The Second Generation

Wit and wisdom from real estate developers who are following in their fathers’ (or grandfathers’) footsteps, from today’s Real Estate Board of New York luncheon:

Richard LeFrak: “If you read about all the problems that Ratner has had in Brooklyn, when they should be rolling out a red carpet for him considering what he wants to do–there is so much democracy now, what with the community boards and everybody who wants to negotiate with him, I hope he lives long enough to see it done.”

Bill Rudin: “What I think, when you ask what is the major challenge, is the lack of rental housing which has been the basis for which the city has become what it is.”

Howard Milstein: “New York City is benefiting from the silver lining of all of this outsourcing. All of these people around the world, when they make money, they don’t want to stay in Bangladesh. They come here.”

Rob Speyer: “If we don’t do more to open our borders again and get the next wave of immigrants coming, it is going to bankrupt us over the next generation.”

Matthew Schuerman The Second Generation