Estate Agents Tips: How Manhattan real estate agents & building owners take advantage of human hopefulness.

Estate Agents Tip: How Manhattan real estate agents & building owners take advantage of human hopefulness.

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20 thoughts on “Estate Agents Tips: How Manhattan real estate agents & building owners take advantage of human hopefulness.

  1. There's a ton of empty space in manhattan. Landlords are still living in the 90s and they think people need brick and mortar when society doesn't need as much retail and office space. Also, city living isn't what it used to be and technology has made living in smaller towns and suburbs a lot easier and more fun(think Uber, tinder, seamless, ). So the upswing in nyc is probably going to peak soon as people wake up to this.

  2. appreciated your views Louis …great vid. one other thing worth mentioning is the conundrum for many small business owners that has lasted for many many years in NYC of renting (any) space (with the best intentions & high hopes), renovating said space/fixing up to cater/support your own particular business (time/effort/money/labor), and establishing that location for your business & clientele, growing said business ….but having a 3 to 5 year lease and suffering the inevitable "greed scenario" repeated by landlords who now seek to hold a small business owner over a barrel come time to re-new the lease (3 – 5 years flies by quite quickly). once the landlord sees you finally establish your small business, finally making it somewhat profitable with a steady customer base …come time for the renewal of the lease the landlord will most times seek to raise your rent (on commercial space they can raise it to whatever they want) …many times now pricing that small business owner out of that space. thus, small business owner must now incur immeasurable costs to move/ find another space …losing business/customers/monies used to renovate original space etc. usually the last insult to the small business owner in that 9 times out of 10, you will never get your security deposit back from landlord …that is unless you go to court and incur all the costs associated with that. speaking from much experience here. happy new year Louis 🙂

  3. And people wonder why support for socialism is on the rise. I'm not saying I support it, but what the fuck do you expect when things become so expensive that it becomes increasingly difficult for the average person to get by. And it is only going to get worse with the upcoming recession and mass technological take over when automation and A.I start wiping out entire sectors of the job market. All the major tech giants are saying that they are getting ready to replace all truck driving jobs within the next 15 years. That's already 30% of all jobs on the market and that will only be the BEGINNING.

  4. Socialism is not bad when done right. For example, government should take over some services that should not be for-profit. Because only government can absorb the cost and provide services at low cost without worrying about profits. Services like healthcare, maintaining roads and bridges, police, and firefighting should never be for-profits. We already see how for-profit model cannot work in our existing healthcare system. That is what we mean socialism. We don't mean government should do everything and leave no room for people like Louis Rossman. Someone like Louis could hire new employee without worrying about the cost of providing health benefits. Everything else should be done by enterprising individuals.

  5. Gap, Lord and Taylor, Henri Bendel and more flagship retail stores are closing on 5th Ave. You will see more of an exodus of luxury brands as they figure out its not worth it to keep paying for flagship stores and the money they spend on ridiculous rent is better spent on real marketing than tourist foot traffic. Broadway in midtown 30's is a ghost town and they are desperate for renters but the prices are stupid and no business owner in their right mind would rent there when the landlords are still trying to charge "market rates". When you have retail space you rely on foot traffic and that is not enough these days to drive sales that support NYC rents. Spending 30k a month on rent means you have to crack that 30k nut every month before you turn a penny of profit. That's not even including other outstanding overhead costs…payroll, electric, phones, insurance, etc. if you are thinking about starting a new business, good luck with that!

  6. Thanks for the video I have seen business (especially restaurants) in expensive areas and wondered how they make it. I had never considered some of the things you mentioned.

  7. Someone who owns a building is going to try and get the highest return possible; sometimes that means a short-term mentality of "let's make the rent as high as possible", and other times that means a long-term perspective of "we want high rent, but we also need to ensure we have a successful tenant." In other words, some owners will care more than others whether the business paying the rent can survive or not.

    The whole narrative about the restaurant owner, and his really bizarre decision-making process, was… idk… I don't think that's how people actually make decisions.

    And finally, you have to remember that someone who buys a property (or starts a business) during a recession will get lower rates, and will be taking higher risks. The "Crack Era" guy you refer to was taking a risk; NYC has grown weathlier, block-by-block since the 80's. This does not invalidate the underlying concept of market rent.

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