2018 Global Leaders in Real Estate Summit: How do you get a deal done in New York?
Attendees of the most recent Global Leaders in Real Estate Summit discuss how to close a deal in New York.
Mike Lefkowitz: How do you get deals done in New York City? Patience and persistence. It’s really a very competitive market. You have some of your best and your brightest in the industry here, and I always find that patience and persistence are what helps get it done.
Jamar Gordon: It takes patience, understanding of the market, understanding how to structure the finances for the particular transaction.
Know, the market and be of the market instead of somebody coming into the market from the outside, that's really what defines the Manhattan real estate market—the people that are getting deals done are in Manhattan.
Amy Sole: So it takes a lot of fortitude and a lot of time and effort making relationships and working to get a deal over the finish line and thinking out of the box and being creative.
Conlyn Chan: For us it's about relationships. Working with a trusted partner and the sources. It also comes down to the numbers, the numbers have to make sense.
John McClatchy: The key is being able to move quickly. Property comes up for sale. You have to be able to buy it.
Andrea Himmel: It's also about doing the due diligence in potentially partnering with the right equity guys if you need the capital.
Attendees of the most recent Global Leaders in Real Estate Summit discuss the hottest areas for real estate development and investment. Real estate investment is driven by e-commerce and retail trends in Manhattan and Pennsylvania.
Attendees of the most recent Global Leaders in Real Estate Summit discuss where capital will be coming from next year.
Attendees of the most recent Global Leaders in Real Estate Summit discuss opportunity zones, which include deferral of tax on capital gains and an exclusion of tax on certain assets, and are a great tax shelter for Section 8 or senior housing.
Attendees of the most recent Global Leaders in Real Estate Summit discuss foreign investment in the U.S. real estate market by Canada, Europe and countries in Asia such as China and Japan. Private equity seems to be flush with capital.
Attendees of the Global Leaders in Real Estate Summit discuss where the real estate sector is heading over the next couple of years, including the potential for a New York real estate market bubble-burst, local economics and regulation.