Distress: New Condominium Development

May 14, 2020
Zoom Conference Call

Produced and conceived by PincusCo Media LLC.

There is wide agreement that condo values have fallen. We asked our panelists for insights on how steep the decline has been and turned to options developers have to hold on or to sell. Also discussed were options investors have to buy and how brokers fit in all of this.

Panelists included:
Jonathan Adelsberg, Partner at Herrick, Feinstein, LLP
Amit Doshi, Senior Executive Managing Director at Meridian Capital Group
David Neveloff, Principal at Alder Street Capital Partners
Christopher Okada, President at Okada & Company
Adam Pincus, founder of PincusCo Media, moderated

AGENDA
Market overview
- Percent decline in pricing
- Baseline numbers for condo sales
- Asset class differences
- Borough differences
- Transaction volume

Developer options
- How to hold on to project
- How to sell project
- Convert to rental
- Keeping low profile during sale

Investor options
- How to invest equity
- How to invest debt
- Navigating the secretive nature of investment

Finding opportunities
- Data analysis
- Brokers
- Legal filings, i.e. foreclosure, bankruptcy