Exclusive outtakes from industry leaders
I sat down with Corcoran CEO Pamela Liebman after she came in for the Reuters Global Real Estate Summit and spoke with her about how she got into the real estate business and why she’s stuck with it for so long.
Where did you grow up in New York?
Staten Island. I went to Curtis High School
Do you live still in New York?
I live in Warren, New Jersey and have another home in Miami, Florida.
Why did you leave?
My husband wanted to live outside Manhattan. We are both very passionate about our outdoor activities and we like to be close to our golf course.
But you lived in the Manhattan before you were married?
Yes, on the Upper East Side. 77th and Lex.
For Marc Holliday, chief executive of SL Green Realty Group and Gramercy Capital Corp, the Tom Petty lyrics ring especially true.
Holliday, speaking at the Reuters Global Real Estate Summit, said on Tuesday that his company is waiting with bated breath to hear about which company has won the award to expand the gaming options at New York City’s borough of Queens-located Aqueduct Race Track.
Sure thing, kids LOVE the bubbles. The blowing, the running around, the popping.
All the things that gives real estate investors and developers fits.
Any simple search on “real estate” in a news story for the past two years would more than likely also mention the word “bubble”. In fact, a quick Google search of “real estate” and “bubble” turned up 998 news stories — in the past month!
Scott Latham, one of the most powerful commerical real estate brokers in New York, says that Chinese investors are making approaches to buy Manhattan properties.
“They are coming,” he told the Reuters Global Real Estate Summit in New York on Monday. “We’ve seen them in the bidding process over the past four months on a number of assets we’ve handled.”
Asked if weakness in the New York real estate market – which has been fairly resilient so far – could signal a bottom for the battered U.S. housing market, the head of the influential National Bureau of Economic Research said :
”No, no no! The New York real estate market is priced in euros and pesos,” Martin Feldstein said, referring to overseas investors snapping up property in the Big Apple which for them works out as a relative bargain because of the weak dollar.