Malkin's On the Lookout

NEW YORK CITY-Where are the real buying opportunities in the current market? Ask a man with a very long history of conservative investment. Peter Malkin, chairman of Malkin Properties, told a National Realty Club audience Monday that he’s seen “very few properties come up for sale” lately, and they’re being bought for “very high prices.” When problem loans that haven’t been recognized eventually come to market, we may have more of a measure of what properties are currently worth. Meanwhile, Malkin said his company will be looking to make acquisitions along with originating mezzanine debt. These assets don’t necessarily have to be located in New York City and they can run the gamut of property sectors—except for multifamily. Too difficult. “It’s our belief that anybody who makes money on residential property in New York is entitled to it,” he quipped.