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February 3, 2009 
Monday Properties



Yesterday, panelists at a joint NYSCAR/CCIM/SIOR/CIBS/CoreNet Global/LICN “Groundhog Day” breakfast at the Milleridge Inn in Jericho saw their shadow: Long Island commercial real estate still has a long winter ahead.


From left, Sutton & Edwards’ Ken Enos, Massey Knakal’s Al Holloman, Schacker Real Estate’s Phil Schwom, T. Weiss Realty’s Ted Weiss, NAI Friedland’s Steve Kornspun, CB Richard Ellis’ Ray Ruiz, and Great American Brokerage’s Paul Fetscher. These guys are so cheerful and organized, we can’t decide if they look more like a board of directors, or ticket takers at a REBNY dinner.


Panelists said it’s time to get back to basics and seize opportunity, make corrective decisions, don’t dwell on the doom and gloom. Last year’s office market was a challenge, but we still came out historically strong; this year is too early to tell. Expect industrial drops, but long-term holders are well-positioned to wait it out. Since LI doesn’t depend on one industry, occupancy will remain stable. Outlet retail is performing much better than regional malls, and white-table restaurants will give way to more grocery shopping.


MacCrate Associates’ Jim MacCrate, Ted Weiss, National Brokerage’s Jeff Ferretti, and Eisenoff Appraisers’ Myra Warman. Appraisers Jim and Myra say they are protecting us taxpayers by “valuating” the NY Department of Transportation. Myra’s also seeing more estate planners wanting reappraisals—for the same properties she worked on only eight months ago.


Lending party! NY Business Development Corp.’s Charles Schreiber and Stanley Grochocki flank Kohl Capital Associates’ Jason Kohl. Jason tells us his business is thriving, especially in office and restaurant. NYBDC provides innovative loans to small and medium-sized business.


We were on hand yesterday as Michael Bailkin, founder of Stadtmauer Bailkin Economic Development Group, spoke to 70 National Realty Club members over lunch at The Williams Club on East 39th. Michael, here with NorthMarq Capital’s Tom Graf, NRC prez, has contributed his zoning expertise to the redevelopment of Brooklyn’s Atlantic Center and Metro Tech Center.


Michael says NYC’s incentives are problematic. Clawback provisions call for loss of incentives and a 2x penalty if you can’t meet job levels and other standards. Rigorous enforcement in this economy may cause firms to leave. He says government needs to focus on retaining companies; generating transactions and jobs; and developing creative incentives.


LePatner & Associates’ Ron Feingold, Fidelity National Title’s Isabelle Pullis and NRC member Alex Silverman. Isabelle tells us she visited Shanghai in early December to see the launching of a cargo ship built by a friend, and perhaps even more exciting, won Sunday’s football pool.


Anchin Economic Development’s Richard Imprescia, Newmark Knight Frank’s Glenn Elliott, SB-EDGe’s Bonnie Rubin and Michael Bailkin, Premier Partners’ Ruth Furst, SB-EDGe’s Beth Zafonte, and Arc Development’s Irene Susmano. Glenn’s a dedicated dad: his teenaged daughter’s boyfriend moved to Spain on Friday, and he was sent out with a pre-move gift list that included stops at Tiffany’s and Saks. And he didn’t complain.

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