How to best stunt on others in real estate?

How do New Yorkers stunt on others in the commercial real estate biz?  

In Texas, you get a king ranch.  Or if you have little kids I guess at least a yukon/tahoe.  You wear cowboy boots.  Even a billionaire can drive a pickup if it's nice enough (and yes they can get expensive).

But that's in the south.  How does Michael Stern let people know he's the boss of the site?

Comments (34)

 
  • Analyst 2 in RE - Res
Dec 22, 2020 - 8:25pm

Based on your profile I thought you worked in NYC, but if you don't, wear a pinstripe suit, slick back hair gel, get chauffeured around in an oversized SUV.

 
Dec 23, 2020 - 2:07pm

Co-op in The Dakota or a named building on the UES. It shows more than just money, since co-op boards have to approve you, you can't just buy your way in. 

 
Dec 23, 2020 - 11:10pm

kruzon

Bringing their kids into the business (the more, the better). Private club membership. Taking BLADE instead of Uber to JFK.

Haha THIS post should win the thread.  I gotta experience blade some day

 
Dec 27, 2020 - 1:56am

I heard Simon Ziff has 185 K-1's. That's kind of a major flex

I had a flair for languages. But I soon discovered that what talks best is dollars, dinars, drachmas, rubles, rupees and pounds fucking sterling.
  • 1
 
Dec 28, 2020 - 12:21am

Lol I presume this is sarcasm? 

I had a flair for languages. But I soon discovered that what talks best is dollars, dinars, drachmas, rubles, rupees and pounds fucking sterling.
 
Jan 6, 2021 - 11:40am

He's an investor in a couple of my deals ... his position is small, like $25k. I know he has several other positions like that as well. Having 185 K1s isn't that impressive. I have over 20 K1s myself and I'm nothing. Having that many K1s is a burden... sometimes I don't get final K1s till October or November and can't finish my taxes till nearly end of the year.

 
Dec 28, 2020 - 12:51am

Stunting is easy: Raise a family on north shore of Long Island, have your kids syndicate "value add" deals in the outer boroughs and watch the money pile up. 

The above isn't my life, but I told my dad one thing about NYC CRE: "First you get the watch, then you get the car, then you get the girl." His response: "You are a f***** idiot." This is sarcasm and he knows it.  

For me, stunting on others in NYC means leaving your clients in a better place and having more fun than the next guy with money coming last. Sounds cheesy but looking forward to more of that in 2021. 

 
Jan 4, 2021 - 8:05pm

I knew of a guy who gifted his granddaughter a CVS ground-lease for her 14th birthday. That's a flex if I ever saw one. 

I had a flair for languages. But I soon discovered that what talks best is dollars, dinars, drachmas, rubles, rupees and pounds fucking sterling.
  • 3
 
Jan 18, 2021 - 7:04pm

Merchant_of_Debt

I knew of a guy who gifted his granddaughter a CVS ground-lease for her 14th birthday. That's a flex if I ever saw one. 

Did she email him back a heavily redlined version of the GLA and tell him to "find attached"? That would really be a flex

 
Jan 4, 2021 - 8:08pm

Oh, you can get one of those plaques to put on a building with your (company) name on it out front. It seems like a lot of NYC owners do this. 

I had a flair for languages. But I soon discovered that what talks best is dollars, dinars, drachmas, rubles, rupees and pounds fucking sterling.
  • 2
 
Jan 13, 2021 - 1:17pm

Building a class "A" project that will definitely lose money but will - Change the skyline or redefine the city (Or some other bullshit) then naming it after yourself in some way shape or form.

 
Jan 18, 2021 - 11:40pm

Buying a Vegas casino that isn't profitable but you just feel like doing it for fun.

Array

  • 1
 
Jan 21, 2021 - 1:07pm

God, owning a country club would be the fucking worst.  One pearl of wisdom I got from my grandad was that you never want to be chairman of the board of a country club or a private school, dealing with all of the egos is just a total pain in the neck. 

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