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The deal of the Art (from The Real Deal) The Procida Investor Plan

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The deal of the art

Seeking sophistication, firms are increasingly “curating” what’s on their walls

November 01, 2012
By Cody Lyon


It’s not just the Saatchi & Saatchis and Goldman Sachs’ of the world that hang five- and six-figure art on their walls these days. New York’s residential firms are starting to do the same in the hopes of luring high-end clients.

“It helps people realize that a brokerage might possess the level of sophistication and/or taste that matches their own,” noted interior designer Buzz Kelly of the trend, which TRDwrote about earlier this year and is gaining steam.

LINK TO FULL STORY AT THE REAL DEAL Commercial Real Estate News and Property Resource
Last updated: February 5, 2009 12:01pm
Procida Has a 100-Day Plan
By Cody Lyon
NEW YORK CITY-On a cold night in late January at Columbia University’s Avery Hall, William
Procida–founder of the company that bears his name–stood before an audience of
architecture students, investors and other real estate players to present his idea for thawing
the nation’s frozen economy and solving its real estate woes.
Procida brings to the table 28 years of experience in both finance and development, as head of
the Procida Organization and William Procida Inc.–which evolved into Palisades Financial, and
last year, he brought back WPI–headquartered in Fort Lee, NJ–as a vehicle for turnaround
management. And now, he calls his latest venture–Plan 100–a volunteer project, saying he
was motivated by concern for his children’s future and great displeasure over his tax dollars
being squandered.
Procida has been promoting his Plan 100 for a few months now. He argues that instead of
funneling billions of dollars into the nation’s largest banks, the federal government should
deploy $100 million, each, to 100 local investment managers. Those managers would then be
required to purchase defaulted loans and make new loans to customers within 100 days. He
says there is tremendous flexibility on the number of managers, but no compromise on the amount of time those investors would be able to hold the cash.

“Time is the key to the plan,” Procida tells “If the government had told the
banks they had 100 days to deploy the capital they were given, you and I wouldn’t even be talking right now,” he said.




Written by codylyonreporter

November 6, 2012 at 5:12 pm

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