Real Estate REality Check | Real Estate & Business Career Success Education and Training - Episode 043: Simon Ziff

Episode 043: Simon Ziff

09/12/19 • 35 min

Real Estate REality Check | Real Estate & Business Career Success Education and Training

Introduction:

Today we have with us Simon Ziff, the always effervescent president of the Ackman-Ziff Real Estate Group, one of the industry’s preeminent boutique real estate capital advisory firms, with offices in New York as well as Miami, Los Angeles and Boston. In addition to being a gem of a person, a master of his real estate domain, a truly obsessed Penn State football fan and a man who may cry if one mentions the movie Field of Dreams in his presence, Simon has been described as “a hillbilly at heart,” and by himself as a fashion trendsetter as he proudly has taken credit for the suit-no-tie look many of us have made part of our workplace wardrobe.

Episode Notes:

At 2:08, Simon Ziff touches upon living life in a positive and healthy way, and the impact music has had on his life. At 4:32, Simon shares that trust is at the center of Ackman-Ziff’s culture, and the value in a strong and talented team. At 7:21, Ziff discusses risk and return as the basis of analysis, losing business to competition, and being reputationally focused. At 9:24, he talks about playing the long game, developing relationships, and the Ackman-Ziff team. At 10:12, Simon advises that he is more comfortable investing in debt versus that of equity in this current cycle, and notes Ackman-Ziff being agnostic to the asset classes they work on. At 13:55, Ziff describes what Ackman-Ziff looks for in job candidates. At 17:19, he points out that he is proud of the women working for, but not satisfied with the percentage of women working, at Ackman-Ziff. At 19:40, Simon touches upon whether an “impatiencence” exists amongst the younger generation today versus that of the past. At 20:48, Ziff gives his take on whether it is safe to invest in NYC today. At 21:42, he dishes on his lists for everything, as well as organization and planning. At 23:32, Simon speaks on “building it and they will come.” At 25:36, Ziff notes his preference to hit “singles and doubles” versus home runs. At 28:20, he touches upon working hard and surrounding yourself with talent. At 29:38, Simon dives into learning, improving and growing everyday. At 31:14, Ziff takes us back in time to growing up in the 1970’s in a small town, and attending Penn State in the 1980’s. At 33:20, Simon Ziff closes out the podcast with the message “it’s here and now.”

Introduction:

Episode Notes:

Previous Episode

Episode 042: Robert Sedaghatpour

Introduction:

Today we have with us Robert Sedaghatpour, the principal and managing member of STRATCO Property Group, who among the vast array of real estate talents and skill sets he possesses, and services his company provides to the real estate industry, is someone who seemingly has made the classic song “Why Can’t We Be Friends?” his business mantra. This is evidenced by STRATCO functioning as an intermediary between property owners and tenants by re-creating a community established on harmony, respect, transparency and trust when it comes to navigating the dynamics involved in managing a building, rent regulatory laws and bridging the gap of opposing goals between a landlord and tenant.

Episode Notes:

At 2:35, Robert Sedaghatpour discusses the sticker shock effect of the Housing Stability and Tenant Protection Act of 2019 (the “Act”), and accepting this black swan event as the new reality. At 3:46, Robert advises that one should not focus on this act being reversed. At 4:57, Sedaghatpour describes the impact of the new act on owners in the multifamily sector. At 7:34, he dives into NYC’s economy, given that NYC’s budget was drafted before the Act was enacted. At 9:41, Robert mentions that the Act has been brewing for years, and talks about “tenant Tuesdays” in Albany. At 14:50, Sedaghatpour touches upon the unforeseen risks to those owners who don’t have a business plan to meaningfully raise their rents. At 17:20, he touches upon tenant collaboration and creating unity between landlords and tenants. At 19:26, Robert plays a word association game with Larry Haber. At 25:09, Sedaghatpour provides his take on whether the Act is everlastingly sustainable. At 26:12, he suggests that there may be a flood of deals coming back into the market with major discounts. At 27:16, Robert talks about market timing, diligence and underwriting. At 29:12, Sedaghatpour shares how STRATCO adds value in a deal with its understanding of the history of business culture, and its diligence on regulatory history and lease files. At 30:07, he dishes on what truly gets his motor revving in business or on a deal. At 32:09, Robert Sedaghatpour closes out the podcast with a message on change creating opportunities.

Next Episode

Episode 044: Nancy Bass Wyden

Introduction:

I want to start out a bit differently today with a quote by the great visionary, activist, poet and author, namely Maya Angelou, who once said “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” With that as the backdrop my friends, we have with us Nancy Bass Wyden - who in addition to being both one of my favorites as both a person and client - is the 3rd generation owner of the legendary Strand Book Store on 12th Street and Broadway in New York City, which has been in existence since 1927. When I walk into the Strand, it makes me feel as if I am visiting a dear, warm and fuzzy, but still totally cool and vibrant, childhood friend ... and I attribute that feeling to both Nancy as well as her grandfather Ben, and her father Fred. The sense of community one gets from being at the Strand is something that, simply stated, is one that should be bottled and marketed to the masses, because if it was, we would all be better off for it.

Episode Notes:

At 2:56, Nancy Bass Wyden describes what being “lost in the stacks” at the Strand Book Store means to her. At 4:23, Nancy highlights her family being in the book business for 92 years, and discusses old, rare, and new books. At 6:04, Bass Wyden informs that she is in the process of writing a memoir – stay tuned! At 6:33, she makes note of how short life is, and shares that she is one who wakes up in the morning with an optimistic and “kick ass” mindset. At 7:09, Nancy speaks about the accumulation of knowledge and her ability in noticing patterns in businesses and people. At 8:24, Bass Wyden touches upon open mindedness and always keeping your curiosity up. At 9:58, she dives into the government’s overreach in landmarking the building that the Strand is located. At 13:22, Nancy points out the reality of the Strand operating on thin margins in a fragile environment, as well as the extra operational costs due to the Strand’s building being landmarked. At 15:23, Bass Wyden discusses her grandfather, as well as her father saving up to buy the building. At 17:40, Nancy mentions her responsibility to the Strand’s employees, and touches upon the retail landscape and Amazon. At 21:51, Nancy talks about the Strand’s knowledgeable employees and their customer’s insatiable curiosity. At 23:29, Bass Wyden discusses forming long term relationships with her tenants. At 24:47, she shares that as she has gotten older, she has become a bit more anti-establishment. At 28:21, Nancy dishes on how the Strand has changed the culture of book stores by hiring “extroverts.” At 29:11, Bass Wyden informs us about the Strand’s 400 annual events schedule. At 30:09, she speaks about the impact her father Fred has had on her. At 31:40, Nancy talks about doing the right thing and your reputation. At 32:38, Bass Wyden points out her love for nature, sea air, diving into a good read, and the opportunity to write and ponder. At 33:37, Nancy Bass Wyden closes out the podcast with a message on keeping with the family mission of putting good books in the hands of young and old readers.