Doctor, you're killing me!I was rushed to the hospital after being pummeled by a car while jogging last year. The pain was overwhelming. The emergency room doctor, as he was injecting me with morphine, asked me what I did for a living. I gritted my teeth and said, "I am a condominium developer." The doctor, still holding the needle, responded, "Really, my brother-in-law and I are going into that." I grimaced grim·ace n. A sharp contortion of the face expressive of pain, contempt, or disgust. intr.v. grim·aced, grim·ac·ing, grim·ac·es To make a sharp contortion of the face. . He asked where it hurt and I spit out Verb 1. spit out - spit up in an explosive manner splutter, sputter cough out, cough up, expectorate, spit up, spit out - discharge (phlegm or sputum) from the lungs and out of the mouth 2. , "Doctor, you're killing me!" Like the nation, the New York metropolitan area New York–Northern New Jersey–Long Island is the most populous metropolitan area in the United States and the third most populous in the world, after Tokyo and Mexico City. has undergone an unprecedented period of residential development of new condominium and mixed-use projects these past five years. Financial institutions flush with cash, have been eager to fund just about any project, and a wide variety of developers, some new to real estate like my emergency room doctor, have launched themselves into the business in a significant way. Thinly capitalized, lacking experience, unable to change direction, some developers are hard-pressed to meet the demands and expectations of a more sophisticated buyer-centric market. Equally daunting daunt tr.v. daunt·ed, daunt·ing, daunts To abate the courage of; discourage. See Synonyms at dismay. [Middle English daunten, from Old French danter, from Latin to them is the exploding inventory of new units, and the pipeline of future product to follow. As a result, equity investors, mezzanine players, and even acquisition and construction lenders will have to make decisions to protect their positions, which may include replacing their developers, repositioning assets to make them more competitive, or even deconstructing poorly performing condominiums. Solutions are not easy to implement, but delaying or not making a decision to formulate a "Plan B" is costlier still. Being hit by a car was painful, but at least I had morphine to deaden dead·en v. dead·ened, dead·en·ing, dead·ens v.tr. 1. To render less intense, sensitive, or vigorous: the pain and knowledgeable experts to guide my recovery. Investors need to inject their own medicine in failing deals, and bringing in the right team to guide assets to success is just what the doctor ordered. By Norman Radow President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. The RADCO RADCO Rappahannock Area Development Commission Companies |
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