They said what now? Real estate quotes of the week
From John Cats to Mayor Adams, here's who caught our attention
Here’s a roundup of the prescient, colorful, sobering or simply interesting quotes from the past week across the real estate industry.
“If they want to try to suck our blood, make my day.” John Catsimatidis after Midtown Lumber claimed the Red Apple Group CEO conspired with the store’s former landlord to toss it out of 276 West 25th Street.
“They are not saying ‘not in my backyard,’ they’re saying ‘build in my backyard.’ Hats off to them.” New York City Mayor Eric Adams, on local Council members Erik Bottcher and Keith Powers, who backed a plan to rezone Midtown to help meet the mayor’s goal of adding half a million homes citywide.
“Often, you feel like you need to take a shower after leaving the room with many private lenders.” Seth Weissman after his firm, Urban Standard Capital, started a new venture to deploy $100 million in financing.
“There are not quite as many people showing up right now but the food is still really good.” Blackstone president Jonathan Gray, comparing BREIT to a great restaurant experiencing a slump in demand.
“Aspirational pricing is a waste of time. Realistic prices will get the deal done.” Corcoran’s Ernie Cervi on the Hamptons and North Fork residential markets.
“Other companies operating more efficient, low-cost operating models are under less pressure to make big cuts — and may be better placed to invest in future growth.” Residential real estate analyst Mike DelPrete, on Compass and Anywhere being among the least efficient publicly traded residential brokerages.
“The husband may consider himself a real estate ‘mogul,’ but he is not the mogul of this case.” That’s from a motion filed by Yannina Sapir in her Florida divorce proceeding with her husband, developer Alex Sapir.
“Everyone’s gonna know everything.” Ira Zlotowitz of Gparency, on the potential impact ChatGPT will have on commercial real estate