This Week in Comments

New York /
Jul.July 10, 2009 01:00 PM

Where in the world did Shvo go?
I have to give him credit — tireless self promoter and fantastic brand reach in the boom times. The reason why he is recluse right now is because the buyers aren’t there and he can’t deal with my low-end demands. I say, give it a few years and if its not him, another dwarf will become a giant; and the cycle will continue. Guys like this usually find themselves involved in asset management. I have a feeling that’s where we’re going to find him next. Think Maklowe, in 1990.

Elliman launches rental site
The “new” site isn’t so new; it [has] the same listings as the original site, at least for New York City.

Spring awakening for rentals
Yeah, broker business is great because so many people are leaving their old apartments for a cheaper one or better one for the same price.

Bad behavior amid the bust
It doesn’t matter if the agent is honest, if the agent is representing a dishonest and unethical developer or owner, and the latter group is legion in New York City. You want to clean up the image of real estate? Get rid of the sleazy developers. We all know who they are.

What’s the worst case scenario for a condo buyer when a developer fails to sell a majority of the units?
The maintenance cost goes through the roof. This is exactly what’s happening in Miami right now. People are getting huge discounts on fancy condos, but their monthly fees are eight to 10 times what they use to be.

The Donald stands alone
Trump Soho … you’re fired.

Boutique hotel construction starting on Duffield Street
Can this economy even handle another huge “boutique” hotel? I guess somebody forking over the bucks to stay here isn’t affected by a recession anyway.


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