Resnick politely says Barnett is nuts

What do you see ahead for development in New York? BR: The only vacant land around is the Far West Side, but who knows in whose lifetime that’s going to be built? Gary Barnett [president of Extell Development Corporation] has about eight jobs going. He must have the strongest stomach in the world. I am not being negative or nasty; I give him credit for having that much energy. In the ’80s, I did... [more]

What do you see ahead for development in New York? BR: The only vacant land around is the Far West Side, but who knows in whose lifetime that’s going to be built? Gary Barnett [president of Extell Development Corporation] has about eight jobs going. He must have the strongest stomach in the world. I am not being negative or nasty; I give him credit for having that much energy. In the ’80s, I did three jobs at once—never again! We could be as busy as we want to be, but the deals just don’t make sense as far as we’re concerned. I haven’t seen prices come down to a level that I think is economical. And if I can’t add value, there’s no sense in buying. But we’re always looking at deals, good times and bad. I’d like it to be a family business for a long, long time. http://www.archpaper.com/e-board_rev.asp?News_ID=4788 [less]