Distress: New Condominium Development
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