RCA Holiday Party / MIPIM / Rolf's

RCA Holiday Party

This week, RCA (Real Capital Analytics) held their joyous holiday celebration at the Chelsea Arts Tower, a 20-story commercial condominium located on 25^th street between 10^th and 11^th Avenue in NYC.  Designed for galleries and art-related business it is Manhattan’s first art gallery condominium.  Everyone was ‘gaga’ over the most incredible Manhattan views.

The entertainment at RCA’s party was provided by Elliot Zimet, a master illusionist.  It was difficult to comprehend anything Elliot did.  I just shook my head and said, ‘That’s impossible!’  He is definitely someone to keep in mind when thinking about distinctive entertainment for your next event.

As many of you may know, I have had a close affiliation with RCA since shortly after their launch in 2000.  Attending this event is special for me – having watched them evolve, from a three-person start-up to becoming the leading provider of investment sales data and capital market trends in the commercial real estate business.  RCA has had a major impact on how real estate investment decisions are made. They continue to be on the leading edge of creating products and services that will take the industry to the next level. It’s a great story!

MIPIM

This week I spoke with my long-time industry friend, Patric Dolan, who heads business development for MIPIM in North America.  MIPIM is the premier global commercial real estate event to be held March 11 -14, 2014 in Cannes, France. 

Being fortunate to have attended numerous times I can personally attest:  The MIPIM experience is exhilarating.  It will get your creative juices flowing and give you the opportunity to network and begin building relationships that, in time, may result in truly unexpected possibilities.  

You will leave having met commercial real estate professionals from all over the globe; been exposed to some of the world’s most inspired real estate developments and have your finger on the pulse of the commercial real estate industry worldwide.

I encourage you to consider allocating the time and making the investment to attend, as it truly is an investment more than an expense.

But if you’re looking to have expenses as well, I’ve known a few US colleagues to enjoy a post-MIPIM weekend in the south of France – not a bad place to debrief and unwind!

Rolf’s

Imagine that you are in the middle of a Christmas tree…a large one at that.  What do you think it would look like?  What would it feel like?  Well, this week I had the opportunity to experience just that. 

I met some friends at Rolf’s German Restaurant (Third Avenue and 22^nd St.) in Manhattan.  It was my first time there and won’t be my last.  On the walk over I was given the following disclaimer: “It’s going to be crazy busy.  We probably won’t even be able to make it to the bar and, if we get close, we won’t get a seat.  But the decorations are incredible.”  And, that they were!  While these photos give you a taste, this is really something you need to see to believe. 

Using the power of positive thinking, we managed to secure two seats at the bar before the rest of our group arrived. The friendliness of those around us was true to the season (perhaps it’s always that way at Rolfs…I’ll need to go back again to confirm!).  And, sitting in the midst of the spectacular decorations, I felt like part of the tree.

The decor at Rolf’s changes with the season…a good reason to return periodically. If you are in NYC for the holidays and want a very special experience, go to Rolf’s… I recommend the eggnog.  It’s a wonderful way to become one with the holiday spirit.  

On The Road...

Jan. 7 – 9:  Emerging Managers Conference, Austin, TX

Jan. 15 – 16:  New business development meetings, Washington, DC

Jan. 22 - 24, 2014:  IMN (Information Management Network) Winter Forum on Opportunity and Private Fund Investing, Laguna Beach, CA

Mar. 11 - 14: MIPIM, Cannes, France

May 4 - 7:  CRE (Counselors of Real Estate) Mid-year meetings, Austin, TX
May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

Alex Hesterberg / Welco Realty Party / OTR Readers Write Back

Alex Hesterberg

I heard the sad news this week that Alex Hesterberg passed away after a very long fight with cancer. My thoughts are with his family during this difficult time.

Alex and I met years ago at a dinner hosted by his long-time former employer Chase Manhattan Bank. We were randomly seated next to each other during an International Council of Shopping Centers (ICSC) convention in Las Vegas.  It was the start of a friendship that lasted, on and off, for almost 30 years. 

I remember years ago, right around this time of year, Alex said to me, “Steve, you need to have a hat.”  So he took me, protesting all the way, to this now long-gone legendary hat store on Madison Avenue and helped me pick out a dressy gray hat - like my grandfather used to wear.  I was never comfortable wearing hats or thought that I looked good in a hat but I went along with it as, to me, Alex was one of those people I just couldn’t say ‘no’ to.  And, I can tell you that I actually had some fun in the process. At some point, in all my moving around, that hat disappeared.  But for years, whenever I saw it at the top of my closet, I thought of Alex and fondly remembered that day. 

For many years, Alex and I had a Christmas tradition of getting together for a long lunch and a few cocktails.   It was something we both looked forward to.  If memory serves me well it was Alex that introduced me to the martini.   Tonight I will raise a glass, close my eyes, and toast my friend Alex Hesterberg who made a difference in the commercial real estate industry and in the lives of people he touched. Thanks for the memories, Alex.

The email below from Mary Walker Fleishman, President of The Counselors of Real Estate (CRE), is a wonderful testimonial to Alex.

“It is with sadness and admiration that I share with you the passing of Alex Hesterberg, a 23 year member of The Counselors of Real Estate, on Saturday morning, December 7, 2013, after a long and tenacious battle with cancer.

Alex served for many years as a Managing Director of Deutsche Bank, specializing in credit risk management and valuation, a practice, which was international in scope.


Alex was known for an intense personality and a penchant for bright colors, worn with flair and the ever-present matching pocket square. He was never reticent about expressing a point of view, which he did with regularity on issues involving politics, the profession, and life in general.  One always knew when Alex Hesterberg was in the room, and the world will be a quieter, far less interesting place without him.”

Alex Hesterberg

Welco Realty Party

During my career I’ve had the opportunity to work in several different ‘neighborhoods’ in the commercial real estate world.  One that I spent many years - the shopping center industry. This past Monday night I visited that ‘neighborhood’ again.  Welco Realty invited me to their holiday party hosted by partners Jerry Welkis, Allen Cooperman and David Sternchuss.  It was like a walk down memory ‘mall’. 

At the party were many of my old industry friends whom I hadn’t seen in years.  Several times, when I caught someone’s eye, I stood still - realizing they might need a brief moment to process who I was. When I approached, there were lots of hugs and kisses. In a few instances, being introduced to someone by a friend, the other person said, “I know your name…but can’t remember from where.”  The evening became an enjoyable game of ‘industry geography’ until we were able to connect the dots of our history.

It was a cozy feeling on a bitterly cold night to be amongst a group of retail real estate professionals that I had worked with - and next to -for so many years.  Many of my industry connections still thought I was living in California and hadn’t realized I moved back to New York.  Others, knowing I had reinvented myself a number of times were curious and asked, “What are you doing now?”  When I told them about Behavioral Presentation Coaching, the response from some was, “I know exactly what you mean.  I know groups who can use your help.”  That is always encouraging from a new business development standpoint and I left the evening with a number of follow-up calls and meetings to be scheduled.

I’m a very lucky boy to be part of the global commercial real estate community and be able to visit different ‘neighborhoods’ from time to time.  It’s very special to find those friendly faces, sincere handshakes and open arms bringing warmth to the holiday season.

OTR Readers Write Back

I received emails this week from OTR readers sharing their memories of Christmas in New York City. Here are two I want to share with you:

“I love the tree too. And you are right...this is what NYC is about! I came here in November 1985 from California with my job located at 1 Rockefeller Center. Can you imagine a California girl arriving in New York City, working at that address, watching all the skaters and seeing the lighting of the tree?? I thought I had died and gone to heaven. Still get chills thinking about it 28 years later.”

***

“I enjoyed your recent posting about New York at holiday time.  I have always loved going to the city at this time of year.  My first visit, right after grad school, was during early December.  I was like a kid in a candy shop as we rode in the cab to our luncheon meeting, turning one way and then the other to see all of the decorations.  I only wished I could stay and not zip back to the airport right after lunch for the trip home.

And my claim to fame, I have actually skated on the Rockefeller Ice Rink during one of my holiday visits.  My daughter and I got up early to be there when it opened so that we could actually skate and not be hemmed in by the crowds.  What a cool memory!”

I’d love to hear your story of spending the holiday season in New York.  Or let me know when you’ll be in town – we’ll create a new memory!

 On The Road...

Dec. 19: Real Capital Analytics (RCA) Holiday Party, New York, NY

Jan. 22 - 24, 2014:  IMN (Information Management Network) Winter Forum on Opportunity and Private Fund Investing, Laguna Beach, CA

Mar. 11 - 14: MIPIM, Cannes, France

May 4 - 7:  CRE (Counselors of Real Estate) Mid-year meetings, Austin, TX

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation. 

Historic Real Estate In New York City / Commercial Real Estate 101

Historic Real Estate In New York City

This week I had the opportunity to celebrate the holidays at two historic real estate landmarks.  On Tuesday night it was the Apollo Theatre in Harlem - a legendary music and cultural venue.  Former Doobie Brother pianist and lead singer Michael McDonald brought his “Evening of Holiday & Hits” to New York City. 

The Apollo theatre is in beautiful condition and the sound was exceptional. The staff couldn’t have been friendlier.  McDonald and his band played holiday songs as well as a number of big Doobie Brothers hits.  The audience was on their feet dancing! It was so much fun!! His message of peace and understanding was punctuated in the final encore song, ‘Takin’ It To The Streets.’ 

But this was only the appetizer.  On Wednesday night I had the privilege of attending the Rockefeller Center Tree lighting ceremony with my business partner, Liz Weiner.  Thanks to the generosity of Steve Wechsler of Tishman Speyer, we were in attendance at the 81^st Annual Tree Lighting Ceremony.  It was a beautiful night in New York.  Thousands of people had lined the streets by late afternoon hoping to get close enough to see that special moment when the tree lights are turned on.

Having an invitation allows you direct access to the party held in the Sea Grill restaurant.  Interestingly enough, once inside, you find yourself wanting to go back outside and be closer to the tree! When we got out and worked our way up to one of the observation areas it was truly a site to behold – in addition to the thousands in the street, there were hundreds of people standing in the windows of the office buildings that look down on the tree; their silhouettes looked somewhat surreal.  As the time for the tree lighting drew closer, the windows filled up, as did the carpet-covered ice skating rink. 

While I have previously attended this festive event, this was the first time I was able to find a spot outside, right in front of the tree, and be there when New York City Mayor Michael Bloomberg and Tishman Speyer’s Jerry Speyer flicked the switch that lit the 45,000 colored lights on the 76-foot tree.  

All major cities of the world have architectural wonders. For me, New York’s Rockefeller Center always brings back fond memories during the holiday season.  I remember the tradition of driving my sons in from New Jersey when they were young, on a random Sunday evening, just so they could see the tree. 

But it’s more than the ‘tree’…it’s the people ice skating, the flags blowing in the wind, the lightshow of snowflakes on the skyscrapers and the confluence of a global community. It’s the feeling and the energy created by the season and the enjoyment that fills us up during this time. Many tourists seeing the tree for the first time, and others - New Yorkers like me - who take every opportunity to walk the promenade (I especially like to see the statue 0f Prometheus on that promenade overlooking the ice) smiling to themselves with the thought, “This is what New York City is all about.”  

Come visit New York City this holiday season.  It’s magical!  

Commercial Real Estate 101

During a breakfast meeting this week the talk turned to the number of college students in university real estate programs and their plans after graduation.  Both my breakfast partner and I agreed on a recommendation for these students: learn the business from the ground up!

We talked about the life cycle of income-producing real estate and all the disciplines and jobs necessary to create or re-create profit from real estate.

I’m not certain but it feels like the real estate industry is different than others.  Maybe not.  If there is a difference, perhaps it’s that developed real estate – office buildings, apartments, shopping centers, manufacturing facilities, hotels – is part of our everyday existence… we live, work and play in real estate.  Could that be what attracted me to real estate more than 30 years ago - and what still attracts young people today?

When a college student asks you about the type of summer internship that might be most useful to them, share the concept of getting in on the ground floor and the value of gaining experience on the way up. Come to think of it, taking an internship, or even a part time job, where you carry bricks on a construction site could help build the foundation of a career in real estate.

Commercial real estate is a great industry.  No matter whether you have dreams of owning and operating - or investing - in real estate, you should know everything about what makes a property tick and how to make money for yourself and your investors.  Observe those that have been successful.  Learn what they did.  Talk with people in all different types of jobs connected to the property – leasing agents, building managers, the maintenance team and even the mailman – you can gain more knowledge, as well as a fresh perspective, from everyone you speak to. Learn how to manage costs, increase income, attract and retain tenants and be financially and environmentally responsible. And, when it comes to decision making, the ‘gut’ instinct (Is this a good location?  Is this a good investment?) should not be ignored.

On The Road...

Dec. 9:  Welco Real Estate Holiday Party, New York, NY

Jan. 22 - 24, 2014:  IMN (Information Management Network) Winter Forum on Opportunity and Private Fund Investing, Laguna Beach, CA

Mar. 11 - 14: MIPIM, Cannes, France

May 4 - 7:  CRE (Counselors of Real Estate) Mid-year meetings, Austin, TX

May 16:  Annual meeting of The Hoyt Fellows, North Palm Beach, FL

Rockefeller Center Tree 2014

Disclaimer 

All content in this blog is created for informational purposes only. Content, which includes all text, photos, video and graphics is not intended to malign any religion, ethnic group, club, organization, company or individual.  Steve Felix makes no representations as to the accuracy or completeness of any information on this site or other information as a result of following any featured link to or from this site.  The intention of this blog is to do no harm in regards to injury, defamation or libel. What is written or shown is not to be taken as fact or absolute.  Steve Felix will hold himself harmless for any errors or omissions in this blog’s information; including but not limited to external link information, translation or interpretation of content or incorrect grammar or punctuation.