Kent Swig, child, grandchild and ex- son in law of real real estate developers, arrived in New York from San Franciso in 2005 determined to be the king of high end condos. Perfect timing.
I have it on excellent authority (a highly-placed broker with one of NYC’s premier real estate developer/brokerage firms) that all sales of their luxury projects in the city stopped cold on September 15th, the day the music died. Since then they’ve had plenty of cancellations but not a single contract.This individual has seen the writing on the (unfinished) walls and turned all the projetcs, hundreds or even thousands of units, over to his firm’s distressed property division. That can’t be good.