I develop mixed use properties. $2B . NYC. DMs open
Joined May 2023
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20 May 2023
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.
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Broker just told me the vibes on the ground are why I should pay more and that I need to ignore the data for rent comps. Gotta love the chutzpah.
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Lots of different folks in lots of different areas of finance telling me mkts quiet. Real estate, hedge fund guys, PE, litigation finance ..going to maybe get interesting pretty soon. Not a positive or negative, just an interesting sentiment.
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Always a great feeling when you email a trusted broker for some comps and they respond they are bidding on the deal too…
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🙈 Just spent 1.5 hours typing up 2 LOIs. It’s pre formatted but I needed to add to one of them-it can take time. And what do you know - broker reaches out as I’m hitting send - they received a full price offer that got accepted. 24 hrs from inbound to LOI is sometimes too slow.
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folks - I’ve been underwriting institutional deals for the last 10 years. Work at one of the largest devs in NYC. I’ve recently had friends ask me to build them models or assist with analysis. I’ve been toying w posting the models. Would anyone actually download these (free)?
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Snail mail letters actually work. Handwritten letter to an owner I came across while trying to buy an industrial property nearby…got a call back 5 days later. Contact combat is the name of the game.
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When an appraisal comes in high its instant equity and syndicators brag but when it comes in low it’s always wrong🤥
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Friends: I’m in need of a General contractor introduction in Chicago for 50 units of new construction apartments. Does anyone have any contacts they can make an intro to?
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My new favorite tool for analyzing a rural location - On the Map LODES from the Census
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Told broker I was passing on an asset as it’s in a flood zone. Broker tried problem solving (which I appreciated) but his solution was a written statement from the seller that the asset hasn’t flooded under seller ownership! Love it! Totally gonna get me there.
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Just had a seller tell me I am paying a 3 cap bc the air quality is just better in the mountains and people are moving here
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Texas does it again. Just called an assessor office and got notice they are closed for the holiday….what holiday might you ask. Texas Independence Day. We don’t get that in Ny
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Just joined the got blocked by stripmallguy club! Didn’t pass judgement on a strategy bc I don’t have enough info @RandallHouseRE and challenged stripmallguy that he wasn’t asking the right questions or enough questions to pass judgement. Crazy ppl will block you for disagreeing
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Started using Real AI over Chat GPT ..much better for real estate stuff
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17 Dec 2025
Saw a new deal hit the market by a small unknown brokerage - reached out to the managing partner & associate. MP responded that the associate will send the info next week as they are away this week. I struggle to understand how some people operate like this.
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14 Dec 2025
Trial / error / and a willingness to just keep trucking. Thats about it. The trick is knowing when to cut a trial and you’ve hit an error.
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12 Dec 2025
Hang around the hoop is sometimes the easiest and best acquisition strategy. Just call the broker month after month when something you want is sitting on the market. Sellers will get realistic.
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9 Dec 2025
Anyone else read posts and realize that someone is using ChatGPT to write for them? It’s pretty hilarious and the writing doesn’t feel natural.
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27 Nov 2025
Saw a few new deals Monday / Tuesday. I was surprised as it’s Thanksgiving week. Followed up w the brokers immediately to get the info. Still crickets-assume traveling
Broker friends - why list deals Thanksgiving week? Most ppl are traveling. Why not wait until the week after?
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20 Nov 2025
If AI is in a bubble, the amount of dollars being spent on AI alone, when lost, will wipe out so much money it will help stop inflation. Thoughts?
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