Jeff Levine: 'Cockeyed Optimist'
The Times ran an interview with Jeff Levine this weekend in which the developer of Williamsburg’s Edge, a self-described “cockeyed optimist,” talks about the present market’s challenges. Levine says lack of financing is the biggest barrier to recovery these days but that he thinks New York, last to the downturn party, will also make one…
The Times ran an interview with Jeff Levine this weekend in which the developer of Williamsburg’s Edge, a self-described “cockeyed optimist,” talks about the present market’s challenges. Levine says lack of financing is the biggest barrier to recovery these days but that he thinks New York, last to the downturn party, will also make one of the quickest exits. More interesting: Levine says Phase 2 of the Edge is unlikely to be on the drawing board anytime soon because of lack of financing, and sales at Phase 1 of the development while marked by high points like the sale of a $5.25 million penthouse are basically stalled at the 20 percent mark. Nevertheless, unlike neighboring Northside Piers, he’s not dropping prices at the project: “We have not reduced prices at all. Obviously, if we have a willing partner who wants to buy a unit, we will work with them to facilitate their purchase whether that means we help with their closing costs or help them with their parking requirements.”
The 30-Minute Interview: Jeffrey E. Levine [NY Times]
Photo from The Real Deal.
cafe con lechacal: you would also make a better president that obama. lmao.
are you upset he’s put his money into a project that will almost certainly lose money? why?
don’t know the guy and I agree that he will almost certainly be taking a bath.
I just don’t get your schadenfreude.
Petebklyn: Yes, I can confidently say that I know better than this guy what will sell the apartments. He needs to cut the prices down to current market, not offer free parking spaces.
I can also report that I would be a better risk manager than Angelo Mozilo, a better fund manager than Bernie Madoff and a better head of FEMA than Michael Brown. Do you have a problem with any of that?
Right Pete, lets not dare to question him. After all, all those other developers didn’t just take a huge bath. And none of them were lookers.
overpriced? Probably.
is he foreclosed? Probably not.
is it his money-at-risk? Probably.
Good for him.
The rest of us just have (stupid) opinions.
Worth exactly what they cost to type.
Though I bet he burned a stack of New York mags recently.
uh it doesnt take a genius to realize something is horrifically overpriced! and he has a serious case of Five-Head
*rob*
yes, you guys know so much more than big deverloper guy.
You are experts in finance, economics, real estate, marketing. He is just some twit that knows nothing.
I’m sure you all make big bucks compared to this idiot.
So – how do you think he got the job….his looks?
lechacal summed it perfectly, so I will simply repeat his last comment: Epic, absolute, complete, total, utter fail.
Not reducing prices? What a brilliant cunning plan.
Buyers will soon be jumping all over the Edge. Like lemmings.
i would call Rob a “cockeyed pessimist”