Welcome to the parking business, kids!!

By the end of 1985, Paul J. Massey and I were about a year and a half into our careers. Based upon the recommendation of Louis Brause, we had put together a summary of all parking garages on the Upper East Side Lou told us that investors loved garages because they produce good income and serve as good development sites as they can generally be vacated on short notice.

When Lou spoke, we listened.

🧵 If you play with fire, you could get burned!

Let's go back to the '80s and a time when NYC was in need of money (when doesn’t a municipality need money?). Then Governor Mario Cuomo thought a solution was to impose a special statewide capital gains tax.

#ThrowbackThursday 2/ The tax was on any real estate transaction above $1 million. This special “Cuomo Tax”, as it was commonly referred to, was supposed to raise tens of millions of dollars for the state.

🧵 Cold Calling / Prospecting: Nothing New

Much of the conversation on Twitter and LinkedIn during the past several weeks has been around the topic of cold calling and prospecting.

More photos at the end of the 🧵 #ThrowbackThursday 2/ In the world of prospecting, “cold calling” should be something done only within the first year of your prospecting campaign. After that, the majority of your prospecting calls will be warm calls because prospects will already know you.

🧵 The Deal that Signaled a Changing Market.

The sale of this development site changed so many things for our development site sales practice. The property was put on the market at a time when the market was rapidly changing.

#TestimonialTuesday #retwit 2/7 We anticipated a price in the mid $400s per square foot and quickly the bidding escalated to the point where we obtained over $600 per buildable foot. Based on this, we went to several other sellers, letting them know that they could get prices that were well in excess

🧵When Partners Don’t See Eye-to-Eye:

509 West 38th Street was a 125’ x 100’ development site upon which sat an auto body repair shop with a large billboard which provided additional income.

#TestimonialTuesday #retwit 2/8 The lease on the property and the billboard had expired and were being rented on a month-to-month basis. The site was purchased by a partnership of Meadow Partners & Iliad Realty.

Another in a series of "Thoughts for the Day," July 30, 2006

The thought for today involves being cognizant of the fragility of life and making sure we live that life the way we intend to.

#MondayMotivation #retwit twitter.com/i/web/status/1… 2/10 It is easy to lose sight of the fact that time is passing, days go by in the blink of an eye. Before we know another week, month and year have passed. But have we taken the time to really appreciate what we have, and have we achieved the things most important to us?

🧵Buckle in for this one! 2 for the price of 4!

In land assemblage, the whole is usually worth more than the sum of the parts. In these transactions, due to two unusually shaped properties and different zoning districts, the sum of the parts were worth more than the whole. 2/12 Suggesting a tax lot subdivision, and a joint venture development strategy, which left one of the unwilling sellers with a retail condo interest, were keys to maximizing the value of all the component properties.

#cre #retwit #TestimonialTuesday

🧵Another in the series of "Thoughts for the Day":
What are you working on today?

Sunday, March 12, 2006

Our business is a busy one with many moving parts. We all have more on our plates than we can possibly accomplish, and new things pop-up all the time. #MondayMorning 2/10 How do you succeed? How do you cope? How do you achieve your goals? How do you not get caught up in the swirl of the daily whirlwind? I offer a couple of one-word answers: think, plan, discipline, focus.

#cre #retwit #MondayMotivation