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Posted: December 28, 2012
Josh Goldflam, Highcap Group
Contact Name : Josh Goldflam
Company Name : Highcap Group
Email : [email protected]
Phone : 646-546-5880
Fax : 212-575-0022
Address, City, State : 57 West 38th St, Ste: 605, NY, NY 10018
What was your greatest professional accomplishment in 2012? : Selling 2 prime buildings in the east village that I had already sold to the present day seller back in 2006. Its always nice to be able to sell a property more than one time and nice to be able to help my client earn a nice profit during his ownership.
What was your most notable project, deal or transaction in 2012? : Selling a 90,000+ square foot development site right in the middle of the Fulton Street Mall in downtown Brooklyn. This will be the first new construction high rise building in some time which may be a hotel or condo, or combination of the 2 with excellent ground floor retail frontage.
What are your predictions for commercial real estate in 2013? : Unfortunately, i believe that investment sales volume will be decreasing in 2013 due to tax changes and potentially rising interest rates. Core product in NYC's boros will still be sought after as there is still a lack of supply in the marketplace with plenty of cash always looking for good deals. Development sites will remain on the upswing and I believe the residential condo/coop market will improve considering the strong rental market. Retail/Office/Residential leasing should remain stable throughout the year.
What are your resolutions for 2013? : To do many more deals and make more money than I did in 2012. Also to help train my junior brokers in the office to be more productive and better deal makers.
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