Madison Avenue has a new neighbor, one who knows quite a bit about real estate. Developer Don Peebles of the Peebles Corporation has way up, from Miami to the Upper East Side, to open his first office in New York, according to The Real Deal. The developer, considered the largest African-American builder in the country, moved to the big organic apple to build a few buildings.
But it won’t be easy!
Peebles acknowledged that Manhattan is a difficult market for development, but noted that he’s completed tricky projects in the past. He revamped the Royal Palm Hotel in Miami Beach under the watchful eye of community preservationists, for example.
Miami community preservationists? He surely hasn’t met an East Side NIMBY yet. “I’m sure there are a lot of hurdles in New York,” Mr. Peebles said. “But it’s not like I’m coming from a place without obstacles.”
Oh, no. We hope he doesn’t have to deal with the Landmarks Preservation Commission.
PS: He’s lucky this is a mild winter.