BIGGEST RISK with Gerald Rosengarten

Commercial Real Estate Pro Network

J Darrin Gross

I’d like to ask you, Jerry Rosengarten, What is the BIGGEST RISK?

Gerald Rosengarten

If you own real estate, you're always at risk. Always. Somebody falls on your property somebody else there's a fire These are the things that you're going to always be risk. As far as the biggest risk is building the real estate. To build it, catastrophic things can happen. I had a crane fall in a building I was building Bowery, another building that was built. Seven, also a 17 story building. And the crane fell and knocked out the eighth and seventh and sixth floor of the building. Now, no one's living in the building. But that crane sits next to other buildings. And if it went another way, different story. I think that's the biggest risk that I know.