We are back! “Said Intown Chabad Rabbi Eliyahu Shusterman, welcoming over 100 people to the Jewish Business Network’s Real Estate Symposium” State of the World Post-Coronavirus Market “.
After networking outside of central Chabad, just steps away from the current Beltline Atlanta, participants filled the room with open ears to draw on acres of wisdom handed out by a diverse group: sponsor David Weinstein of David E. Weinstein’s Law Office; Moderator A.J. Robinson, President of Central Atlanta Progress; Norman Radow, Founder and CEO of RADCO Companies; Nathan Kaplan, Partner, Kaplan Residential; and Nicholas Emerman, director of Broadland Homes.
Launching the program, Shusterman offered L’Chayim a way out of COVID. “We are back with people! COVID changed us where we had to balance our journey every day. ” He noted that the Torah passage this week was the longest, in which Mathos and Masei came into conflict: strength and flexibility, which is important.
Shusterman announced the upcoming National Jewish Retreat on August 10-15 at Stone Mountain’s Evergreen Marriott Conference Resort, featuring high-profile speakers and top kosher restaurants.
Shusterman caused a strong public reaction when he spoke about his closeness and achievements in the real estate industry. “If I hadn’t been a rabbi, I wouldn’t have done so badly with real estate by negotiating four houses and a $ 9 million facility on the White Line!” Robinson later agreed. The rabbi introduced Weinstein, whom he recently married, and who provided free legal services to the culmination of the White Line construction.
Before introducing the panel, Weinstein talked about high demand and changing supply in the real estate market. Robinson has represented the importance of downtown Atlanta on projects such as The Gulch and The Stitch, and his experience at Portman Holdings, Ltd. Radow, a New York University-educated lawyer, took to the real estate scene with the Four Seasons Hotel and 150 beyond. projects. Emerman’s single-family homes are renowned for their design and quality, and Kaplan is a third-generation real estate executive whose generation of the Centennial Park project is now recovering to 50% occupancy after COVID closed a jobsite.
Robinson ranked winners after COVID. “Warehouses, industrial and single-family, are out of schedule compared to the more affected hotels and office markets. Optimistic compared to other cycles, they may be marking time and yet returning without financial ruin. “
Radow said that RADCO is a “promising” company with 3,005 condominium units that are “now optimistic about apartment buildings.” He listed six market factors:
- Pandemic: nothing like this has happened in 102 years
- Global impact on the economy
- Unemployment 14-15 percent
- An unprecedented incentive
- Lower interest rates
- The moratorium on evictions and related legal issues, about which Radov said: “There is no point in this; homeowners should view this as a ‘tax’ that we have to pay to cover the loss. “
Kaplan noted that with the rise in prices, those struggling to afford a home will return to renting apartments. He talked about markets like Charlotte and Avondale Estates. “There is so much capital out there, especially from Florida; we started a pipeline fund. We are running a project for over 55 people in Dallas, Georgia, with no seniors slopes. [mobility]…
“There are some negative factors such as rising sawnwood prices and material shortages that could bring projects to a standstill.” Radow also talked about other organic rent growth opportunities: “Think of our project in Henry County, where rents are higher than Midtown.”
The event ended with a question from the audience about the “elephant in the closet,” Atlanta’s fearsome criminal reputation. Robinson took it upon himself: “This fight has always been more visible in the news. We emerged from the 1980 child murder and the demise of the Underground Atlanta. Atlanta has a deep culture of blacks and whites that is rooted in civic ties. [Crime] also takes place in the suburbs, like the recent murder of professional golfer Kennesaw. All eyes are on the next mayor, with crime and public safety at the top. Our city government officials showed disdain. “
However, Robinson is optimistic. “They used to come here for work. It is now the lifestyle and density of apartment buildings and infrastructure that allows you to live, work, play, and even walk in areas such as Beltline, as well as the densely populated areas of Cumberland, Perimeter and Gwinnett. “
Radov concluded: “Remember that big money comes at the end of the cycle.”