2003 – There is a tremendous amount to learn
2004 – The three biggest forces in NYC real estate are the Catholic Church, Columbia University and Darcy Stacom
2005 – The housing market giveth. There is apparently no stopping it when job creation and capital are plentiful.
2006 – Everyone and their cousin Larry is suddenly an expert on real estate development, especially if they have no experience with it
2007 – If a prime piece of land is undeveloped, it’s often for very good reason
2008 – The best development site on the wrong side of the street is still on the wrong side of the street
2009 – The housing market taketh. Oversupply of new product is a very bad thing, and only a bulldozer can remedy it quickly.
2010 – Casual financial underwriting is over. Detailed underwriting requires a lot of patience and hard work.
2011 – Job creation is king, and it’s incredibly slow to occur
2012 – The true real estate junkie stays involved in the business during the downturn, any way they can
2013 – Raising capital for massive projects can take up to a decade
2014 – There is always light at the end of the tunnel, and always still a tremendous amount to learn