Seminar to Explore How to Succeed in Real Estate

The rapidly changing landscape in the outer Boroughs of NYC has created amazing opportunities in real estate. On November 6, men and women of the Crown Heights community will gather for a special evening event exploring success in real estate, a project of Crown Heights Young Entrepreneurs.

Opening remarks will be given by David Junik of Pinnacle Realty. “The rapidly changing landscape in the outer Boroughs of NYC has created amazing opportunities in commercial real estate,” Junik says. “Enthusiastic self-starters from a variety of backgrounds were able to build successful careers in real estate, and I want to share that story with members of the community.”

Junik plans on exploring the theme of setting and achieving long-term goals, reputation building, the benefits of working with an established firm over starting from scratch, and the personal qualities needed for success.

Following Junik’s address, breakaway sessions with successful Crown Heights realtors will be held, discussing the knowledge needed to succeed in rentals, residential units, investment sales and commercial sales.

Tables:

  • Rentals: Mr. Michael Sorrentino and Zev Goldin, City Habitat
  • Residential and Development Sales: Mr. J.J. Katz, Owner Heights Properties
  • Investment Sales: Mr. Lipa Lieberman, Senior Director Eastern Consolidated
  • Commercial Sales and Residential Development: Mr. David Junik, Owner Pinnacle Realty of New York, LLC
  • Management: Mr. Chanan Feldman, Parkway Realty
  • Mortgages: Mr. Shimon Rosenberg and Binyomin Levin

“We’re very excited about the all-star group of speakers slated to address the event,” says Rabbi Yehoshua Werde, Founding Director of CHYE. “We’re happy to bring knowledgeable professionals in the field to the members of our community.”

For event details, visit: http://chye.info/event_directory.

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11 Comments

  • I'm all for financial success, but not on the backs of our own

    The success of some, in real estate — whether through flipping properties, or through tearing down dwellings and rebuilding larger ones there, or just through being a real estate agent — has been a big factor in the cost of housing going way, way sky-high here in Crown Heights.

    Young couples, older couples, families, and singles literally find themselves in deplorable places (not just small or old, but unliveable due to sewage floods, moldy basements, frequent electricity overloads, etc.) or in horrific debt just trying to live in a non-luxury shoebox-sized home.

    Every time a property changes hands, the price goes up. And whoever paid that higher price feels entitled to charge higher and higher rents (can’t completely blame them; they have mortgages and renovation bills to pay, too).

    Something needs to be done to address this, not just perpetuating the problems by “discussing the knowledge needed to succeed in rentals, residential units, investment sales and commercial sales.”

    This young entrepreneurs group is a great project. Now it’s time to use your clout, as an organization, to get more real estate people to make sure that our own residents do not find themselves priced out of living in their own hometowns!

  • The Rents are Too High!

    I am in complete agreement with comment number one above. The only people who can afford to rent an apt here are the non-Anash professionals that are moving in faster than we are. The landlords here are in the process of giving the Rebbe’s Schuna away to those people for their fat pocketbook. A gentleman from France told me that the rents here are higher than in Paris with a view of the Eiffel Tower!

  • Nice looking event

    This event will be a good place to network. The speeches can be of value, but networking with these successful men or other guys in real-estate can be valuable.

  • It's Capitalism bro

    We live in a free market system that encourages people to go out and make money for themselves. It is the job of Individuals to help other individuals. Enough of this mentality that says organizations should help individuals. That takes the onus off of the individual and places it on others. This type of thinking puts more power into the hands of organizations and government and and is a form of socialism.

    • You're a bit mixed-up

      “Organizations and governments” are not the same thing!

      In a free-market system, governments should not have much if any power over the marketplace.

      BUT, a privately-formed organization, like the one sponsoring this event, is NOT “government” — quite the opposite!

      When we have government claiming to be “solving” all of society’s ills — but actually messing things up even more, all the while grabbing power and control — THAT’S socialism.

      But in a free-market system, we rely on PRIVATELY-FUNDED organizations, religious charities, and the like to step in VOLUNTARILY, and do what they can to help local people — something they can do far better than government can, since it’s all local that way.

      CHYE is not a “socialist” or “government” entity! It’s just the kind of group that can not only help its members individually, but can help the community as a whole. And it should do BOTH, not just the former.

  • Resident

    PERHAPS ALL THESE GREAT MINDS CAN COME THINK OF A WAY TO HJELP OUR OWN . JUST AS NUMBER 1 SUGGESTED. NOT CHANGE THE LANDSCAPE OF THE NEIGHBORHOOD FOR HIPSTERS.!!!! MY FRIENDS, WAKE UP!!!! ITS GETTING HARDER FOR OUR OWN CHILDREN AND FAMILIES. WE NEED TO TAKE INITIATIVE NOW . WE CAN NOT AFFORD TO ”SLEEP” ANY MORE.

  • I wish to afford nice ( not luxury )3 bedroom rent

    But I can’t …do something – low rent or low tuition – guys or tell me how to make 10,000$ income after tax – and I will pay my rent and tuition full – no complains… I’m stuck I’m not a laywer , doctor or succesful businessmen – help me to be one pls !!!
    I’m scary if I can’t afford the rent how I will afford the rent of my kids in the future ?

  • Blame game

    Blaming the realtors for rising prices is the definition of shooting the messenger.

    These are the reasons for the rising cost of property/rentals in Crown Heights:

    1. Supply and demand. Lubavitchers have long refused to buy or rent anywhere past the imaginary “borders” of Crown Heights, and as a result, Crown Heights is basically Maple St to Lincoln Pl to the North and South, and Utica to Nostrand to the East and West. Only in the last five years or so have people begun to realize that they can actually live past these imaginary borders, but it is too-little, too-late. Now you have B”H a growing Lubavitch community locked into a tiny geographical space. This is a Manhattan-type situation, where there is minimal space and crazy demand.

    There are lots of large families living in apartment buildings that had the opportunity to buy homes years ago on the cheap, but did not do so because rent was cheap, and they didn’t want the hassle. Had they bought when they had the chance, there would be a hundred more apartments available to rent for today’s yungerleit, and CH would have been greatly expanded.

    2. The Brooklyn boom. In case you have been living under a rock, Brooklyn has become a new cultural epicenter. Brooklyn is now the go-to zone for yuppies and hipsters, as well as wealthy hedge-fund and trust fund managers. This automatically changes the Brooklyn landscape, and is driving up real estate to Manhattan prices. Crown Heights, being right near the subway, has huge value.

    • You're a bit mixed-up, too

      Your point #2 (“The Brooklyn Boom”) contradicts your point #1 (chastizing Crown Heightsers for being reluctant to live past the streets that you mention).

      I live in the “past Maple St.” area, and the houses are not really less expensive here; they’re just smaller and plainer (for the most part), so they go for a bit less money than the grand brownstones up the hill.

      But if someone wants that same space and/or grandeur as “on the hill,” they end up paying for renovations or construction (additions onto an existing house, or construction of a new one after tearing down an old one), and that about evens out the prices.

      So your argument about people not wanting to live beyond certain borders doesn’t really hold water, since that’s not really the way to save much money, if any.

      Also, many of the young couples of the past, who you mention, were hoping for shlichus and didn’t really have the money to buy when they might then have to turn around and try to sell, in a hurry, in an uncertain (then) market: Remember the bursting of the housing bubble not so many years ago? It took a while for prices to later go up after that, even though it’s easy to forget that time not so long ago.

    • You misunderstood

      My point #2 does not contradict point #1 at all, unless you misunderstood the point.

      Point #2 is stating that Brooklyn prices have increased in general, which is causing the market within Crown Heights to increase as well.

      Now, if people would have moved beyond the perceived “borders” of Crown Heights WHEN HOUSING WAS DIRT CHEAP, there would be a lot more Jewish blocks, both near and far for young frum families to buy on. (whichever way you want to slice it, the homes there may be smaller, but they are still more AFFORDABLE, even after renovations.)

      The fact remains that there is huge hesitation among young families to live anywhere outside the perceived borders of Crown Heights. This is largely in part to the fact that there are less Jews living there. (which results in less Shuls and less groceries there as well – or none at all).

      Your point about families not buying because they thought they were going on Shlichus is utter nonsense. I know many of these families and they never, ever had any plans of moving. They got comfortable paying $400/month for a large 3BR apartment, and they didn’t want to get into the hassle of owning a home, despite the fact that a home could have been had WITHIN Crown Heights “proper” for under $200,000.