This Week in Comments

TRD New York /
Jan.January 29, 2010 02:15 PM

FiDi developers surrounded by excess inventory
1. Many bankers including me do not like to Live On Wall Street because we
work here. You do not want your boss to see you on Sunday morning. Who
else will then buy those condos?

Trump, Related eyeing Stuy Town takeover

Do you think it will be renamed Ivanka Town and Donald Trump Village or Trump Town and Ivanka Trump Village?

Downtown’s office market holds — for now
The low vacancy is a joke. They are giving away space downtown. Tons of free rent, full build outs and really low rents. Yeah, if I destroyed the value of my buildings, I could claim low vacancy rates also. Mad Max would be afraid of the wasteland that is FiDi.

Weak new development sales spur buyer guarantees
1. Seems like it would be a worthwhile guarantee, but not 10 years from now. At 20 percent of the sale, it should be three to five years in order for it to make sense.
2. Looks interesting to me. The 10-year timeframe is likely required to insure solvency in the trust that may eventually have to fund buy back — purely a math thing tied to [an] estimate of how many people they think will ask for their money back. Same thing as using actuarial tables to structure life insurance policies. If you look at their Web site, looks like you have six years to elect whether or not to ask for money back. If prices come back in years six to 10, you can still sell for a profit rather than being locked into [a] sale in year 10 to Sirius.

How do you think consumers will respond to VOWs or Virtual Office Web sites?

Well, the rest of the country has been enjoying them for 20 years — guess it’s time that New York got on board.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Sen. Michael Gianaris (Getty)

New York pols take aim at Opportunity Zones

New York pols take aim at Opportunity Zones
Gap Senior Director of Real Estate Jennifer Rondholz, Morgan Stanley Prime Property Fund head Scott Brown and 170 Broadway (Linkedin, Google Maps)

Lower Manhattan retail condo squeezed by lender as Gap refuses to pay rent

Lower Manhattan retail condo squeezed by lender as Gap refuses to pay rent
Agents see sales surge and New Yorkers escape to the suburbs (iStock)

New Yorkers reckon with the suburbs. And agents rejoice

New Yorkers reckon with the suburbs. And agents rejoice
Suri Kasirer

WATCH: Suri Kasirer on the influence of her father’s Holocaust stories and lobbying hard for the Vanderbilt Corridor and Cornell Tech

WATCH: Suri Kasirer on the influence of her father’s Holocaust stories and lobbying hard for the Vanderbilt Corridor and Cornell Tech
123 West 23rd Street and Adam Neumann (Google Maps; Getty Images)

Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site

Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...