Mark Zborovsky is the president of Mark Zborovsky & Co., Inc., New York, N.Y.
What was one of your corporate or career highlights of the decade?
About three years ago I arranged a sale of a large block of sponsor co-ops in Rego Park. In the end the problem was that the president of the board (a recent Russian immigrant) hated the sponsor, and did not want to approve the sale. While the lawyers and principals were finishing up the closing documents, I went to the board president's place of business (a food store in Brooklyn), drank half a bottle of vodka with him, finally convinced him (in Russian) to sign the co-op board's approval for the sale, and then drove back to Manhattan-to deliver the last and the most important document to the client-to allow the sale to go through.
What are your predictions for commercial real estate in the new decade?
Probably another run up in value and another bubble by 2019.
Tags: