The Deal Read Online Free PDF Page A

without pen and paper, as all good New York City waiters are.
    “And for you, sir?”
    “I’ll start with the blue-corn crusted calamari, followed by the Arctic Char in the tomato salsa.”
    “Very good, gentlemen.”
    The waiter walked away.
    “Like I was saying, I’m not following you.”
    “Real estate, Jonah. We are looking to get involved in buildings.”
    “Excuse me?”
    I looked at Andreu as if he were kidding.
    “What do you mean get involved with buildings?”
    “What the fuck do you think I mean? We want to buy some buildings. An entire portfolio perhaps.”
    “Oh, an entire portfolio perhaps? Listen to you. Andreu, you guys don’t know the first thing about real estate in this city.”
    “But you do. And we understand good business. It’s no secret what has happened to the real estate market over the last couple of years, especially since 9/11. We feel there are definitely valuable opportunities out there and we want to invest in something solid. Something we truly feel will grow in value over the course of the next generation.”
    “Very nice. Capitalize on my country’s misery.”
    “Don’t be a dickhead,” Andreu said, acknowledging my twisting of his words. “It’s part of our diversification and risk disbursement strategy for the future. There are too many growing threats in both the physical and economical climates surrounding the world’s natural gas environment for us not to get involved with other industries. It’s a simple situation of trying to throw off some risk.”
    I took a long sip of my drink, finishing it.
    “How long have you and your firm been thinking about this?”
    “We have been discussing it off and on for years. At this point we are one of the largest companies in the world. We have liquid reserves coming out of our asses. With what has happened to the economic climate, and the fact that the commercial real estate market here is on the rebound, the timing just seems right. We happen to be in a perfect position to ride this wave.”
    “Why me?”
    “Because I trust you. More importantly, because you’re the best.”
    I got the attention of the waiter.
    “Yes?”
    “We need another round.”
    “And two shots of the strongest vodka you pussy Americans drink,” Andreu added.
    “Shots?” I asked.
    “You look like you could use one.”
    “Andreu, what are you looking to do? I mean, do you want to go in with partners, do you want Class A property as opposed to Class B—”
    “No partners, Jonah. Just Prevkos. And as far as what to buy, that’s why I’ve come to you on behalf of our entire board.”
    “How much are you looking to part with?”
    “Half a billion to get our feet wet. If all goes as planned, we build from there.”
    I was stunned. I couldn’t say a fucking word. Andreu leaned forward.
    “Looks like I finally got your attention.”
    “You want me to shop for New York City buildings with a half billion dollars of your shareholders’ money?”
    “Now we’re getting somewhere.”
    “This is crazy.”
    “Too much for you to handle?”
    “Not even close,” I retorted. “I just don’t think you fully understand what you’re getting into here.”
    “Oh yeah? Why’s that?”
    “New York City commercial real estate is tricky. Most of the properties are owned by enormous corporations or major families who don’t just give up what’s been theirs for almost a century. If it’s not one of them, it is some real estate conglomerate that has probably gone public in the last few years.”
    “I don’t give a fuck who owns what. I don’t care if we have to get what we want from General Electric or fight the board of Vornado. I don’t mind if I have to knock some old farts dick in the dirt—everything has a price. Everyone is always going to listen if they are being offered a premium.”
    The first clue that Andreu had actually been doing his homework.
    “Did you just say Vornado?”
    “Come on, Jonah. You didn’t think I’d come to