In their words...
The funniest and most insightful comments on real estate
“When deep-pocketed firms go on a talent tear, they may buy a few Babe Ruths, but are just as likely to end up with a few duds.” CPEX’s Timothy King, on the hiring spree expected after TPG’s acquisition of brokerage DTZ
“It’s far more sophisticated to do something like a mobile phone than it is to do an average building.”
“In many ways, fantasy is better than reality.” Savanna’s Chris Schlank, on Billy Macklowe’s lofty expectations for rents at 386 Park Avenue South.
“Don’t shy away from density.” Urban planner Dr. Sujata Govada, on how NYC can learn from Hong Kong when it comes to providing affordable housing.
“He said it like this was a positive thing.” State Sen. Liz Krueger (D), on how a developer in her district told her that most of his buyers would rarely be in the city.
It “puts a stiletto in the heart of the outdated notion that Lower Manhattan is stuffy and gray.”
“I don’t know how much Alliance for Downtown New York’s Jessica Lappin, on the Brown [University] significance of Condé Nast’s move to One World Trade Center. contributed to my success, but the ability to B.S. and maneuver in situations did. “Someday, someone I was a psychology major.” will really want it and Doug Harmon of Eastdil Secured they’ll let me know.” “Does this building duck? What are they thinking?” Comedian Chris Rock, on steering clear of One World Trade Center.
30 December 2014 www.TheRealDeal.com
Hedge fund billionaire Bill Ackman, on buying a $90 million pad at One57 so that he can flip it.
“We looked at Williamsburg and Dumbo. It seemed a little 2012.” Andrew Essex, vice-chairman of hip advertising firm Droga5, on opting to make a move to Lower Manhattan.
Starchitect Karim Rashid, on the relative simplicity of most architecture.
“It could be similar to the voter ID case in Texas.”
Attorney Peter Faber, comparing the questionable legality of a tax specifically aimed at pied-à-terre owners to a contentious Texas law that was upheld by the Supreme Court.
“He’s the ghost of Gardiner.”
Hudson Valley local John Habersberger, on absentee landowner and Hollywood superstar Robert De Niro.
“There’s an element of risk even if you do nothing.” Trinity Real Estate CEO John Pizer, on why the church has decided to enter the residential development arena for the first time. Sources: New York Times, Wall Street Journal, Saturday Night Live and TRD reporting.