Darcy Stacom

Being a young commercial real estate broker is brutal Industry’s top dogs chat about their work-life balance (or lack thereof)

From left: Mitchell Steir, Darcy Stacom and Stephen Siegel

If you want to make it to the top of the commercial brokerage heap, forget about work-life balance, at least in the beginning. Take it from Savills Studley’s CEO Mitchell Steir.

“Early on in my career, over the first 10, 12 years, I never took a personal call,” he said Friday at SIOR’s annual conference in New York. “I think time management is critical, I mean all we’ve got is our time.”

Steir shared the stage with CBRE’S Darcy Stacom and Stephen Siegel and Cushman Wakefield’s Bruce Mosler, and one of the topics they talked about was how successful brokers manage to 爱上海同城 爱上海strike a work-life balance. Turns out it’s pretty difficult.

Early in her career, Stacom was as staunchly anti-leisure as Steir. “I never really entertained outside of the office no breakfast, no lunches, no dinners, no entertaining. None,” she recalled. “I just went hardcore at work and differentiating myself through knowledge of the market or research, etc.”

Later Stacom had kids, and she said she managed to make time for them by living close to her office. “And then finally I built a team because I was like, ‘I want to be able to take a vacation and actually enjoy myself,’” she said.

爱上海同城手机版 新爱上海同城对对碰论坛

“My daughter remembers picking up the phone ( ) and saying, Mr. Trump, my mom is on vacation. Click.”

Siegel said he managed to spend time with his kids by coming home between work and dinner functions, and eating breakfast with them. But he acknowledged that success in commercial brokerage requires gruel上海贵族宝贝交流区 上海贵族宝贝论坛ing hours. “If you’re looking at the clock to see what time you can get the hell out of there, you’re in the wrong business,” he said.

Mosler added that part of the challenge of being a broker is being forced to manage your workday independently. “You d爱上海龙凤419桑拿 上海龙凤论坛sh1fo have to have the discipline to define your workday,” he said. “Work-time management is the most important ingredient to whether you succeed or fail, and having good judgement.”

The good news is that once brokers are a bit older and a lot more successful, they can afford to spend more time away from work. “At this point in my career I obviously say hello to my family and do things and enjoy myself a little more,” Steir said. “But early on I was all work.”

Tags: darcy stacom, Mitchell Ste新爱上海同城对对碰论坛 上海同城对对碰交友社区ir, Stephen Siegel
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The Real Deal Los Angeles

The Real Deal s January issue is live! Inside: LA County’s condo boom, a sitdown with Beverly Hills Mayor John Mirisch and more

At The Real Deal, we’re ushering in the new year with a sprinkling of hope tempered by a 爱上海同城论坛 爱上海同城smattering of caution.

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Our January issue greets the new year by zooming in on one of Los Angeles most spectacular turnarounds: Hollywood. The neighborhood has emerged as a hive of creative offices and urban living. Yet this area also gave birth to the anti-development ballot measure that is rattling real estate investo上海夜网 阿爱上海同城rs, known as the Neighborhood Integrity Initiative.

We delve into L.A. county’s condo building boom, which could help alleviate the well-known housing shortage, but questions abound as to whether Angelenos will be lining up to buy the new luxury units.

We spotlight some exciting areas — from the Hol爱上海同城手机版 新爱上海同城对对碰论坛lywood Hills, to Santa Monica, to Anah爱上海同城论坛 爱上海同城eim.

Although the outlook for luxury retailers is soft nationwide, building owners are commanding top dollar retail leases and investment sales on L.A.’s high streets. We highlight the mega-deals for L.A. mansions, and the homes being offered for sale by celebrities.

Finally, we sat down for newsmaker interviews with Beverly Hills Mayor John Mirisch, and prolific developer Nelson Rising.

There’s something for everyone in our January L.A. magazine. Enjoy the issue!

Tags: Hollywood Hills, luxury condos, Santa Monica
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Gazit Globe

Retail landlord Gazit-Globe shopping for NYC real estate Israel-based firm owns Barneys retail condo in Chelsea

Gazit-Globe s Chaim Katzman and Barneys New York Downtown Flagship (Credit: Barneys)

Gazit-Globe, the international retail landlord that owns the home of Barneys New York in Chelsea, is planning to launch a private U.S. subsidiary to invest in New York and other major metropolitan areas.

The Israel-based real estate firm is eyeing potential investments across a range of property types with a particular interest in commercial and mixed-use properties, the Wall Street Jou上海千花网论坛 上海千花网rnal reported.

And its interest in retail real estate remains strong, despite the pressures of e-commerce and store closures.

“Brick-and-mortar [retail], where 80% to 90% of the sales take place, is still a powerful environment for brand buildi爱上海龙凤419桑拿 上海龙凤论坛sh1fng, cultivating loyalty and experiential retail,” chairman Chaim Katzman told the Journal.

The company has focused on supermarket-anchored shopping centers in urban markets. It owns the retail condo at 161 West 16th Street, which company subsidiary Equity One bought in 2011 for $55 million. Equity One Also Owns One Broadway Plaza in the Bronx.

Gazit-Global earlier this year merged Equity One with Regency Centers Corp., creating 阿拉爱上海同城 爱上海龙凤419桑拿a combined portfolio of 429 properties. [阿拉爱上海同城 爱上海龙凤419桑拿WSJ] – Rich Bockmann

Tags: barneys new york, Commercial Real Estate, Real Es爱上海同城对对碰 爱上海同城论坛tate Finance
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Retail Chain Debt

The true cause of the demise of big-box retail (and it s not Amazon) It’s debt, billions of dollars of it


Though all the trappings that historically indicate a boom in retail are accounted for consumer confidence, low unemployment and a growing economy stores continue to shutter.

Explanations of behavio上海贵族宝贝 上海千花网龙凤论坛ral economics dominate the discussion, however a Bloomberg investigation found a common cause underlying most of the relentlessly hemorrhaging sector (almost 7,000 stores closed so far this year): delinquent loan payments.

In Pittsburgh alone, for example, almost 27 percent of retailers have delinquent loans.

Most retail chains have major debt, typically from private equity firm s leveraged buyouts, which, in combination with market conditions and negative sentiment, are causing the sector to continue close stores and Bloomberg s findings indicate its only likely to get worse.

By next year, $1.9 billion high-yield retail borrowings will mature, with an average of $5 billion borrowings subsequently maturing annually until 2025 上海夜网 阿爱上海同城and the prospect for refinancing looks precarious as $1 trillion worth of high-yield debt across industries matures simultaneous阿爱上海同城 阿拉爱上海同城ly.

With the Federal Reserve s上海贵族宝贝 上海千花网龙凤论坛 increasing of interest rates, investors who were previously willing to take on retailers debt are now阿拉爱上海同城 爱上海龙凤419桑拿 backing away and so, in combination with negative sentiment toward retail, companies efforts to buy additional time seems even more unlikely.

[Bloomberg] E.K. Hudson

Tags: big box retail, Private Equity, Real Estate Finance, Retail Real Estate, shopping malls
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Trump Conflicts Of Interest

Inside the Trump Organization s rent roll Estimated $175M in annual revenue from commercial tenants poses both known and unknown potential conflicts of interest

President Donald Trump and Trump Tower (Credit: Getty Images)

When Donald Trump took office, the operations of his new Washington, D.C., hotel triggered lawsuits and congressional inquiries, focused on whether foreign governments were currying favor with the President of the United States through giving business to his latest luxury property. But most of Trump s potential conflicts can be found in the businesses he s been running for many years, at his office towers in Manhattan, where foreign governments and American corporations with significant matters before the federal government pay Trump millions a year in rent.

A new report by Forb爱上海同城对对碰 爱上海同城论坛es shows that these tenants pay an estimated $175 million in annual commercial rent to the Trump Organization, for much of which there is very little public reporting, due to Trump s company being privately held. Current relationships between those paying businesses and their landlord, the president, are often difficult to asses.

Take Bank of China, for example, one of Trump Tower s largest office tenants and which pays $2 million a year in ren上海夜网论坛 上海夜网t. Bank of China is controlled by the Chinese government, which can choose to leave the tower when its lease expires next year. Forbes speculates that Eric Trump and Donald Trump, Jr., could use their influence to entice the Chinese government to stay. 爱上海同城 爱上海And then there s Trump s 40 Wall Street, where drugstore Duane Reade is the biggest tenant, parent company Walgreens was in talks with the federal government over its merger with Rite Aide, w上海贵族宝贝 上海千花网龙凤论坛hich was ultimately approved by the Trump administration. Did that business relationship affect the outcome?

It s not likely we will ever know for sure, which is why ethics experts recommended the president avoid these problems by selling his assets, something Trump refused to do. Capital One, GNC, Nike and other well-known corporations all pay rent to Trump and all face situations in which the government exerts significant influence on their operations, on everything from regulations to contracts.

And those are just the ones we know. Though Forbes found at least 164 commercial tenants across Trump s property empire, government ethics officials have not been allowed to see the president s rent roll. 新上海贵族宝贝论坛 上海贵族宝贝交流区[Forbes] — Will Parker

Tags: Commercial Real Estate, conflicts of interest, Donald Trump, Politics, trump organization, trump tower
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Katy Perry Convent

Nun上海贵族宝贝交流区 上海贵族宝贝论坛 dies during court hearing over her convent s di新上海贵族宝贝论坛 上海贵族宝贝交流区sputed sale to Katy Perry Sister Catherine Rose Holzman, 89, died on Friday

From left: Sister Catherine Rose Holzman, Katy Perry. (Credit: Sisters of The Immaculate Heart s documentary, Our Story; Eva Rinaldi)

A nun involved in a legal dispute with Katy Perry over the sale of her convent to the pop star collapsed and died in court Friday.

Sister Catherine Rose Holzman was among a group of nuns that were battling Perry in court over her purchase of  a former convent in Los Feliz.

Ahead of the hearing, Holzman spoke to a Fox 11 reporter saying, To Katy Perry, please stop. It’s not doing anyone any good except hurting a lot of people. Holzman collapsed and died later in the courtroom, according to BuzzFeed.

The dispute began three years ago after the Archdiocese of L.A. sold the 8-acre former convent at 3431 Waverly Drive, where Holzman and other nuns lived until 2011, to Katy Perry for $14.5 million. Holzman and another nun, Sister Rita Callanan, disputed the sale, arguing they were already in talks to sell the property to restaurateur Dana Hollister for $44,000.

At issue in the ensuing legal battle was who had the right to sell the property the Ar上海千花网龙凤论坛 上海千花社区chdiocese or the nuns. According to the nuns, they bought the convent in 1971 and lived there until the Archdiocese evicted them about seven years ago.

The Archdiocese removed us to monetize our property, according to the sisters website, which positions the dispute as a battle against both the patriarchy of the church and Perry, who, according to the website, has no concern for the terrible path of de爱上海同城手机版 新爱上海同城对对碰论坛struction she is creating.

Ultimately, t上海同城对对碰交友社区 上海夜网论坛he court sided with Perry allowing her to acquire the property in October 2016 pending approval from the Vatican however the legal battle didn t end there.

The pop star spent $2.6 million in legal fees fighting the nuns and Hollister, so Perry sued Hollister for complete reimbursement, through a LLC she controls. The Archdiocese also brought a suit against Hollister.

In December of last year, the court ordered Hollister to pay a total of $15 million damages to Perry and the Archdiocese. Hollister declared bankruptcy this week.

For Perry, the contentious convent deal has not deterred her from attempting to buy from religious organizations again; last fall, she tried to buy Eagle Rock’s Bekins Estate, a home for Catholic priests, before the deal fell through. [BuzzFeed and Fox 11] Erin Hudson

Tags: katy perry, Re
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The Real Deal Golf

Save the date: The Real Deal’s first-ever golf outing in Broward County Join us June 4 at Grande Oaks Golf Club

The Real Deal is pleased to announce we will be teeing off on our fir上海同城对对碰交友社区 上海夜网论坛st go阿拉爱上海同城 爱上海龙凤419桑拿lf outing at Grande Oaks Golf Club in Davie, Fla. home to the filming of the cult classic Caddyshack on Monday, June 4.

The outing will benefit the Orphaned Starf爱上海同城 爱上海ish Foundation, an advocacy group dedicated to working with orphans, victims of abuse and at-risk youth through computer technology.

Please look out for updates to join TRD insiders and other key South Florida real estate professionals for a day of great golfing, networking, cocktails, meals and fun.

Key opportunities to sponsor this must-attend event are available. Please contact [email protected] for more information.

Tags: broward county, Golf, The Real Deal Dr. Smood founders buy townhouse at Continuum South BeachBaskir Capital buys a TD Bank branch in North Miami BeachDevelopers launch sales of Boca Beach House condo 上海贵族宝贝 上海千花网龙凤论坛projectState of the market: Real estate execs talk demand, pricing and more a…
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National Home Sales

Most big cities across US show signs of housing market cool-down: report In Miami, LA and Chicago home prices are slowing; in NY they rose sharply

(Credit: iStock)

South Florida’s once booming housing market appears to be cooling dow爱上海同城手机版 新爱上海同城对对碰论坛n along with a majority of other metro areas in the United States, as median annual home prices slowed in the second quarter.

The Miami metro area’s annual median home prices rose阿爱上海同城 阿拉爱上海同城 6.4 percent to $266,000 from April to June, compared to an 8.7 percent gain from January to March, according to a new report by Attom Data Solutions. Chicago and Los Angeles also reported a slowdown in annual home prices amid rising mortgage rates. Other large cities that did as well included two in Texas: Dallas-Fort Worth and Houston.

New York City, however, countered the trend, as median annual home prices accelerated in the second quarter, compared to the first. , Boston and Detroit also saw sharper gains.

The report comes on the heels of government data released Wednesday, which indicated a broader slowdown in the housing market. New home sales reached an eight-month low, according to the data, dropping 5.3 percent from May.

According to Attom, median home price rose at the slowest rate across the U.S. in two years.

Also, homeowners who sold their properties in the second quarter had owned for an average of more than eight years, the longest since Attom began tracking in the first quarter of 2000.

In South Florida, home prices have increased 160 percent since the bottom of the m上海夜网论坛 上海夜网arket in early 2011, when the annual median home price was $102,500. Prices have increased in part due to tight housing supply and a shortage of available land to develop there. Large developers are increasingly purchasing plots of land outside the urban core to build new communities.

But some developers and economists have expressed concern that home prices across the country are too high compared to median incomes, making home buying unaffordable for potential buyers.

The recently released government data did show some good news. The number of unfinished homes sold nationwide was at its highest in four months, indicating a healthy future demand, according to experts.

Tags: home builders, new homes, Real Estate Finance, Residential Real Estate Miami-Dade ethics commission dismisses complaint against Beckham groupRobert Zangrillo is no longer involved in Magic City Innovation Distri…Fitness expert bulks up with $13M condo in South BeachElion 上海贵族宝贝 上海千花网龙凤论坛unwraps plan for 30M sf industrial mini-city outside of Chicago
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470 Kent Avenue

Naftali in contract to buy one of the last large dev sites on Williamsburg waterfront Pricing for the property is said to be between $180M and $185M

Isaac Rosenberg (left), Miki Naftali, and 462-484 Kent Avenue in Williamsburg (Credit: Google Maps and Naftali Group)

The Naftali Group上海夜网论坛 上海夜网, which has been ramping up its development activity following a quiet period, is lined up to buy one of the last large development sites on the Williamsburg waterfront.

The Midtown-based development firm is in contract to buy the Rose Plaza site at 470 Kent Avenue from Abraham Rosenberg, sources told The Real Deal. The contract price is somewhere between $180 million and $185 million, sources said.

The company, headed by founder Miki Naftali, is working with a group of roughly half-a-dozen unidentified investors to purchase the prop新爱上海同城对对碰论坛 上海同城对对碰交友社区erty, a source told TRD.

Representatives for Naftali and Rosenberg did not respond to requests for comment.

Rosenberg started going through the city’s land-use review process in 2008 to rezone the South Williamsbur爱上海同城 爱上海g site to make way for a large-scale residential project. In 2010, the city approved a rezoning that allows for a set of five of residential towers on the 2.3-acre site with 754 units.

In return, the owners agreed to set aside 226 units as affordable housing a爱上海龙凤419桑拿 上海龙凤论坛sh1fnd build out a public waterfront esplanade along the East River.

But the project still had hurdles to overcome in order to be realized. Rosenberg and his brother Isack came to realize that the property – a lumber yard that through the years had been used for several different industrial purposes – was contaminated with petroleum, pesticides, PCBs and other pollutants.

They also had to contend with the financial crisis and Isack’s untimely death in 2016 in a drowning accident off the coast of North Miami Beach in Florida.

As early as 2013, the Rosenbergs had looked to sell the site to a developer. They hired the now defunct Eastern Consolidated to market the property, with an asking price of $210 million.

Interest in the site seemed to fizzle – some people familiar with the property have cited the environmental remediation as a significant challenge to overcome – but in 2015 potential buyers started sniffing around again, and the property was said to be valued in the area of $250 million.

According to a lawsuit Isack Rosenberg’s estate filed in 2017, developer Roy Stillman and Michael Fascitelli’s Imperial Companies in 2015 entered into an agreement to join the Rosenbergs in a joint venture to develop the property under the state’s Brownfields program. The two sides apparently had a falling out, though, and had to settle their differences in an arbitration.

In the meantime, the Williamsburg waterfront has boomed around the Rose Plaza site. Three blocks to the north, Eliot Spitzer is wrapping up his 420 Kent Avenue development. And on the northern side of the Williamsburg Bridge, Two Trees is making progress on its Domino Sugar development.

Naftali, mean[……]

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