Snowball buys/enhances tristate CRE properties for its investors, tenants & local communities. +250M AUM. World Traveler & Dad. Ex CBRE & NYCEDC #retwit
Brooklyn, NY
Joined March 2021
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@Snowball_Dev sold 325 Midland in Garfield NJ last week. Exiting an asset is bittersweet, especially when it was the 1st deal that kick-started Snowball as a business. Fortunately, we are midway thru a major renovation for the user-buyer, so withdrawal will be slow. #retwit 👇
I cannot vote nor donate as a foreigner. Quite liberating, but i still cannot block unwanted campaign fundraising text messages since the previous owners of my US cellphone were registered dems. FML.
Why are we being firebombed with @SpaceXStarlink ads these days? Did they commit some form of self-sacrificial suicide policy error or something in Ukraine and loads of subscribers are dropping them like unidentified Russian bombs or something.
Recently received a list of every 50,000 SF availability in Greater Hartford. The sample included 32 total options totaling 4.9M SF or a 3.7% vacancy rate on a 135M inventory and I noted a couple interesting findings:
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Local tenants are facing competition with in-migrating tenants to Central #Connecticut for cost mitigation reasons. We increasingly like the dataset for larger warehouses, are moving up our rental growth forecasts and Snowball is in contract to acquire another $50M by Q1 2027. 👇
If you want to outperform as a real estate sponsor, you need to consistently put together solid deals & achieve incremental growth.
Ignore growth capital or lofty AUM targets. You’ll still overestimate your success in 1 year, but underestimate total success over a decade.
Found a Texas longhorns resto-bar spot down by the Gowanus in Brooklyn. Not what you’d expect in this edgy enclave, but Brooklyn welcomes all.
Day is starting out great...went online to pay a parking ticket and it looks like the next rental car owner paid mine and there larger $115 ticket is still outstanding.
I am sure there is a parable here to taxation and capital gains deferral somewhere.
The California billionaire tax is headed to vote. Due to its popularity, my personal view is that any wealth tax should be at federal level to avoid the obvious tax dodging doomsday scenarios. But I also believe a general sales tax would be better policy. apple.news/A25qiqcQeT5mA2RRJ…
If the 5 year trend continues, we can all reset exit cap rates back to where they were a few months ago and pretend we are good at macro forecasting again
CRE institutional investors are more reactionary than rational. Partly its a top down issue where you don’t rock the boat.
Seeking $13M to 15M of JV equity for 3 asset industrial portfolio in Central CT. Closing will be in Q1 2027. Deal is a mark to market play with strong established tenants and an average net rent of $5 psf. DM me if interested.
Who is heading to the @Bisnow NE Logistics & Manufacturing conference today?
Why do some homeowners believe that don’t use public resources? The more urbanized an area you own in, the greater the cost of delivering services.
For one, your property is a legal construct. Property law is the basis of almost all law. And it takes a system to protect it.
