This is Bisnow's podcast series, "Let’s Have A Drink," where we sit down with the personalities who shape Washington, D.C., real estate — one of the most complex and affluent markets in the country. Hosted by Bisnow East Coast Editor Ethan Rothstein, we examine the deals, the disappointments and, of course, drinks of choice. You can subscribe on iTunes, Spotify or listen on SoundCloud.
This week, Bisnow sits down with Bob Murphy, co-founder and managing principal of MRP Realty, at Tony and Joe's in Georgetown's Washington Harbour. MRP launched in 2005 and has grown to encompass $5B in development and acquisition deals across D.C., Philadelphia and New York City.
Over locally brewed IPAs, we talk about getting his start in real estate after serving in the U.S. Army, MRP's massive development in Northeast D.C., his work building affordable housing on city-owned land and working at Trammell Crow during the 1980s and '90s.
"When they interviewed me, they told me I'd be a millionaire in three years. Obviously that didn't happen," he said.
He started at Trammell Crow and the recession of the late '80s hit almost immediately.
"I think learning in a downturn like that, there's some benefits when you're young, your expenses aren't as high. Actually timing wise, it's probably ideal. I look at a lot of the young folks in the industry now, I mean, you could be in your 30s now and never have seen a downturn."
