From his perch onstage at the Pierre Hotel last Thursday, Bill Ackman looked down his nose on REITs.
“You can make more money on a single real estate deal than as a REIT,” he said at the 16th annual REIT symposium hosted by the N.Y.U. Schack Institute. Mr. Ackman, who made at least some of Read More
“Everybody’s bitchin’ because there’s been too much competition.”
And so Newmark Knight Frank’s Jimmy Kuhn kicked off the star panel at this year’s Capital Markets in Real Estate Global Markets Recovery with an unintential real estate rap.
Sadly, not all real estate gurus can rhyme, but everyone’s got some talent. We bring you the juicy Read More
At the Mandarin Oriental on Monday afternoon, the city’s largest office landlord beamed rays of optimism onto its collective shareholders.
“We can regain absorption quickly when people start hiring again,” said Marc Holliday, SL Green‘s CEO. “We’re at 85,000 job losses now, but that can quickly reverse itself. … It’s not going to take much, in Read More
In a late September planning conference at N.Y.U., Vishaan Chakrabarti strode into the college’s Kimmell Center a healthy hour after the event began.
Taking his place onstage, the former city planning official and development executive began to speak about his favorite project: the redevelopment of Pennsylvania Station-in the planning stages for nearly two decades-an effort Read More
Amid increasingly apocalyptic prophecies about the fate of New York’s commercial property market, more than a dozen “Masters of Real Estate” convened at the Metropolitan Club on Tuesday for an eponymous conference hosted by The Observer devoted to making sense of the market’s troubles. The major players appear to have emerged from the Read More
Seven months into 2009, SL Green agreed to sell 49.5 percent of its stake in 485 Lexington Avenue for $504.2 million, in one of the biggest trades of a major Manhattan building in more than a year.
Once the deal is approved by SL Green’s mortgage lender, Wachovia, a joint venture between the Israeli technology Read More
“A room full of slot machines in Yonkers has no sex appeal,” Steve Wynn told the Transom.
It was July 28, just before 6 p.m., and Mr. Wynn, of the eponymous Wynn Resorts, was relaxing in his attorney’s conference room on the 23rd floor of the New York Times building, following an exhausting day of Read More
It didn’t look like much, the racetrack in Queens. On Monday, the Aqueduct, whose angular Jetsons grandstand must have looked modern when it was built in 1959, hulked empty next to a parking lot, its asphalt crevices luxuriant with weeds. A lone seagull flew overhead, and aside from the distant roar of jets departing J.F.K. Read More
Location: When do you see the real estate market recovering?
Mr. Holliday: Recovery in rents is going to happen when there is competition for space.
When do you see that happening?
I hope soon. It’s hard to project or put too much conjecture into when exactly that will occur. I look at things more trend-based. Read More
Aetna has signed a 10-year lease for 40,000 square feet at 100 Park Avenue, SL Green’s recently overhauled glass-clad lovely near Grand Central Terminal.
Marc Holliday, SL Green’s CEO, let the news slip during remarks Wednesday morning in a well-appointed, packed room full of real estate types on the fourth-floor of the Waldorf Astoria. Read More