News
YESTERDAY WITH ULI & B'NAI B'RITH
March 5, 2009
| Bisnow was up bright and early yesterday morning to hear how-and-when investment tips from two all-star panels at ULI New York's"Resetting Investment Strategies" event, held at the Association of the Bar of the City of New York. |
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| The event started with a few words of inspiration from Citadel Realty's Joel Ross: The future is filled with opportunities that you don't know exist. If you've been laid off, now's the opportunity to do something better. There's a lot of wealth to be accumulated, but you have to seize the moment. |
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| The "How" panel: Joel with Cushman & Wakefield CEO Bruce Mosler; Citigroup's Tom Flexner; Dune Capital's Cia Buckley; Vornado president Michael Fascitelli, moderator; and Barclay's "Schecky" Schechner. Tom estimates we'll reach a point of clarity in three to six months. The entire country is de-levering, and the longer Washington takes with solutions, the harder the impact. Hug your existing lender, who will remain your best lender, Schecky says. Keep in mind that there will be opportunities in the future and money is on the sidelines. |
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| And the "When" panel: Moody's Merrie Frankel, ULI New York chair (third from left), with Roseland Property's Brad Klatt; Kimco's David Henry; Praedium Group's Russ Appel; NYS Common Retirement Fund's Marjorie Tsang; and AM Connell Associates' Alice Connell, moderator. Because of the undisciplined credit expansion, we must reset, recalibrate, and reformat every part of our businesses and lives, Alice notes, because '10-'11 will be some of our most advantageous years. Although every inch of the globe has been affected, the U.S. will have the most opportunities, especially in coastal cities. |
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| We took this shot of the entranced standing-room-only crowd of 425(we think Peter Slatin's dog Joy had the best seat in the house). It was almost double the expected attendance. |
