NYC RE Development Manager

I develop mixed use properties. $2B+. NYC. DMs open

[NYC RE Development Manager @REDevManager]

Allow me to introduce myself.

Currently a NYC based development manager building institutional assets. Here to connect with others and discuss all things real estate and development related. Will be sharing thoughts I find interesting along the way.

[NYC RE Development Manager @REDevManager]

@coleruudjohnson COS

[NYC RE Development Manager @REDevManager]

@MendySchech @PerrySolem Not tons of people. You see it in some buildings. Still haven’t reached the high end buildings. But it’s in the conversation to try and save some $

[NYC RE Development Manager @REDevManager]

@PerrySolem Lots of people exploring it now. Even for high end rentals. Bc staffing costs are insane and so hard to get deals to pencil now.

[NYC RE Development Manager @REDevManager]

@SpaceCoastCRE Feels like every contract I’ve ever dealt with

[NYC RE Development Manager @REDevManager]

@credealjunkie The balls go to the LPs and banks funding it. The developer just cashed out in fees day 1 and pays for its platform for the next 7 years.

[NYC RE Development Manager @REDevManager]

@JackHayesSH Love it here. Keep calling and try for a cancellation. It’s worth it. The ambience is awesome.

[NYC RE Development Manager @REDevManager]

@LlcSuplex @CoyDavidsonCRE 15 yr deal. Probably $50 starting rent. Maybe more bc good views but tough location and downtown mkt is pretty rough right now.
Tenant rep commission would be appeox $4.65M
Landlord rep would get approx $2.3M

[NYC RE Development Manager @REDevManager]

@BostonBen5 Nice! Where is this?

[NYC RE Development Manager @REDevManager]

@QoePrep @SMB_Attorney Why is this the easiest to sell? No way. (1) not legal to own a law firm if you’re not a lawyer. (2) revenue is super lumpy. Big cases can take 5-10 yrs before you get paid. All while you need to keep the lights on and invest more $ into that & other cases

[NYC RE Development Manager @REDevManager]

@SMB_Attorney If you wanna be rich go to big law. If you wanna be really really rich and fly private - do PI.

[NYC RE Development Manager @REDevManager]

@PerrySolem @Nick_Keesee Have you looked into comp stak?

[NYC RE Development Manager @REDevManager]

@YOCspread I’m increasing value which lets me pay for future capex - thus keeping value current.

[NYC RE Development Manager @REDevManager]

@PatCarino Thanks for risking your life for me!

[NYC RE Development Manager @REDevManager]

@resetbasis @realkellye What syndicator has this out right now?

[NYC RE Development Manager @REDevManager]

@hitsamty @PerrySolem give him your best go!

[NYC RE Development Manager @REDevManager]

@blueprintsmb22 I’m totally guessing but NY and NJ is prob skewed bc finance/tech pay so well for W2. Most of the country prob need to start your own business

[NYC RE Development Manager @REDevManager]

@bethanyjbabcock You see this in a few old nyc office buildings. We have one with similar thoughts and stories.

[NYC RE Development Manager @REDevManager]

@sofiafonsoferre @grok is this real?

[NYC RE Development Manager @REDevManager]

@PatCarino This is why we pass on 99% of condo projects.