|
Patience triumphs in boroughs
Wednesday, March 25, 1992
Excerpted from the Real
Estate
Weekly
Developer Joshua Muss has often said patience and time are the common
denominators for real estate development in the boroughs of New York City.
And, in the past few months, he has proved himself right again...
Muss said his family has always developed in the boroughs for a
combination of
reasons, including; the lower cost of land, a comparative lack of ego, the
sense of challenge, and because they're good at it.
"The bad news is it takes 10 or 12 years to build something and that's
sick!" he said, "But when you get something built you feel good about
it."
In all, Muss said, the firm is working on four or five major projects that
represent 100 years in planning and approvals.
There's an extraordinary lead time because of uncertainty," he said,
"You just don't know when you're going to build."
Muss hopes...his plans in Flushing (will be able) to get off the ground.
"Flushing needs to be reexamined because it is such an important space,"
he said. "There's so much available infrastructure only used on Sunday or
Friday nights when the mets play."
Muss' office is located in Forest Hills Tower which they built in 1980
relatively easoily, he said...
There is , Muss believes, an unserved need for first-class office space in
the boroughs, which, he said, are all major cities in themselves.
Muss also built Flushing Plaza, a 250,000-square-foot building in Queens
that they plan to expand because of demand. Tenants include New York
Life, Prudential Bache, BWIA, and Medtronics...
Despite all the frustrations, Muss said he believes in New York City, and
his company will continue to be a part of its growth--in the boroughs.
"Things that happen, do so because there's a few of us who don't give
up...There's a certain constitution that you have to have to see this
through...and luck."
Return to In the News
|