Scott Rechler, Jeffrey Levine, Hal Fetner and Kenneth Horn, the heads of
RXR Realty, Douglaston Development, Durst Fetner Residential and
Alchemy Properties, respectively, were just some of the top-flight real estate executives that attended Michael Stoler’s “Stoler State of the Market” conference yesterday, at the Graduate Center of the City University of New York (see photos above). Stoler asked direct, probing questions covering the availability of debt and equity, financing, expectations for 2012 and residential market from the private equity perspective. Those four topics were discussed by 32 panelists in front of an audience of more than 200 people.

Many panelists were optimistic looking forward. AKA Hotels & Korman Communities co-President Larry Korman said he expected a big year in 2012 as money comes off the sideline and returns to the investment game. – Marc Becker [more]

Aside from some sushi and a few much-deserved drinks, it was almost exclusively business last night at the Young Jewish Professionals’ real estate summit, where eager young brokers and other real estate pros gathered to hear New York’s top property dogs talk about the reliably inconsistent market (see photos above).

Vantage Properties CEO Neil Rubler, Extell Development President Gary Barnett, Jamestown Properties President Matt Bronfman and Angelo Gordon & Co.’s Adam Schwartz sat on the panel, fielding questions from the evening’s moderator Bruce Cybul, a partner at the law firm of Schulte Roth & Zabel.

It all turned strangely philosophical at points, as the team of property moguls doled out advice to young pups in the audience trying to make it in the business. “When the going gets good,” Barnett exclaimed, “get going. When the going gets very good, get out!” Others, such as Rubler, pointed to the importance of surrounding oneself with the right kinds of people. – Katherine Clarke [more]

Matt Bronfman, COO of Jamestown Properties and be@Schermerhorn

Jamestown Properties has purchased the mortgage for be@Schermerhorn at 189 Schermerhorn Street in Downtown Brooklyn. The asset management company, which has headquarters in Atlanta, Ga. and Germany, said that it was in a unique position to invest in the 246-unit condominium, developed by SDS Procida and scheduled to be completed early next year. The building, which is between Smith and Hoyt streets, will definitely be going condo, not rental, according to the spokesperson, despite speculation otherwise. The Real Deal reported in its November issue that the condo’s sales figures were lagging, while other media outlets reported this month that the development was 90 percent vacant. “We are committed to the Brooklyn market,” Matt Bronfman, COO of Jamestown Properties, said in a statement released today. “We believe our ability as a highly liquid investment company, coupled with the seasoned market knowledge of SDS Procida, will deliver a successful project.” [more]