence again. |
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| If you're by 230 Park—otherwise known as the Crown Jewel—make sure to check out the new visitor's center on the south side of the building. Owner Monday Properties' Aaron Twersky (with Sun Moon Marketing's Madelyne Kirsh) tells us it just completed the 1929-inspired center (but with a high-tech twist) to match the building's historical grandeur. It's about to start renovations on the original visitor's center to match the new, he says. |
