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New York

TRD talks sleazeball tactics and Brooklyn real estate

Firms looking to buy real estate often send letters saying prices are declining

Firms looking to buy property in bustling Brooklyn have been sending letters encouraging owners to sell because of a “declining real estate market.” Not so, says The Real Deal’s Hiten Samtani, who talked to PIX 11 about the state of the Brooklyn real estate market. Samtani pointed out Brooklyn home prices are expected to grow four percent by the end of the year.

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“The tactics that you’re referring to are complete sleaze-ball tactics,” said Samtani. “Those aren’t things a typical, reputable brokerage or investment firm would do. Yes, everyone wants deals. Brokers call around all the time. That’s part of the game. But those kind of letters are reserved for a certain set of the market. It’s not standard operating procedure for sure.”

Check out the segment on PIX11.

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BrooklynHiten Samtani