Friday, September 28, 2007

RealShare New York Real Estate Conference

Attended 6th annual RealShare New York's real estate conference last Wednesday. According to Globe Street:

...John Bralower, president and managing director of the Carlton Group, noted that "we are fortunate that we have so many drivers in the city. We can weather anything except the most severe crisis." He explained that one such driver that New York City has is that "people from all over, including overseas, want to be here."
...the worst case scenario being a national recession, panelists still remained optimistic that the city could handle it. "Most companies in New York City today earn a lot of their earnings from the global market," Kuriloff said. "If you look at the supply, Manhattan's vacancy rate right now is 5.5%, and if we had 50,000 job cuts for example, our vacancy rate would go up to 9%."
In addition to the prevalent view that New York City will weather the credit crunch crisis better than the rest of the country I was pleased to find a great deal of interest in building Sustainable and Green by those in the real estate industry.

Also, Bill Rudin gave a very interesting interview about his father Lew Rubin's advocacy for NYC during the mid 70's and continuing through the rest of his life.

I was disappointed by the answer given by a Massey Knakal Brooklyn based broker to my question regarding the impact of local neighborhood real estate blogs on "emerging neighborhoods". Concerning these blogs the broker commented that he primarily sees only "alot of negativity" from them. Contrast that statement with post from Brownstoner today about local Brooklyn bloggers:
Councilman Bill de Blasio organized a Brooklyn blogger gathering on Wednesday night, ostensibly because "more and more of my constituents say they're getting their news from blogs."
Image is part of sculptor Tom Otterness's Roosevelt Island sculpture "The Marriage of Real Estate and Money, the subject of this prior post.


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