ATLANTA (Nov. 23, 2009) - The monumental condo crash has been good for Atlanta's Norman J. Radow and his Radco Development Solutions.
Radco, you see, specializes in breathing new life into zombie buildings and condo towers across the country. And today, there's a lot of these buildings. The success of Radow, whose signature turnaround project in his hometown is The Grand (now Four Seasons) condo and hotel tower in Midtown, has caught the attention of The New York Times.
In Sunday's edition, a story about Radow dominated the Sunday Business section under the headline, "Go Ahead and Yell. He's Everyone's Punching Bag." And he doesn't mind being hit, because it's making him a lot of money.
In the article, Radow estimates that Radco "is trying to salvage $2 billion worth of distressed property around the country. One of his biggest clients is Lehman Brothers, which is liquidating its huge real estate portfolio to satisfy creditors after declaring bankruptcy last year." In other words, Radco is collecting a lot of fees.
Good for Norman Radow. His entrepreneurial spirit and know-how are paying off handsomely.
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