At the first inaugural National Basketball Association (NBPA) Real Estate Symposium June 28-30 in New York, 11 players learned investment strategies through a combination of lectures and case studies. Over two days of intensive training preceded by a welcome from NBPA Executive Director Michele Roberts, players learned about cap rates, deal life cycles, joint ventures and other concepts. Group work among the players supplemented lectures by David Eyzenberg, a principal at real estate firm Avison Young and professor in New York University’s Masters of Science in Real Estate program. READ MORE
Exceptional talents call for exceptional living. Some of New York's most unique and luxurious real estate has been scooped up by celebrities, and with the spotlight always on, their real estate investments have become examples of market conditions. While Michelle Williams's recent purchase of a 114 year old Colonial Revival in Brooklyn's Ditmas Park opened the nation's eyes to the suburban-like possibilities right outside Manhattan, Katie Holmes' $25K per month rental in Chelsea served as a reminder of the limitless prices, amenities, and possibilities New York has to offer.
However celebrities often have larger intentions than just to own with their real estate purchases. Sarah Jessica Parker and Matthew Broderick attempted to flip a 6,800 square foot Greenwich Village townhouse which they bought in 2011 and renovated, but didn't turn a profit or break even with its sale this past March.
NBA stars have joined celebrities, REITs, and international banks in making real estate investments in the city. The National Basketball Players Association organized a two-day real estate symposium at which NBA players were taught the financial and legal basics of investing with the goal of easing players into life after basketball. Luol Deng, a player for the Miami Heat and attendee of the symposium "...looked at real estate as something you could really get into if... READ MORE