119: E 73rd Street Redevelopment with Eric Goodman

Big Mike Fund Podcast
Big Mike Fund Podcast
119: E 73rd Street Redevelopment with Eric Goodman
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New York offers a timeless walk-through of yesteryear. Who would not want to live in historic townhouses in the 21st century? Best of both worlds, right? In this episode, Eric Goodman shares the shift in the market where the largest purchase buyers are American buyers and not bought by foreign money. Post-Covid, the market takes into consideration of privacy, safety, and security which are mostly offered in newly renovated townhouses like the 14-Million-dollar project of Eric’s company. The premium is paid from the townhouse market wherein a very large number of buyers seen are willing to pay $50-70 million price targets.

More of these renovation projects and townhouse market opportunities in this episode, so better listen till the end!

HIGHLIGHTS OF THE EPISODE

01:00 – Eric’s background

05:21 – Transforming Comparable Assets

06:40 – Single-family to Multifamily Real Estate

11:57 – Redevelopment path: Cost, Components, Equity Investment

14:46 – Pre-Covid to Post-Covid environment: Privacy, Safety, and Security

15:55 – First newly renovated double wide assets

18:29 – 14-Million-dollar renovation project

19:00 – Importance of first-class development team

21:02 – Dealing with LPC

26:04 – Shifting Market in New York

28:34 – Coming back to Basis

Know what’s in today in the townhouse market of New York and learn more about equity investment! Join us in this episode and be sure to check out www.tempofunding.com.

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Phone: (516) 308-0624

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