With the volatile real estate debt market, now is certainly an interesting time to become further entrenched in the industry -- so says
, the chairman and CEO of the Carlton Group, which recently launched the Carlton Exchange Web site where investors can auction off real estate loans. Michaels sat down with the New York Times to discuss his firm's new site and some of his most memorable deals. Michaels said that, given the current market climate, now is an ideal time to launch the auction Web site. "The banks will get more exposure for their assets, the bidders can go to a central location to see what's available," Michaels said. "But it's not an auction in that it has to be sold right away. It's more like the Multiple Listing Service you have for homes."
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Comments
Anonymous
Actually, I think thats a good as it gets
Comment #1 Posted By: Anonymous 11/09/09
Anonymous
I received no fewer than 100 emails from this guy for the Drake Hotel site deal and 1330 Avenue of the Americas on behalf of Macklowe Properties (and maybe 1000 for 485 Lexington) so it would seem that he was in fact hired to help out. It's nice to put a face with a name now though. Funny, that's exactly as I expected him to look.
Comment #2 Posted By: Anonymous 11/09/09
Anonymous
Funny, that's exactly as I expected him to look. How many people out there worked for this email/spam genious. don't all stand up at once.
Comment #3 Posted By: Anonymous 11/09/09
Anonymous
I truly hope that the recent market corrections will mean a "changing of the guard" - these guys made their money ( and now lost a big chunk of it).. time to step aside for the next generation.
Comment #4 Posted By: Anonymous 11/10/09
Anonymous
Everyone in real estate knows he is just a broker. He has been touting a fund that does not exist for years. The NYT should do their homework.
Comment #5 Posted By: Anonymous 11/10/09
Anonymous
Satan
Comment #6 Posted By: Anonymous 11/10/09
Anonymous
How is that revolving door you can an "office" doing?
Comment #7 Posted By: Anonymous 11/10/09