Looking for the next big thing

By Dan Orlando

During the Abundance Panel at today’s Women’s Forum, the city’s top female real estate talent will discuss the surging New York market and the challenges they faced on the road to becoming major players during this golden age in the sector.

Real Estate Weekly caught up with two of the panelists ahead of the event, and got a small preview of what will be discussed.

“I am very excited about the Upper East Side – east of Third avenue – Yorkville area,” said Juliet Clapp, managing director at Town Residential. “There is a huge value in this area of the city. There are also some great developments coming up.”

Jennifer Steig, owner of Cheshire Group, has her sights set west of the Hudson and plans to get more involved with Jersey City and the Hoboken areas in the near future.

Juliet Clapp

Juliet Clapp

As for finding an area of the five boroughs with untapped potential, Steig says pinpointing quality ground-level investments is “challenging,” but do-able if you act fast.

“I already feel like I’m not sure how much more expansion there can be in Brooklyn (and areas like it). We haven’t discovered the next big thing yet. I wish I did, I haven’t,” she said.

“Now we look at things in Brooklyn and they’re just priced with the expectation that growth is going to continue,” she added. “If you didn’t buy there five years ago, I don’t know what the upside is”

Jennifer Steig

Jennifer Steig

Steig said she loves the challenges that her career presents her with and could not see herself going down a different path.

“If I was going to walk away from real estate, it would have actually been when I graduated from business school,” she said.

Clapp admitted, “Real estate wasn’t always the plan. But I can say it’s been the best career decision for me. ”

The Abundance Panel will begin at 3pm and will also feature Cynthia Foster, president – office services at Colliers International, Romy Goldman, founder, Gold Development, Alicia Popper, senior vice president, PBC USA Real Estate, and it will be moderated by Carol Rosenthal, partner at Fried Frank.

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