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State's Image Hurting Economy, Development

TEANECK, NJ-New Jersey's top real estate executives voiced their concerns over taxes, traffic, corruption and ineffectual government at Thursday's RealShare New Jersey conference.

By Joe Cavaluzzi | Updated on October 04, 2007

TEANECK, NJ-If you’re wondering what the rest of us have in common with some of New Jersey’s top real estate executives, try the nagging frustration of snarled traffic, high taxes, government corruption and the apparent inability of Trenton to do anything about them. Those were the common threads of the Town Hall Meeting yesterday on “The State of the NJ Market” attended by more than 600 people at RealShare New Jersey 2007 in the Glenpointe Marriott.

Real Estate New Jersey editor Eric Peterson moderated the lively discussion with panelists Gil Medina, executive managing director of Cushman & Wakefield; Michael Fasano, manager of Marcus & Millichap; Ray Sohmer, senior managing director of CB Richard Ellis; Charles Klatskin, chairman of Lee & Klatskin; Michael Alfieri, president of M. Alfieri Co., and Peter Sudler, the president of Sudler Management Corp.

Ask Klatskin what’s ailing New Jersey and he’ll tell you: “Everything: Politicians, traffic, building codes. New Jersey’s reputation is terrible and getting worse every day. I have clients that are moving to Pennsylvania because they can’t get anywhere on the roads here.”

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