Vanke already will have a presence in NYC with a 61-story "high-end condominium project located in Midtown Manhattan."
http://online.wsj.com/news/articles/SB10001424052702304071004579406461707487956
Sunday, May 11, 2014
Could Tishman-Speyer Return to PCVST in a Partnership with the Chinese?
Could Tishman-Speyer return to PCVST in a partnership with Vanke, the largest Chinese real estate development company, now expanding into the United States. The two entities have already combined financial forces. Warning: The year-old video below contains an interview with Rob Speyer. Not to be viewed while you are eating or if you have a heart condition or are frightened easily.
Vanke already will have a presence in NYC with a 61-story "high-end condominium project located in Midtown Manhattan."
http://online.wsj.com/news/articles/SB10001424052702304071004579406461707487956
Vanke already will have a presence in NYC with a 61-story "high-end condominium project located in Midtown Manhattan."
http://online.wsj.com/news/articles/SB10001424052702304071004579406461707487956
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12 comments:
China = Density Strategy
NY = Density strategy courtesy of de Blasio
Next - smog, viruses, illness that come along with human population density strategies in the name of RE greed.
We are supposed to learn from human error not repeat it.
Open space is healthier than density packed.
Up until 1988 the post war real estate market in the US was fairly stable rising at about 5% per year. As of 1988 real estate can no longer be described as stable and when the big real estate interests go down, it's like the big banks...we all go down. As of this moment, the real estate market in China is already grossly over-extended. Private citizens buy the apartments on spec thinking they'll clean up. But the innumerable residential buildings put up on speculation remain empty. If Tishman-Speyer is getting involved in China, it's just greed chasing more greed. It will be the second big fall for Speyer. China itself recognizes it's in a bubble and is trying to curb some of the private buying. But it's too late. When the bubble bursts in China, real estate throughout the world will be hurt. A caution to anyone thinking of buying if PVCST is offered.
That guy is so hideously ugly that he really should be required to wear a bag over his head. I know everybody's entitled to be ugly, but he just takes advantage.
>>Open space is healthier than density packed.<<
I'm sure we'll get a pro-RE comment about, "Well, then, move to the country!"
I'm very much against density in the city where it is already dense. NYC has already been labelled as one of the most stressful cities in America (I believe it came in at #2 in a recent survey), and density contributes to such stress and also places a stress on the city's resources. There are areas of the city, like the other boroughs, where one can build without affecting people's quality of life, but a lot of Manhattan is already "taken up."
I also have to add that Stuyvesant Town is getting more and more dense with the extra addition of thousands of students who pack themselves into the apartments here. Today is a beautiful day to sit outside around the Oval, but it's so filled with people that it's hard to find a cozy nook, especially with the minimalist landscaping that now rules the Oval.
With all RE incestuous alliances and shell companies no doubt they will be involved in us. Anyone know the people who make up ST Owner LP? I am sure there linkedin pages are as vague as Mr Hatsell. Who are these people?
>>A caution to anyone thinking of buying if PVCST is offered.<<
I can see a lightbulb still on for Robbie, however. He already has bridged the gap with the Chinese and may give Vanke, or some other Chinese company, pointers on how to acquire and manage PCVST, if Tishman-Speyer decides not to come back. Consider this, too: He probably would love to come back in some fashion and correct his failure here, a second chance that would smooth over his professional embarrassment at being a loser with Tishman-Speyer's first acquisition of the property.
Most of the people who were Tishman employees never left. They have been here all along. They use pseudonyms to hide their Tishman affiliation.
Was never a fan of the whole condo coop thing, but starting to rethink this as are many people here.
Things are getting worse by the day. the ship has sailed and even (let's be honest) if we had a decent landlord EVER, they cannot run the place without exorbitant rents if we are to stay on as is (i have a great rent here, ftr....) Perhaps being part of a coop of owners such as ourselves, we could do a better job of this. Certainly can't get worse. At least we'd write our rules. Fucking crowded is right, - up all night pc party of students - but it's only going to get worse from here on...
What? There are plenty of other cheesebags who are interested in overpaying for ST-PCV the second time around who don't have the baggage TS does. The RE market may be dejá vu all over again, but the political climate in NYC has changed. CW cap would probably like to continue to do biz in NYC and handing the reins to TS/China isn't the way to go about it.
May 11, 2014 at 3:29 PM
As Bagli said in the book, CW Cap thinks the TA/Garodnick were trying to get the place on the cheap. Now the next wave of big fish are waiting to overpay for us again. Expect more of the same old thing in brand new drag unless somebody somewhere on our side has a magical pony.
Lmao. I would not be surprised and been thinking this all along.
The banks walked away totally unscathed, were given Billions and then MADE $ of the loan.. Why not Robbie?
http://www.nytimes.com/2014/05/14/nyregion/stuyvesant-town-lender-prepares-to-foreclose-on-a-loan-for-the-complex.html?hp&_r=0
here it comes...
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