Babs: 'Don't Ever Underestimate' New York
In her Daily News column on Friday, Barbara Corcoran busted out some major league cheerleading for the New York real estate market that was surprising even for her given the state of the economy and the downward momentum of apartment prices in the city: All the financial mess here in New York City is really…
In her Daily News column on Friday, Barbara Corcoran busted out some major league cheerleading for the New York real estate market that was surprising even for her given the state of the economy and the downward momentum of apartment prices in the city:
All the financial mess here in New York City is really just a speed bump on the way to future riches. I’ve lived through real-estate markets a lot more hopeless than this one, and every time the city turned around and bounced back, taking real-estate values up with it. In 1974, I listed a 14-room, park-view apartment in the famous Dakota on Central Park West. The price the seller set was absolutely nothing! Zero! The owner was willing to literally give it away if I could only find some sucker to take over his monthly maintenance. I couldn’t find the sucker. That same apartment was sold five years ago for $18 million. New York City is a boom-bust-boom town, especially when it comes to real estate. Don’t ever underestimate its power to bounce back with bigger and better values.
Go, go, go!
Ask Barbara [NY Daily News via Curbed]
What's Your Take? Leave a Comment
So let me get this right BHO….In order to somehow personally drive down prices with your web based fear mongering you are both advocating that new parks projects get canceled and cheerleading for a Third World War? You are completely off your rocker!
I don’t suppose her cheerleading could have anything to do with the fact that she’s personally and heavily invested in the NYC Real Estate and bought quite a few properties from 05-07 in marginal neighborhoods including Red Hook and Bed Stuy. If she’s so smart, why did she buy at the peak?
Right, wine lover. It was those damn social programs that got us into this current mess!
of course Babs is right. why would anyone think otherwise.
we are not going to give up on making money. we are damn smart us americans in new york.
of course Obama’s gov’t will try to zap us with taxes and gross social programs where bureaucrats pocket all the money. but hopefully, he’s toast in 4 years. imagine the democrats lose many seats in the next election in the legislature.
They always trot out the conspiracy theories when their logic is attacked. Pathetic.
“Nor will anyone else these days, BHO. It’s not going to repeat itself. Get a grip.”
You’re right. It’ll surpass itself. Economic distress not seen since and worse, no manufacturing base. It’ll take a war with China and their growing alliance with Russia to get us out of this one. Stop pressing snooze on your alarm clock. The dream is over.
***Bid half off peak comps***
She’s right – in 2015.
“You’re a liar, BABS. You haven’t experienced the Great Depression”
Nor will anyone else these days, BHO. It’s not going to repeat itself. Get a grip.
“All the financial mess here in New York City is really just a speed bump on the way to future riches.”
But NYC’s got the sport package (lowered chassis, firm suspension, low profile tires and spoiler kit). WHAM!!! SCRAAAAAAAAAAPE!!! [sparks fly and smashed up body separates from chassis – total wreck, call Geico]
“I’ve lived through real-estate markets a lot more hopeless than this one, and every time the city turned around and bounced back, taking real-estate values up with it.”
You’re a liar, BABS. You haven’t experienced the Great Depression.
***Bid half off peak comps***