In their words...
The month’s funniest and most insightful comments on real estate
“You come
to a REBNY board meeting with me and I guarantee you everyone in that room is richer than they are smart.” Two Trees Management’s Jed Walentas, expressing his disdain for the powers that be. (New York Law School real estate forum)
“Land is back up to stupid levels again.” Scott Alper, principal at the Witkoff Group, on the price of land in the city today. (Panel discussion by Haute Living)
“I’m very close to retirement. I’m done.” McSam Group’s Sam Chang, talking for the umpteenth time about calling it quits while continuing to strike deals.
“New York is characterized by a kind of hysterical NIMBY-ism. I’ve seen a lot of Whole Foods go in, with no deleterious effects.” Former Parks Commissioner Adrian Benepe, talking about the opening of the supermarket in Gowanus and the “Not In My Backyard” mentality of some city residents. (Wall Street Journal) 28 January 2014 www.TheRealDeal.com
“The sculptural
antenna is the comb-over of architecture.” Radio host Peter Sagal, talking about One World Trade Center being named America’s tallest building. (NPR)
“We will never get what you would get in a traditional host city.” King & Grove hotel executive Jim Zito, on how New York’s glut of hotel rooms won’t translate into the same bounce that hotel owners in other cities normally see during the Super Bowl. (Wall Street Journal)
“He was rather — frugal. And I said, ‘I need to buy it.’ ” Noted sex therapist Dr. Ruth Westheimer, on how her husband’s concerns didn’t stop her from purchasing her Washington Heights apartment when it went co-op. (New York Times)
“Tax expenditures should not be used to benefit individuals with limited economic commitment to the city.” A recent Independent Budget Office report, calling for the end of 421a abatements on pieds-à-terre owned by foreigners. (Crain’s)
“In this business, you can die at your desk, unless you get Alzheimer’s. Even if you do get Alzheimer’s, they’ll probably let you keep going as long as you have a bank account.” Peter Fine of Atlantic Development. (Massey Knakal multifamily conference)