WATCH: Veteran broker Larry Kaiser on how the biz has changed in the last 50 years

The Key Ventures founder brokered the city's first $1 million residential sale

New York /
Aug.August 24, 2016 07:00 AM

“They were the metals-kings of Bolivia,” Larry Kaiser said, pausing for dramatic effect. The Key Ventures founder was referring to the Patiño family who, in 1978, became the first buyers to spend over $1 million on a single-family home in New York City. It was Kaiser who brokered the deal at 834 Fifth Avenue.

Kaiser, who cofounded the brokerage Key Ventures in 1968, is one of the few consistent elements of the city’s ever-changing real estate market. He’s lived through shifting tastes, laws and economic cycles, and still refers to brokerage as “a profession that wraps its arms around you.”

The Real Deal sat down with the industry veteran to discuss how the business has changed during his 50-year career — and how he’s adapted to stay afloat.

“Quite frankly, these days, I don’t understand the difference between a broker and a sales agent — everyone’s a broker,” Kaiser said. “And people don’t specialize anymore. They’ll sell anything and everything.”

To hear from one of the city’s longest-standing brokers, watch the video above.

For more videos, visit The Real Deal’s YouTube page.


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
Almanac Realty Investors managing director Matthew Kaplan (Almanac Realty; iStock)

Workforce housing investor gets $320M boost

Workforce housing investor gets $320M boost
North Point Mall in Alpharetta, Georgia (left) with Brookfield's Brian Kingston (iStock; Brookfield; Google Maps)

Converting empty malls to warehouses isn’t easy

Converting empty malls to warehouses isn’t easy
From left: 140 and 142 West 4th Street, 63 West 104 Street and 37-30 Review Avenue in Long Island City (Google Maps; StreetEasy)

Mid-market muscles up: $154M in deals last week

Mid-market muscles up: $154M in deals last week
Phil Collins is in contract to sell his waterfront Miami Beach mansion amid a legal battle with his ex-wife, Orianne Bates. (Getty, Coldwell Banker Realty)

Phil Collins finds buyer for waterfront Miami Beach estate listed for $40M

Phil Collins finds buyer for waterfront Miami Beach estate listed for $40M
The Woolworth Building at 233 Broadway (Getty)

What office tenants pay at Witkoff & Cammeby’s Woolworth Building

What office tenants pay at Witkoff & Cammeby’s Woolworth Building
arrow_forward_ios

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

Loading...