NYC RE Development Manager @REDevManager

I develop mixed use properties. $2B+. NYC. DMs open New York, NY Joined May 2023

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NYC RE Development Manager @REDevManager

3 days ago

I just got invited to be on my first podcast. Apparently they like the projects I’ve built. am I gonna be famous now?

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NYC RE Development Manager @REDevManager

4 days ago

Just got a call from an out of country VA trying to buy my building which they knew nothing about. They thought it was a separate asset class. Cold calls definitely work but does having a VA do massive volume actually find deals for people?

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NYC RE Development Manager @REDevManager

a week ago

When speaking with brokers - always ask for the next deal. Ask what else are you working on that fits your criteria. Brokers are always working something. Key to off market is asking and than actually closing and asking again

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NYC RE Development Manager @REDevManager

2 weeks ago

Broker calls me with a deal. I ask the going in cap rate and stabilized yield. Broker gets annoyed I’m asking questions. I don’t get it. I’m screening the deal. Know your numbers.

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NYC RE Development Manager @REDevManager

3 months ago

The last 15 properties I’ve underwritten have had a value of less than the debt. Lots of pain to come still IMO

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NYC RE Development Manager @REDevManager

3 months ago

Owner doing self leasing. Email owner to see what their rates are. Owner tells me he won’t tell me the rate until I come tour. Who’s gonna tell him ?

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NYC RE Development Manager @REDevManager

3 months ago

Got hawked a 2 cap entry today. Sir - it’s not 2021 anymore.

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NYC RE Development Manager @REDevManager

3 months ago

Just left an industry event - the amount of ppl who were able to start their business bc their company had them work from home for 6 months - huge. Take the morning to focus on yourself & no one watching over your shoulder.

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NYC RE Development Manager @REDevManager

3 months ago

NYC midtown office market is extraordinarily bifurcated. Class a vacancy rate: 7.5% Cases b and c: 14-16% Tale of two cities

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NYC RE Development Manager @REDevManager

3 months ago

Need to unprotect an excel spreadsheet? Load it to ChatGPT and as it to do the dirty work!

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NYC RE Development Manager @REDevManager

4 months ago

Seeing ‘owner - user’ in the listing is key for “we’ve completely over priced it please don’t mind us”

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NYC RE Development Manager @REDevManager

4 months ago

I always think it’s glamourous to be a broker. I’m currently doing an in house refi going thru lender Q&A. The amount of lenders who send questions without looking the package you sent them is astonishing.

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NYC RE Development Manager @REDevManager

4 months ago

Heard on the street in ATL. Second gen restaurant space is so hot, that operators are now offering key money (paying the Landlord) for the right to lease the space. This is wild. Market is hot!

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NYC RE Development Manager @REDevManager

5 months ago

Most under rated and part no one told me of being a dad - all the pizza and chicken fingers I get to eat. It’s not something I would ever order for myself - but my son loves it. And let’s be real - both are delicious.

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NYC RE Development Manager @REDevManager

5 months ago

Been driving I95 from NYC to Philly and back every 6-8 weeks for the last 7 years. I’ve never seen so many industrial leasing banners on the big box warehouses. Every few miles had another 100-500K for lease banner. Industrial friends - what’s going on in the NJ I95 corridor?

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NYC RE Development Manager @REDevManager

5 months ago

Hey @Bethazor1 you mentioned in your podcast (10/25/24)-renovating a strip center-that you were passing back the cost of new signs to the tenants and we’re going to split the cost 50/50 with them. Wouldn’t new signage be capex? How are you passing that back via CAM?

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NYC RE Development Manager @REDevManager

5 months ago

& or and? Which is better and why? Does using the ‘&’ imply lasyness in an email?

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NYC RE Development Manager @REDevManager

6 months ago

Not that I want to become an influencer or anything but my post on retail options got more responses and interaction than any other post. @EvanMouhalis & @chriswhatch I’m coming for you!

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NYC RE Development Manager @REDevManager

6 months ago

Options are the killer of retail acquisitions. I can’t for the life of me understand why landlords agree to an option rent. Upside is capped. Options always at FMV!