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Real Estate REality Check | Real Estate & Business Career Success Education and Training

Oct 10, 2019



Today we have with us Peter Braus, an owner and operator of real estate as well as the managing principal of Lee & Associates NYC, the entrepreneurial, fully integrated service real estate firm with a national reach yet local expertise. Among two of Peter’s sagelike business mantras are that of “a good broker must understand a client’s business well enough to know what type of space their client needs,” and (somewhat akin to Albert Einstein’s line of “Try not to become a man of success, but rather try to become a man of value”) Peter’s mindset of that “if a broker can’t add value to a deal as a broker, they have no business being involved in that deal.” 


Episode Notes:


At 2:12, Peter Braus touches upon diversification, Lee NYC’s growth, and opportunities that exist in the marketplace. At 6:14, Peter provides his thoughts on commercial rent control and the current retail landscape. At 11:15, Braus discusses situations in which pop-up stores make sense for a tenant. At 13:31, he makes note that the definition of mom-and-pop stores has changed. At 17:38, Peter talks about SoHo now versus the SoHo of the past. At 20:46, Braus speaks on a tenant having the power in the current day marketplace, and at 23:49, he shares time being on the tenant’s side. At 29:00, Peter dives into starting Lee NYC about 8 years ago. At 30:07, Braus believes that in brokerage one doesn’t have the option to spectate given the “eat what you kill” nature of the business, and as a result one must always be on the job. At 33:20, he points out that Lee NYC likes to hire athletes due to the competitiveness athletes possess. At 36:17, Peter shares the impact September 11th has had on how he goes about his life. At 40:34, Braus answers the question in if he believes real estate owners will shop around and take advantage of rising cap rates and distress in the marketplace. At 48:00, he discusses advising clients on how to leverage the equity in their buildings. At 56:14, Peter mentions his dislike for “stupid, lazy and/or lying” brokers. At 58:41, Braus talks about Long Island City and Amazon. At 1:03:25, he dives into the collaborative culture at Lee NYC. At 1:07:41, Peter speaks about learning from difficult past experiences, as well as breaking through the clutter in NYC when Lee NYC first started. At 1:12:23, Peter Braus closes out the podcast with a dual message on appreciating what you have to work for, and not allowing the highs get too high and lows get too low.