A Green Forest Grows in Brooklyn: Joint Venturing with the Chinese

Charles F. Wu

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Teaching Note | HBS Case Collection | August 2018

A Green Forest Grows in Brooklyn: Joint Venturing with the Chinese

by Charles F. Wu

Abstract

Teaching Note for HBS No. 218-010.

Language: English

Format: Print

11 pages

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Citation:

Wu, Charles F. "A Green Forest Grows in Brooklyn: Joint Venturing with the Chinese." Harvard Business School Teaching Note 219-011, August 2018.

About the Author

Charles F. Wu

Senior Lecturer of Business Administration

Finance

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Case | HBS Case Collection | August 2018 (Revised December 2019)

Brooklyn Lodgers: 78 South Third St., Brooklyn, NY

Charles F. Wu, Jackie Bereiter and Signe Conway

Nathalie Parizat and her husband, Hugo, were contemplating a new real estate investment. For two years they had been frustrated by and lamenting their situation of paying high rents to third parties while the couple had idle cash in the bank. They also were convinced that Brooklyn's rising rents and property prices were showing no signs of abating. The couple had $100,000 in savings, which they intended to combine with mortgage financing to purchase a residential income-producing building. Nathalie focused her search on Brooklyn, narrowing it down to Williamsburg, where she thought there was better potential to make a good return on their investment. She had quit her full-time job and was planning on managing the building and the renovation—should it be needed—herself. Was she ready to take on this challenge or was she in over her head?

Keywords: real estate development; Property; Investment; Management; New York (city, NY); Brooklyn;

Citation:
Wu, Charles F., Jackie Bereiter, and Signe Conway. "Brooklyn Lodgers: 78 South Third St., Brooklyn, NY." Harvard Business School Case 219-022, August 2018. (Revised December 2019.) View Details

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Case | HBS Case Collection | September 2017 (Revised December 2019)

Miami Price: Bidding on an Iconic Transit-Oriented Development Site

Charles F. Wu, Aaron Stolear, Vitali Bourchtein and Sayiddah Fatima McCree

13th Floor-Adler, a partnership of 13th Floor Investments and Adler Group, was compiling a response to a Miami-Dade County Request for Proposal (RFP). The RFP's prize was the opportunity to develop a 7.5+/- acre parking lot, adjacent to a heavy-rail rapid transit station, into a Transit-Oriented Development (TOD) in Miami. To win, 13th Floor-Adler had to submit a proposal that was the "highest and best use" for the land, catered to the County's demands for workforce housing, provided a market return for investors and compensated the County for the use of the land.
Throughout its history, Miami has been subject to a number of real estate booms and busts. Intricate expertise of Miami’s demand drivers were necessary in order to succeed. Arnaud Karsenti (MBA 2006), founder and Principal at 13th Floor Investments (13th Fl), with over $1B worth of completed transactions in the South Florida market, had this well of expertise. Furthermore, the partnership with the Adler Group, headed by Michael M. Adler, provided additional credibility for the proposal due to their 50+ years’ experience in Miami.
At "Link @ Douglas," can Karsenti and his team be "placemakers" creating a true live, work, and play environment, deliver market returns to investors and create a winning proposal that caters to the demands of the Miami-Dade County officials?

Keywords: land valuation; real estate development; real estate; land markets; land investment; Property; Design; Valuation; Real Estate Industry; Miami;

Citation:
Wu, Charles F., Aaron Stolear, Vitali Bourchtein, and Sayiddah Fatima McCree. "Miami Price: Bidding on an Iconic Transit-Oriented Development Site." Harvard Business School Case 218-034, September 2017. (Revised December 2019.) View Details

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Case | HBS Case Collection | August 2019

Experiencya Cuba: Two Entrepreneurs in Havana

Charles F. Wu, Mariana Cal and Fernanda Miguel

In 2019, two Cuban entrepreneurs discussed their growth strategy, given the regulatory framework instability, for private companies, in Cuba. Experiencya Cuba offered car and apartment rentals, airport pick-up, and tours around the island, all conducted in perfectly restored American cars from the 1950s.

Keywords: self-employed; regulatory changes; Developing Countries and Economies; Entrepreneurship; Growth and Development Strategy; Problems and Challenges; Tourism Industry; Auto Industry; Transportation Industry; Cuba;

Citation:
Wu, Charles F., Mariana Cal, and Fernanda Miguel. "Experiencya Cuba: Two Entrepreneurs in Havana." Harvard Business School Case 220-024, August 2019. View Details

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A Green Forest Grows in Brooklyn: Joint Venturing with the Chinese

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