Two commercial real estate blogs, Globe St. and The Real Deal, responded to the recently released TEI Office Condominium Market Report.
http://www.tomwolfe.com/ManinFull.html
I just finished reading Tom Wolfe’s 1998 novel A Man in Full. The book portrays a high-flying Atlanta real estate developer and mogul whose fortune unravels due to the burden of a flailing economy and excessive debt. The chapters about the loan work out sessions with his bank are priceless and very fitting in today’s world.
http://knakalstreetwise.wordpress.com/
Bob Knakal’s blog StreetWise is the best commentary on the economy, New York City and the real estate market. Bob Knakal is Chairman and Founding Partner of Massey Knakal Realty Services, a New York based commercial real estate investment sales firm. His blog entries do an incredible job of explaining macro economic topics like government stimulus programs and the impact of the rise in GPD. He explains the current events in the economy relate to the New York City real estate investment market. I highly recommend taking the time to read Bob’s posts.
Durst Org/Durst Fetner Residential president Jody Durst and DFR CEO Hal Fetner spoke yesterday YM/WREA’s monthly luncheon at the University Club.
DFR is currently working on a development with Mount Sinai at 1212 Fifth Ave., and building a school on the site Durst owns on W. 57th between 11th and 12th Avenues. In addition DFR has been hired to oversee the construction of the New School’s 65 Fifth Avenue, Time Equities’ neighbor. Demolition on the building has begun and Skidmore, Owings & Merrill has been retained as the architect. I’m looking forward to a new, architecturally distinct building coming to Fifth Avenue below 14th Street. I’m not looking forward to many years of loud construction.
http://www.observer.com/2010/real-estate/nyu-gobbles-forbes-building
New York University has emerged as the buyer of the Forbes Building at 60 Fifth Avenue, which is located across the street from Time Equities, Inc.’s headquarters at 55 Fifth Avenue. In addition, NYU’s investment office is one of Time Equities’ newest tenants at 55 Fifth. In March 2009 NYU leased 5,580 square feet on the 16th floor for ten years. NYU and the New School continue their battle over ownership control of Greenwich Village.
Click here for the motherload list of market reports, predictions and outlooks. This is required reading and there will be a quiz in future posts.
http://www.nyinc.com/news/young-menswomens-real-estate-association-announces-new-board-2010
I’ve been appointed to Treasurer on the Young Men’s/Women’s Real Estate Association of New York (www.ymwrea.org). I will be providing periodic updates on YM/WREA and our events.
About YM/WREA
Established in 1948, with a membership totaling approximately 400, Young Men’s/Women’s Real Estate Association promotes greater understanding and knowledge of the real estate industry among its constituents through its monthly luncheons and wide variety of philanthropic activities including Habitat for Humanity Build Day, Central Park Clean-Up Day, an Annual Blood Drive, among others, in addition to many social functions.
Last night Stephen Colbert and Alicia keys got together to perform New York’s new theme song.
On Saturday, December 12th, 2009 thousands of Santas flooded 33rd Street. What was initially thought to be a Christmas interest in office condos later turned out to be part of the annual Santacon, a pub crawl for people in Santa costumes.
