Realty expert breaks down NYCs housing market, rezoning East Side: Headline makers are moving out

Zelnik and Co. realty expert Cory Zelnik:“Ten million square feet of vacant office space is converting to residential.There’s housing shortage, plus they’re obsolete.

Rezoning the East Side means developers can now begin to build better buildings there.“East Side you couldn’t get air and light.Think of an office building’s middle.

ALL elevators.Developers now must break up those floors.

Redesign’s in.With interior apartments it’s no air and light.

And today too much money’s being spent on migrants.“Headline makers are moving out.With vacancy rates low we’re the place to be, so people are still coming in.

But a studio apartment rental is now like $4,100 a month! Listen, real estate is cutthroat business.A commission is flexible.

The NY Supreme Court ruled you can’t control what you’re paid so there’s standards but always subject to negotiation.“I’ve been screwed.Clients go to another broker although you’ve been working with them.

Ugly business.Cutthroat.

A short pencil beats a long memory.So we get everything in writing.

Doesn’t mean people won’t bust your chops.Like, take your client to a space.

Then he tells his cousin who’s in real estate, ‘I just saw a great space.Let’s make an offer.’ That’s a mechanism for screwing you.“And then there’s the amenities.

Areas they want for scooters, pingpong tables, saunas, gyms.Who knows what the world wants to do behind closed doors.“There’s been a ton of move-outs but now there’s a backfill.

A shortage.The world wants to be here.”NOV.

7 another lawsuit related to Puff Daddy was filed in US District Court, Southern District of New York.Seven people, including lawyer Gloria Allred, accused of “Defamation, Emotional Distress, Negligence, Vexatious Litigation, Abuse of Process and Malicious Persecution.” Suing these persons is Diddy’s former bodyguard Joseph Sherman.

He says they said — without proof — that he “viciously raped Thalia Grav...