Big deals in real estate happen because of planning, preparation, and presentation. The below linked article is about the selection process in New York for a company which will be charged with renovating a nearly 200 unit housing project in Coney Island. If you are not a contractor licensed in New York, it’s easy to think this story does not have a lesson or message for you. From my viewpoint, there are plenty of lessons from stories and situations such as this one.
The builder selected is a joint venture of two large companies with experience in projects of this magnitude AND working with private and publicly funded projects, giving them a major niche. It is likely to be a multi-million dollar project when all is said and done. Again, it’s easy to think that you are not involved in companies which do that. From my viewpoint, there are plenty of lessons to take away.
It is a project awarded among vendors that were approved back in 2019. Somehow, those vendors did their homework to be in position to potentially be awarded a multi-million dollar project in the future. That is lesson number one.
Those vendors got in that position because of research. Someone found the information, or passed it along to them. Proposals had to be researched and prepared to seek approval. Upon approval, the chosen entity has to show their ability to complete the project, and will have up to two years to do so. It is the point where preparation turns to presentation. The builder company has to present how and why they will carry out the mission.
This is not only a lesson for builders or contractors, or only for those in the NYC area. No matter where you are or concentrate on, there are plenty of opportunities, whether for bidding, renovation, or up for significant change.
Suppose you are a broker that learns of a big opportunity for a builder, contractor, investor, or lender and helps them make the connection. You may not receive a direct commission, but you will be in position to get and keep their attention for future opportunities. The Coney Island project may be starting soon, but it took more than 7 years to be in position. Buyer, seller, and investor relationships don’t magically form within a few days. It’s an important lesson.
My team and I perform research and assist with preparation and training right down to details like your public speaking skills. Let us help you to be “first in” for future deals!
https://www.nyc.gov/site/nycha/about/press/pr-2026/pr-20260617.page