Courtesy of Frederick Peters, President of Warburg Realty
Although I am the grandson of retailers, bankers, and businessmen, I did not expect to go into business myself. As most of you know, I thought I would have a career as a music professor, writing music and teaching classes. Then, when Alexandra and I got married in 1977, she thought with the market SO low it would be a good time to buy an apartment. No one was investing in New York – the city was in the throes of a severe financial crisis, crime was terrible, and many believed that the city was dying. Our decision to buy was economic, since prices were at all time lows, but it was also an act of faith in a city we loved. That apartment search changed my life forever. I was bitten by the bug and it was just a couple of years later that I got my license and became a broker.