In their words...
The month’s funniest and most insightful comments on real estate
“You’ve got to
sell before you build. Sell the dream; then it doesn’t matter what kind of shit you build.” Architect and developer Cary Tamarkin, recounting advice he once received from a broker.
“It looks like something they would build in Canada.” Famed graffiti artist Banksy, on 1 World Trade Center’s uninspiring design. (Banksy’s website)
“It ended up costing me 400 effing dollars.” Hotelier Andre Balazs, on getting charged late fees by Citi Bike. (New York Post)
“I don’t think
anyone will kill the goose that laid the golden egg.” Broker Dolly Lenz, on why the de Blasio administration is unlikely to make dramatic changes to the city’s taxes that will affect real estate. (CNBC)
“Even Jon Mechanic thought it was complicated.” Related Companies’ Jay Cross, making a tonguein-cheek reference to the intricacies of financing the Hudson Yards development. (NYU Schack Institute of Real Estate panel) 30 December 2013 www.TheRealDeal.com
“The only market that is giving us heartburn is the acquisitions market for assets that we want to buy.” Vornado Realty Trust CEO Steven Roth, discussing the firm’s strategy to sell more than it will buy in 2014 because of the cutthroat market.
“They’re in the [hotel] discussing billiondollar deals. It’s just a matter of catching their attention.” Lawyer Edward Mermelstein, on builder Macklowe Properties trying to lure überwealthy buyers with sales presentations at Moscow’s Ritz-Carlton Hotel.
“These are the kinds of buildings that the robber barons built.” Thomas Bender, an NYU cultural historian, on how towers like Gary Barnett’s One57 accentuate the city’s income inequality. (New York Times)
“There’s a very serious family discussion that has to be had about what makes sense going forward.” New York City’s mayor-elect Bill de Blasio, when asked early last month if he would move from Park Slope to Gracie Mansion when he takes office. (New York Daily News)
Published on Nov 30, 2013