Also in this playlist...
This transcript is automatically generated
Frequent guest on this program announced his first real estate deal with and in New York City.
The Peebles corporation will pay a 160 million dollars for 346 Broadway Don -- joins us now festival -- I want a publicly apologize.
I may be in pejorative about this deal and I did not mean to do that I think I suggested that posed a question is the sweetheart deal.
I'm sorry if I said I don't mean to offend.
Tell me why I am so -- -- wrong with the one your competition the public go private RFP process where there were numerous bidders.
Dozens and dozens -- -- understood as high as eighty bidders for three different properties.
And so they negotiated.
-- I was all the bidders for about almost a year from April of last year to February 5 to march of this year really and we -- -- OK so -- process.
That's our new paying a 160 million dollars for this property in New York City what's the significance -- you take your first big deal in New York City and -- -- big gone the real -- business was this a.
And evidence that -- couple things one -- the landmark building that was the original headquarters where New York Life Insurance Co.
so it's an iconic historic building a network that we're fully restore beautiful bill thank you.
-- we -- also donating.
151000 square feet of space to for community arts.
On making available fifteen that I quite a yen took it into condominiums.
That -- those condos and Huff and -- with hospitality is going to be very high end stuff that yes that is gonna create a lot of jobs -- a lot of job object to his wife and is not a problem that you -- a big Obama supports.
-- I have been about it there's strong support the president's been bashing the rich and now you'll gonna.
-- the rich and make money from the rich which by the way.
The president's now bashing the rich but he's certainly talking about making all -- pay more taxes but.
-- -- -- -- And so you know from weird to -- president President Obama is President Obama speaks for himself and his administration and I speak for myself.
We are looking to create a lot of jobs hundreds of jobs -- for New Yorkers.
And create more housing downtown which is needed.
-- a more long term jobs and we're really excited about.
This a play on the area that they can have the freedom -- going to be ready -- -- that's gonna but should spark -- amazing.
Like their -- that a play on the overall economy.
Both you know Freedom Tower gonna bring more like -- but there's a tremendous demand.
Offer new housing -- -- have you looked just in this weekend's newspapers in New York time for example big stories about will this bubble that's going on -- Miami.
And a New York City and another Gateway cities globally continue or slowdown and and and the consensus -- it will continue and so we see that there.
And we see also there's a demand for.
Our historic buildings and not necessarily those that are kind of -- cookie cutter glass.
What do -- has a lot of us is that there -- -- world capitals outside London.
May be set in New York may be even Singapore.
Will capital's financial leaders well high end real estate is going through the roof -- -- the state of the underlying economy.
-- -- -- Yes no and I look I think that again there's been the Fossett was turned off for quite awhile during the last recession and so now.
There's there's there's -- -- their lowest we've ever been in the Gateway cities -- again New York Washington DC Miami.
London and so and other places and so now there's there's going to be more construction -- -- much more of that.
Which is a good for the economy.
You paid the money you got the deal congratulations on people's princess thank you.
Filter by section