In the wake of the financial crisis that ripped through the country, real estate pros did their best to keep their heads above water in 2009. As 2010 commences, The Real Deal asked a number of New Yorkers hailing from different parts of the real estate industry why they are glad 2009 is over. Click here to see what they said is their top reason. TRD
Three months after signing the lease, Barak Dunayer, president of Barak Realty, has opened his second sales office. In a climate of uncertainty, Dunayer said the time was right to open the Upper East Side location. “Recessions are terrible things to waste,” he said. “And when the market goes down you have a lot of opportunities to expand, if one can afford it.” Besides, “Everything is quicker and negotiable today — the rent, the terms, branding, he said. The company is paying $140 per square foot to lease the roughly 700-square-foot space on the ground level at 1458 Third Avenue, between 82nd and 83rd streets. Dunayer’s wife, Yael, who runs the company with him, designed the space. [more]
As the economy has shaken up the real estate industry, far more firms have closed offices than opened them. But another firm has added an office to the “open” column: Barak Realty, which signed a lease yesterday for a storefront space at 1458 Third Avenue, between 82nd and 83rd streets, Barak Dunayer, the firm’s president, said. The company needs to build out the 700-square-foot space and plans to open the office in November, Dunayer said. Sixteen or 20 agents, both new hires and a few “anchors” from the firm’s 237 West 72nd Street office, will work out of the new space, he said. [more]
From left: Hall Willkie, Diane Ramirez, Dottie Herman and Barak DunayerNew York City real estate is headed for momentous changes, for better or worse, industry leaders say. “We’re not going to recognize our industry when we’re through these
next few years — in a good way,” said Hall Willkie, president of Brown
Harris Stevens, speaking on a panel discussion last night as part of
REBNY’s 2009 Real Estate Master Series. Other panelists included Diane Ramirez, president of BHS sister company
Halstead Property; Dottie Herman, president and CEO of Prudential
Douglas Elliman; and Barak Dunayer, president of Barak Realty. Jeffrey
Appel, senior vice president and director of new development financing
at Preferred Empire Mortgage Company, moderated the discussion.
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