South Florida real estate players gear up for recession
South Florida billionaire and former U.S. Senate candidate Jeff Greene told Fox Business that people will someday look back on 2011 as “the golden day” for real estate investing, and those who didn’t get in will be kicking themselves for missing out while inventory is high and interest rates are “lower than they’ve ever been.” Greene, who is worth an estimated $1.8 billion, said that in the past year he’s finally begun to get back into the real estate game after seven years of sitting on the sidelines and will “absolutely” be buying more property over the next few months. Among his recent investments: a distressed condominium conversion site at 62 Wooster Street in Soho, which he bought for $26.27 million in April, and 260 units in a fractured Florida condo where he says he’s currently getting a 9 percent return on his investment now that he’s renting them out.
