Expect Competition for Another Year
At Zar Property NY’s recent party on the roof of its 349 Fifth Ave, Rosewood Realty Group’s Mike Kerwin (right, with Keystone Equities’ Jonathan Zamir) tells us Rosewood has closed 103 sales totaling 230 buildings and $1.6B this year, and he foresees a fiercely competitive market through at least Q4 ’15. Keystone has been making value-add retail investments and is one of the most active owners on the Canal Street corridor, Jonathan says. It's also looking throughout Manhattan, recently made its first Brooklyn investment, and did a small retail deal in the Bronx. (Are they just following the NY Marathon route and making deals along the way?)
DSA Management’s Arik Lifshitz and the host, David Zar, who tells us his company just signed a development site in Tribeca and three leases in SoHo.