Real estate pros talk shop at The Real Deal's holiday party
December 10, 2008 11:45AM By Jovana Rizzo
The Real Deal's holiday party at Sicis Art Factory
The Real Deal held its holiday party last night at the Sicis Art Factory, at 470 Broome Street in Soho. More than 1,000 real estate professionals filled the four-floor showroom packed with mosaic designs covering entire walls in flower and animal patterns, hanging tile displays that looked like
flying carpets and mannequins dressed in armor. Attendees included Bob Knakal and Paul Massey, co-founders of Massey Knakal; Jonathan Miller, president and CEO of Miller Samuel; Michael Shvo, founder of the Shvo Group; Steven Siegel, chairman of global brokerage at CB Richard Ellis; and Tamir Shemesh, managing director of Prudential Douglas Elliman. While touring the floors of art and drinking champagne and sampling hors d'oeuvres, many of the real estate pros at the party talked about the state of the market and what they are up to.
Here's a sampling:
Adelaide Polsinelli, associate vice president of investments at Marcus & Millichap:
In 2009 you will see a consolidation of brokerages. It will be survival of the fittest.
Romy Goldman, owner of Gold Development:
A good product that's moderately priced will sell. Buildings that are done will sell. The residential mortgage market is changing on a daily basis.
Tom Acitelli, senior editor of real estate coverage at the New York Observer:
I think now is one of the better times to be a rental agent because of the demand. [And] now is the time to own property near an outer borough transportation hub. When the next wave comes, those areas will bounce back fastest and first, outside of Manhattan.
Itai Nave, investment sales broker at Berko & Associates:
The market will turn up in 2010, and I think we're going to hit the bottom next year. Right now, [for investors], the smartest properties to buy are malls with strong anchor tenants like Wal-Mart. The discount retailers are doing well.
Developer Henry Justin of HJ Development:
We're going to hunker down and stay the course. I'm not going to [turn my building at 211 East 51st Street] into a rental.
Adam Leitman Bailey, real estate attorney of the eponymous law firm:
Only the people who can predict the weather in the up coming months can predict real estate's future.
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Comments
Anonymous
I went to this party. The line was around the block, so we left. I've never seen so many bigwigs, standing patiently in line like that before.
Comment #1 Posted By: Anonymous 12/10/08
Anonymous
the line moved fast and door people where courteous......of course some felt the need to cut the line - to big to wait (this was not Studio 54 Ms. blondie) ... Really nice event - thank you very much TRD!
Comment #2 Posted By: Anonymous 12/10/08
Anonymous
it was Pam Liebman. She doesn't know what a line is. She'd cut a line @ a hot dog stand outside Port Authority.
Comment #3 Posted By: Anonymous 12/10/08
why the hell were'nt invites sent out to all subscribers.....I had no clue about this party....get with it TRD....
Comment #4 Posted By: 12/10/08
Anonymous
you don't rate dude(ete). gotta know mr. big
Comment #5 Posted By: Anonymous 12/10/08
Anonymous
1. it wasn't an Open House. 2. Not Pam.
Comment #6 Posted By: Anonymous 12/10/08
Anonymous
It was a sick party. Lot's of big names were there and the crowd in between were very attractive. Very nice party indeed.
Comment #7 Posted By: Anonymous 12/10/08
Anonymous
it wasn't an Open House? Not Pam? thank you Pam for the insight, now tighten the belt a little bit more and gently toss those tresses over your forehead so you can appear oh so fetching.
Comment #8 Posted By: Anonymous 12/10/08
Anonymous
All of the big firms who canceled their parties, need to send Real Deal a thank you note for boosting morale for their brokers.
Comment #9 Posted By: Anonymous 12/10/08
Anonymous
Lets see next years party.... Headline. Real estate pros talk shop at Zanex holiday party
Comment #10 Posted By: Anonymous 12/10/08
Anonymous
Zanex was the sponsor? I thought it was Viagra.
Comment #11 Posted By: Anonymous 12/10/08
Anonymous
As always the animosity towards brokers and the industry cuts through like a knife here. Once again there ARE nice people/brokers out there !!!
Comment #12 Posted By: Anonymous 12/14/08
J
Well I for one would of loved to have attended, since my firm is trying to build a solid clientele base in Manhattan. This would of been a perfect opportunity to network and mingle with some substantial key players.
Comment #13 Posted By: J 12/24/08