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Spotlight

on

New Development

Bigwigs bring A-game

Spotlight

on

New Development

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Top developers, brokers, architects break down market trends from condo and land prices to the best investments at TRD’s New Development Showcase Lost connections: Developers who use separate designers for a building’s exterior and interior miss a big opportunity, TRD’s architecture panel agreed. “There is sort of a lobotomy where the connection [is lost] between the floor plans and the envelope. It’s almost like two different projects,” said starchitect Bjarke Ingels, far right. The discussion also featured, from left, Betram Beissel of Ateliers Jean Nouvel; Paul Whalen of Robert A.M. Stern Architects; Gene Kaufman of Gene Kaufman Architect; and John Cetra of CetraRuddy.

ON BROKERS WHO AVOID SOCIAL MEDIA:

Miki Naftali, left, and Michael Stern were among the panelists.

Warburg Realty exec Richard Steinberg said anyone who ignores such a presence has essentially adopted an “out of sight, out of mind” business strategy. Steve Witkoff

Citi’s Brian Gallagher, left, and James Dorcely of EverBank The illusive oligarch (from left): Leonard Steinberg, a top Douglas Elliman broker; Richard Steinberg, executive managing director of Warburg Realty; Stephen Kliegerman, president of Halstead Property Development Marketing; and Adam Modlin, president of the Modlin Group, agreed it’s a mistake to imagine a collective “foreign buyer” who will swoop in to pay $100 million for an apartment.

N

ew York City’s real estate community came

Jonathan Miller, left, and Warren Friedman of Friedman Consulting

Robin Vrba of Bond New York

From left: TRD’s Stuart Elliott, editor-in-chief; James Gardner, architecture critic; and Amir Korangy, publisher, served as moderators.

out in force last month for The Real Deal and Luxury Listings NYC’s New Development Showcase at the Altman Building in Chelsea.

The all-day event — which included three panel

discussions headlined by industry bigwigs including developers Steven Witkoff, Miki Naftali and Michael Stern; brokers Adam Modlin and Leonard Steinberg; and architect Bjarke Ingels — drew more than 3,300 industry players on a rainy New York day. The discussions offered up insightful, and sometimes funny, comments about the current state of the residen-

From left: John McDonough, Jim Stevens and Joseph Farina

tial market. And the conversations continued into the exhibit hall, where more than 25 sponsors, led by JDS Development and Douglas Elliman, showed off their latest projects. Here are some the best of the photos and sound bites from the day.

ON EVER-RISING PRICES:

The panels drew overflow crowds.

66 June 2014 www.TheRealDeal.com

Naftali Group CEO Miki Naftali: “At the end of the day, if someone thinks that prices tomorrow or six months from now will continue to grow at the same pace, it’s a mistake.” tktktkttktktk

Joe McMillan of DDG Partners, second from left, and Shlomi Reuveni of Town New Development, right

From left: Eric Schneider, Julia Spillman and Ariel Cohen of Douglas Elliman Attorney Cynthia Fareed, left, and Melissa Young

Hudson Companies’ David Kramer

ON LAND PRICES:

The Real Deal’s Yoav Barilan, left, with Efraim Tessler of Keller Williams

Michael Stern, JDS’s development managing partner: “People are stretching boundaries and convincing themselves that subpar locations are going to do the same thing as [prime locations like] the West Village.” www.TheRealDeal.com June 2014 67


Forum June spread