Land prices, he was told, "have really shot up."
Yeah, it’s amazing. We just traded a site on Fourth Avenue for $250 a buildable foot, and I remember the sites that we were selling at the end of the recession, in 2011, were like $100, $110 a buildable foot. The price more than doubled.
We sell development sites in Williamsburg now for $350, $365 a buildable foot. At the end of 2011 it was $150.