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Maximizing Profits When Redeveloping Buildings

Real estate experts share tips on getting the highest return on investment when repurposing old buildings.

Anchin ROI construction panel From left: Ken Colao, Steven Heiderstadt, Kevin Hoo, Jeff Hendler, Jim Hedden, John Gilbert

NEW YORK CITY—How do developers decide to buy and repurpose a building or demolish it and build from the ground up? Moderator Aaron Dussair, COO of Pembrooke & Ives, asked this question to speakers on the return on investment (ROI) redevelopment panel at Anchin’s Construction and Development Forum, earlier this month.

Jack and Lewis Rudin did everything on instinct, said John Gilbert, EVP and COO of Rudin Management. “Jack Rudin used to say you have more nerve endings in your stomach than you do in your brain. So, if you feel good about a deal and it feels right from an instinctual standpoint, do the deal. If you don’t, walk,” said Gilbert.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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