Dynasty daughters put names firmly on from door.
Douglas Elliman retail chair Faith Hope Consolo moderated the event, hosted by New York Commercial Real Estate Women (NY-CREW) and held in the McGraw-Hill Building.
The three women, all of whom serve in leadership roles in their respective companies, shaved their thoughts on the current state of the market, what they'd be doing if not in real estate, and the misperceptions people have of them. "We've had an extraordinary year," said Rose, who is co-president of Rose Associates. "We've already surpassed the height of the market in 2007. Rents for new projects are skyrocketing. New York is really flourishing."
Rudin Earls, vice president at Rudin Management Company, agreed that the residential market is thriving. She is preparing her family's new condo building, Greenwich Lane, part of the old St. Vincent's hospital building, to begin sales.
Part of a much younger generation, the panelists acknowledged how the industry has changed over the years.
"We have some generational issues," said Goodstein Rossi, executive director/ partner at the Goodstein Organization. "Our business has changed dramatically."
Goodstein Rossi previously ran the real estate brokerage branch of the company, but her sister now handles all of the rental units the Goodstein Organization owns.
"Being a third generation person, you have to be dynamic and roll with the way things happen," she said. "Each of us takes on our own role. I don't think anyone else even thought of this role. Protecting the assets and wealth is what I focus on."
Goodstein Rossi's parents were influential in guiding her into the real estate world. "My father is my role model," she said. "I can't keep up with him, and he's 71 years old."
"My mother told me when I was young; You have it all. You're beautiful and you're smart and people will hate you for it. Not everyone will be a friend."
Goodstein Rossi got her start in the family business at 16 and had her real estate license by age 18. At 25, when she started the company's real estate brokerage in Manhattan, Goodstein Rossi started from scratch--cracking open a directory of brokers and cold calling. Rose Associates is an 88-year-old firm, founded by Amy Rose's grandfather and uncle. "There until I showed up," she said. "People always think you have it easy because it's a family business. That's always with you."
For anyone who is part of a family business, carrying the torch is something not to be taken lightly.
"You think a lot about the legacy you are a part of," said Rose. "My father told me, 'Remember, your name is on the door.'"
Rose credited her self-confidence and family support for staying positive in the light of perceived nepotism. "I was aware people would have that view. I don't worry about what people think. I wouldn't get the business if people didn't think I knew what I was doing."
Rudin Earls, who initially studied theater at New York University, said she was "overwhelmed" by the support she received when she decided to join the family business.
"It was mind-blowing," she said. "It made me feel better than when I was studying theater."
"I learned from my dad to make smart choices but also follow to your dreams. Don't give up--there can be moments where it makes sense to work and other times it's better to walk away."
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|Comment:||Dynasty daughters put names firmly on from door.|
|Publication:||Real Estate Weekly|
|Date:||Oct 16, 2013|
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