In their words...
The funniest and most insightful comments on real estate
“Profiteers like [developer] Joe Farrell must be stopped from turning our historic village into a cheap, tacky Long Island suburb. It must not become a film set for ‘The Real Housewives’ ” Harrison LeFrak, principal and vice chairman of the family-run LeFrak Organization, in a letter to the Southampton Board of Historic Preservation & Architectural Review.
“If you’re well off, it doesn’t take a lot of effort to reorient your life, especially if New York is still an unfriendly place to die.” Ronald Weiss, a partner at Skadden Arps Slate Meagher & Flom, on how New York’s revised estate tax policies may cause more of its richest residents to flee to Florida.
“An off-market deal in New York City only means that there are 50 to 60 people looking at it.” Bromley Companies CEO Nick Haines, on the intense competition in the mid-sized investment sales market.
28 May 2014 www.TheRealDeal.com
A&I Broadway Realty’s Mark Reznik, on how the growing tensions between Russia and the U.S. are dissuading wealthy Russians from splashing cash on New York property.
“I’m trusting that that is not going to be bargained off for some fugazi affordable housing.” Community Board 1 member Paul Hovitz, on how the board will likely oppose Howard Hughes Corp.’s plans to build a 50-story tower next to Pier 17, and the future of the site.
“The more I truly cared “With our fathers, whoever about people, screamed the loudest the more ended up winning an money I argument. We talk it out.” made.” A tongue-in-cheek Eric Rudin, on how he and cousin William Rudin manage the family’s giant portfolio and how decisions were made in the past.
“There is so much propaganda in Russia, people are scared to do business here.”
Retail guru Jeff Sutton, on how empathy can lead to lucrative deals.
“If you drop by Fiji and pick up some bottled water and drop it off in NYC, you can get LEED.” Anthony Malkin, at NYU’s annual REIT Symposium, on how easy it is to get “green building” certified. Sources: New York Times, Wall Street Journal, Crain’s, Curbed, Massey Knakal conference, Baruch College event, TRD reporting.