This Week in Comments

Elliman’s Jacky Teplitzky offers advice to buyers
I think the developers that have hired Douglas Elliman would be somewhat displeased about an Elliman broker telling people, in such a public forum, to hold off on new developments. Can you say breach of fiduciary duty?

Million dollar deals on the Upper East Side
Completely irrelevant. Each of these deals was initiated pre-Lehman. The market sucks. The boom is over.

Real estate exec Steven Good found dead, possible suicide
To read rave reviews of Mr. Good since his suicide, which state how great, rich, a man of leadership, etc. [he is], disgusts me. Any human that takes their own life, whether it be due to bad marriage or whatever is a loser and a coward, no way a leader.

Retailers finding lower rents, more concessions
While this is clearly a buyer’s market there are few buyers with the nerve to spend what capital resources they have at the moment. I applaud the risk-takers. They will benefit from this downturn. When things turn around there will be a flight to quality locations for those merchants willing and able to pick up the pieces.

Lender alleges Swig defaulted on 25 Broad loan, inflated Sheffield stake
Let’s be clear, folks — it is not harassment to simply not renew a market-rate unregulated lease. It’s called property rights.