Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
|We then hopped over to the Helmsley New York for IREM’s Third Annual Asset & Property Management Symposium, where Angus Energy’s Dan Silverman and JDM Associates’ John Klein (flanking moderator Nicholas Stolatis of TIAA-CREF) spoke about benchmarking, a topic on the industry’s lips thanks to NYC green legislation. You need to know where you’re standing in energy usage, John says, as the legislation will effect over 22k buildings sized 50k SF or more, forcing them to be more transparent. Dan touched on strategies for controlling costs in the inflated and uncertain fuel market and explained how your decision between fixed, variable, and budget pricing could save you money depending on your situation.|
|The all-day event capped off with a keynote by Carlyle Group managing director Robert Stuckey, who discussed macro elements effecting today’s market. Positives include sustainable productivity growth and globalization, but he says we’re also experiencing a more negative slower population growth and deleveraging. 7.5M jobs have been lost, which has put pressure on real estate, but he finds some relief in a dearth in supply. Both Manhattan employment loss and the recession have been milder than we thought, thanks to financial sector support from Washington and a rebound in the stock market. He sees investment opportunities in data centers, rentals, and senior housing, while office and hotels will see more in Q4, and retail in ’11.|