Press

Thomas F. Campenni, as owner, has sold a residential property at 402 Sound Beach Avenue, Old Greenwich, CT for an undisclosed sum. The property, a historic home dating back to the late 1800's, was part of Mr. Campenni's residential portfolio.

Polly Campenni has been asked to join the Advisory Board for Martin Volunteers, a program of the United Way of Martin County, FL. Martin Volunteers supports volunteerism in Martin County and matches volunteers with community needs and sponsors the White Doves Holiday Project, Back to School Supplies Drive, and the Executive Service Corps. Polly also serves as a consultant for the Executive Service Corps.

The bad economic news continues to dominate the newspapers and other media. Just this morning the New York Times had a front page story on the arrest of two fund managers at Bear Stearns for deceiving their clients into investing in subprime mortgage-backed securities. Our dollar is at a new low against the Euro and other currencies while the price of oil continues to climb. It appears to me that all of us must now understand that our way of life is undergoing a drastic change.

How do Americans invest, especially in real estate, when there is such uncertainty in the country? While the New York market continues to remain remarkably strong because of foreign investment due to a falling dollar against other currencies, the rest of the country is still experiencing weakness and in some cases is still declining in value.

The way to form an investment strategy is to first understand the emerging fundamental change of the United States' position in relation to the rest of the world. While our economy continues to be the largest and most integrated in the world, in the future it will not be able to bully others in to doing its bidding by sheer force of will. At present, because of our government's failure of having anything resembling an energy policy for the past 35 years, there is a colossal transfer of wealth from the U.S. to oil producing countries. Historically, we have been fortunate that those countries have invested their profits in America since our economic growth was more consistent and predictable. Our financial markets were the most stable as well. Neither is the case any longer as witnessed by the new investment construction in Dubai and other places.

With the price of oil at historic high levels, the U.S. can no longer afford to have an SUV in every garage and homes sprawled miles from jobs, schools and stores. Unfortunately, many Americans are slow to embrace change that cramps our lifestyle….for us, bigger has always been better in everything from cars, to homes, to RVs, to jewelry. The American dream must change to a more affordable and sustainable one. Therefore, real estate continues to offer strong investment opportunities, but I would advise you to consider energy efficiency, proximity to employment, and size when considering which home will have the most appreciation.

The United States and its citizens must truly learn to live and work in a global economy. Even real estate, which has usually thought of as impacted more by local issues, is now more and more tied to outside factors. When putting your money down on a property, think broadly about domestic and global economic fundamentals and carefully about your personal financial situation to be sure you can manage the costs associated with the property. Real estate will continue to be an important component in individual financial and investment portfolios, but purchasing decisions must be evaluated differently than they have been in the past. By making that careful evaluation, you will ensure the future health of your portfolio.

After a year of bad news on the home sales front, there does not seem to be any relief in sight. In many areas of the country, local real estate boards and attorneys are proclaiming the light at the end of the tunnel. I am not sure that I agree. The fundamentals have not yet come into balance in order for markets to stabilize.

Real estate markets, as all markets, are in balance only when supply and demand are roughly equal. What is still lacking is an adequate demand for a vast supply of housing. Not that a demand does not exist, but that demand is tempered by the fact that prices are still not affordable for many people. If you couple that with the over abundance of new and existing housing units, we are not likely to see equilibrium in the market for some time.

While certain established luxury markets were not affected or have already begun to improve, the majority of middle income housing has a long way to go before normalcy returns. In fact for normalcy to return, a few factors representing other areas of our economy must change. Such factors as income, jobs, credit worthiness and prices (especially for oil and food) must stabilize.

Take the credit worthiness of borrowers. For the past twenty years the American people both individually and as a government have spent more than they earned. We have been told by our leaders that the dollar you borrow and spend today is patriotic. In fact, both Democratic and Republican administrations have proclaimed that to be a fact and by their own actions have shown us the way. The United States has spent its patrimony on consumer electronics instead of infrastructure, bloated government payrolls instead of educating our children for the challenges they will face, and oil guzzling SUVs instead of renewable energy.

The dizzying real estate bubble that caused home prices to climb to the point where people could not afford to own a home without unsustainable financing is a symptom of the problem. Will real estate and other markets return to "normal?" If you define normal as what the United States has had for the past twenty five or thirty years, the answer is yes. But, the future holds periods of prosperity of shorter and shorter duration followed by periods of weakening markets that will become more sustained.

The answer for our problems is not the quick fixes of a suspension of the gas tax or a tax rebate but a fundamental shift in the way we, as a people and as a nation, conduct ourselves. Until we fundamentally change the way we do business both domestically and in the world, our problems will only become deeper and more complex. We are consigning our children and grandchildren to a life reminiscent more of the developing world than the one we knew.

Giving back to the communities in which we work has always been an important value to Thomas F. Campenni Co. We have made contributions to the following charities this year: The Making Headway Foundation in Chappaqua, NY; St. Anthony"s High School, Huntington, NY; Red Cross of Martin County, FL; Camp for Kids in Stuart, FL; Lyric Theatre, Stuart, FL; Pet Animal Welfare Society, Norwalk, CT; and the American Cancer Society. In addition, Tom is a member of the Disaster Relief Team of the Martin County Red Cross Chapter.

Our housing and credit crises grow more troublesome every day. There is no lack of statements by the politicians on what should be done. The only thing that Congress and the President have agreed on is a rebate to most American taxpayer/consumers to allow them to spend more. Isn't spending money the thing that got the American economy in trouble in the first place? Isn't the national deficit large enough without adding to it by this dubious economic trick?

Should anything be done by the government to help financial institutions and home owners that are now facing insolvency and foreclosure? I can say with some confidence I don't know the answer. If fraud by any broker, appraiser, lender or mortgagee was used to obtain these loans, then the full weight of our laws should apply. But should we bail out the guy or gal that bought a home in anticipation of values increasing endlessly? What about the 90% of people who did their homework before buying and are doing just fine; should they foot the bill for those that screwed up? I don't think that is fair.

This country has so many pressing problems, but our political dialogue is centered on what Obama said about small town Americans or Clinton's flight of fantasy in Bosnia a dozen years ago or McCain's not being able to keep Shi'ite and Sunni straight when speaking. These are not the biggest problems confronting us in this election year regardless of what Fox, MSNBC and CNN shout at us.

While our real problems mount, Democrats and Republicans argue over how to best eliminate the foreign hordes from our midst. Instead of welcoming hardworking people from other nations into our midst, we vilify them as if they bring they are bringing the plague. The same people who scream about "illegal immigration" forget that they are the sons and daughters of immigrants. When their forefathers disembarked on Ellis Island, there were no quotas but plenty of xenophobic behavior. How soon do the grandchildren forget NINA (no Irish or Italian need apply) signs. Nativist sentiment survives in the generation that was here first.

We hold the course in Iraq and spend billions but are told that we have no money to insure that our citizens have access to medicine and doctors. The rest of the world makes sure all their children are educated; some of our high schools barely graduate 50% of the students. So that we can feel good about driving, we convert food to fuel and the largest byproduct is not a drop in greenhouse gasses but a rise in global fuel and food prices.

There are no easy answers to any problems. It will take the combined efforts of all Americans to solve them. What we need to do is to stop talking about the inconsequential and focus on the important. Our Democrat and Republican elected officials have got to stop playing "gotcha" and start doing the people's business. Compromise is not a bad thing in a democracy that has three hundred million people. Absolutes are for dictatorships.

Thomas F. Campenni CPM CCIM has represented the owner of 21 West 46th Street in New York City in the sale of the air rights to Extell Development.

Thomas F. Campenni CPM CCIM has represented the owner in renewing a lease for the entire 7th floor (20,000 sq. ft.) at 41 East 11th Street in Manhattan for New York Univeristy. NYU has been a tenant at this property for the past several years.

For some time now, we have heard about the melt down in the residential real estate market. The foreclosure rates on homes are rising, and many other homeowners are barely able to meet their payments. This problem is exacerbated by the fact that some people are also worried that they may lose their jobs in a deteriorating economy. What has not, until recently, been in the press to the same degree is information regarding the state of the commercial real estate market.

In spring, 2008, investment in commercial real estate has decreased to levels not seen in about 4 years. However, the fundamentals remain relatively strong. Vacancy rates continue to be low, and few markets are experiencing negative rent growth. These signals might suggest that now is the time to invest in commercial real estate in addition to carefully managing your current real estate portfolio.

If you own commercial real estate, what can you do to protect your asset? Commercial real estate is no different than any other type of asset. It must be actively managed to achieve the highest return on the investment.

Professional real estate asset management is the best, most reliable, solution. Most people who have a large portfolio of stocks, bonds and cash have professional money management. The same should be true of your real estate asset. Professional real estate asset management will increase the likelihood that your objectives will be met. Since real estate is a highly unique form of financial investment, your real estate asset manager will possess different skills than your money manager.

The nature and size of the real estate investment assets would define the asset management services needed. However, in all instances, the asset manager should physically mange the property, advising the investor on the fiscal viability and timing of maintaining/upgrading the property to ensure market competitiveness. An accomplished real estate asset manager should also be able to sit down with the investor to discuss the financial objectives and performance expectations the owner has from the asset and if/when to add additional types of real estate to the portfolio. When working with a money manager, there are certain funds that are bought for growth or for dividends, and the same is true of real estate. An astute real estate asset manager will be able to provide advice and guidance, and perhaps more importantly, recommend a real estate portfolio that will achieve the return desired.

When choosing a real estate asset manager, the investor should make sure that the manager does more that just use a computer program to determine the investor's needs. Unlike stocks and bonds, the management of real estate is an art as much as a science. A great real estate asset manager is like a great chef who studies and trains in a number of different techniques and cuisines. However, the greatness comes when he adapts and changes depending upon the tastes of the diner and the ingredients at hand when actually preparing the dish. A real estate asset manager should be able to do the same. He/she should be trained in the disciplines of building management and finance. The asset manager should also possess the CCIM (Certified Commercial Investment Member) designation, which identifies him/her as one of only 6% of commercial real estate practitioners who have successfully completed the required rigorous coursework and exams in commercial and investment real estate. The designation, however, needs to be enhanced by an advisor who is able to adapt those skills to the individual real estate asset and the individual owner. Only then will the investor be getting the best possible management focus for his/her real estate assets.

In my January article (available on my website at www.thomascampenni.com), I discussed the challenges facing a small business owner in the United States. This time, I'd like to propose the pitfalls in small business ownership – in other words, what makes that small business fail. Before we proceed however, I want to narrow the focus of what type of small business I am talking about. If I were going to discuss all small businesses, we would include retail establishments such as restaurants and shoe stores. I would also have to include small manufacturers of clothes and jewelry. The business failure rates perhaps would have different percentages and be for different reasons than the businesses I want to discuss.

However, I am going to discuss why small businesses like mine might fail. My firm has 3 significant lines of business…real estate asset management, commercial property management, and real estate consulting. People in a business like real estate are not selling watches, dresses or a nice meal. They are offering services and expertise to the public in specific areas. Whether you are assisting in a transaction to sell a house or managing someone else's real property asset, the client is paying you because he/she is deriving some benefit from your service.

So the first reason that these types of businesses fail is because of the incompetence of the owner. You are confident that no one can do it better than you. Confidence in our own ability is not only a good trait to possess but also a necessary one for the entrepreneur. However the smart business person must also know his/her weaknesses and limitations. It is important that we are competent in our business but equally as important not to take on tasks or assignments that we do not have the expertise to accomplish. That is one sure way to lose a client.

Another reason businesses fail is that the owner is undercapitalized. Unlike retail or manufacturing, there is a minimum amount of start up costs associated with our type of business. There is no inventory to purchase or tremendous amount of space to lease. However, it may take some time to have enough income from the business to pay your salary. If the entrepreneur does not have enough capital to see him/her through this start up phase, he/she may be forced to become an employee once again.

The third main reason, in my opinion, that businesses fail is that the business owner is completely unprepared for the rigors of ownership. I have experienced countless people open their own business only to think that they are now the boss and can do what they like. The do not have the discipline to work on their own. In other words, they fail to think of themselves as not only an owner but also an employee. It is important to remember that the enterprise your "job," and that job will take many hours of "overtime" to make succeed and prosper, particularly in the early stages.

Owning your own business is not for the faint of heart. It takes dedication, persistence, ability and luck to succeed. I salute anyone who is ready to take on this challenge.

Most real estate practitioners are small business people. You might be an individual sales person or a broker affiliated with an office and operating as an independent contractor. Or you might have your own brokerage firm, perhaps a paid person or two, with sales people working with you as independent contractors and. In our $14 trillion economy, you are considered a small business person. In order to thrive, you must also be an entrepreneur, which is to say you are someone who is willing to assume the risk for the sake of making a profit.

As a small business person, you most likely wear many hats. You must not only be successful in real estate but also have some knowledge of human resources, technology, accounting and myriad of other disciplines. When necessary, you must be willing to make the copies, clean the office and run to the bank to make the deposit. Remember, those two paid staffers mentioned in the preceding paragraph take vacations, call in sick, and quit (sometimes without notice). You are surely the boss but also the employee. The buck not only stops with you but probably begins there too.

Many people who started their careers in large companies and then transition into their own small businesses never quite get the hang of it. They may never get used to having no one to type their letters, to get that file or to open the mail. And, then there is the social component of working. In a small enterprise, the talk around the water cooler may be nonexistent because there is no one else there or no water cooler. You may have gone from a corner office with a mahogany credenza to the spare bedroom in your house. Now, that takes some adjustment!

But, perhaps the most challenging adjustment is the constant need for self-discipline. You must become used to being alone and on your own. There is no one watching whether you are working or not. If you are not a self starter, then this is definitely not for you. Self-motivation is what keeps you on track. After all these years, I still feel guilty if I am not working at least 45 hours a week and accomplishing everything on my daily electronic "to do" list.

When you become a small business person, the things you took for granted in the corporate world become time-consuming distractions. Retirement funds and 401K's now are your worry to set up and fund. For years, you thought you knew about the crisis in health care in the United States. But, the shape that crisis took in those days revolved around the amount of your co-pay for medical care (which you always thought was too high!). Now the problem for you may be obtaining an affordable health care plan that provides adequate coverage, and that assumes you can even find a plan willing to cover you and your family. What happens to if you become disabled and cannot work? Unfortunately, not paying attention to those more administrative and operational challenges, which in a larger company will most surely be handled by a benefit specialist, can spell disaster for your small business.

Most small businesses fail. I'll tackle why they fail and how you can avoid those potential pitfalls in my next article.

Thomas F, Campenni acted as the broker in leasing the entire 9th floor (7500 square feet) at 159 West 25th Street to Lead Dog Marketing Company. Lead Dog currently occupies the entire 2nd Floor in the same building which is managed by Thomas F. Campenni CPM CCIM. Lead Dog, whose main office is located in the building, will now have two floors in the building. In addition to the offices in Manhattan, they also have offices elsewhere in the U.S. and internationally.

Americans have a curious and strange relationship with the rest of the world. We love to be the "top dog." We are the guys who know what is right and we don't stand for contrasting opinions. The U.S. wants to influence the rest of the world until it becomes too difficult, and then we want to retreat back to our borders.

We view immigration the same way. We embrace the idea of the Statue of Liberty, but every so often that idea clashes with our national psyche and we want all those "foreigners" to go away. We are afraid that we are losing our culture, religion or language to an invading horde. But, it is that horde that is one of the reasons our economy and nation continue grow and remain dynamic.

If immigrants are such a problem, then why have I seen entire neighborhoods revitalized by their hard work? Dilapidated housing is rebuilt using the money earned by being employed in the American economy. Businesses are opened by immigrants who struggle to communicate to their customers in a language that is foreign to them. Aren't those businesses contributing to the greater United States economy?

Every time an immigrant rents an apartment, store or an office from me, is the rent he/she pays inferior to what an American-born tenant would pay? When I employ contractors to renovate space so that I can rent to a foreign-born or U.S.-born tenant, is there a difference? I know that without these immigrants, my business would be less successful.

How can anyone say that the immigrant population is diminishing our culture or making us less "American?" What is more American than potato pancakes, macaroni, rice and beans, wonton soup or an enchilada? When Leno or Letterman utter a Yiddish expression, is there any American who feels violated?

You can't be a "real American" unless you can embrace the differences. The only foreign influence is one that has been in the U.S. for less than a generation because at the end of one generation, the immigrant and his family have been assimilated into our culture. As an American, I can't be anything but welcoming to those coming to our shores in search of an American dream. Every immigrant from the Guatemalan gardener to the Bangladeshi waiter to the Polish plumber enriches my life both economically and culturally.

There are no "illegal immigrants," but rather people who have a desire to live the dream that is the United States. To criminalize people who have done nothing more than come to our nation to work is criminal. We would not be the great nation that we are if it were not for hundreds of years of continuous rebirth brought by new arrivals.

My business experience has taught me that there is not a difference whether I sell a house to a person born in Utah or Uzbekistan. If my vacant apartment is rented to a fellow from Shanghai or Richmond, I can't tell the difference in their money. If the Owner I am working with is from Dublin, Dubai or Detroit, it makes no difference since the investment is in the United States. Immigrant capital that is invested in the U.S. or immigrant labor that is produced in this country only contributes to and strengthens our economy.

In the state of Florida, the legislature and governor are in the process of reforming property taxes. In order to please and assuage their constituents, they are making a bad situation worse. The current disparity in property taxes in Florida is so widespread that the governor and legislature are trying to fix the problem within the very system that created it rather than changing the system entirely.

The "Save Our Homes" Amendment to the Florida constitution (enacted in the mid-90's) succeeded in allowing real estate taxes of residents to remain almost frozen in place once they took possession of a house. A cap on real estate taxes for a home that has a homestead exemption meant that the voting public was immune from paying for any increase in spending that politicians passed. It was perfect for any one feeding at the public trough since the voters didn't have a stake in any increased spending. Who was paying for all those municipal, county and state projects? The burden fell mostly to businesses, snow birds and first time home buyers since they were exempt from the cap on property tax rates. A crisis began to emerge because Florida was no longer the place to come for the winter or to retire or to own a business. Without the influx of new homeowners and new businesses, there were fewer and fewer ways to generate revenue. In fact, many long-time Florida residents began to move OUT of the state to places like North Carolina and Tennessee. Clearly something needed to be done.

The governor and the legislature have put their heads together and come up with a new amendment that not only leaves the insanity of the "Save Our Homes" Amendment in place but adds all types of new benefits for businesses, snow birds and first time home buyers. Florida politicians have also added "portability" so that existing residents can take their present tax structure to a new home and not lose all their "grandfathered tax benefits." The new amendment is complicated and includes exceptions. It took the Florida House of Representatives Majority Whip 10 pages to explain the amendment. Any constitutional amendment that needs to be explained is not something that should be in the constitution.

It will be placed on the ballot in January for statewide vote. If passed, this amendment will only make Florida's problems worse in the years to come. Every tax payer and resident should pay for the cost of their government. You can't immunize the residents of the state from expenses incurred as a result of the votes their elected leaders make during legislative sessions by putting caps on ad valorum taxes. Straight-forward and equitable tax revenue schemes must be developed. And, now here comes the government's reactionary responses to the potential loss of tax revenue…..pulling certain services out of the regular budget and creating "special assessments" to pay for them.

If the citizens of the state want to fix the mess that has been created, then not only should they vote against the proposed amendments but also do away with the "Save our Homes" Amendment and return to having all voters and residents of Florida pay for their government using fair and equitable systems.

Thomas F. Campenni, managing agent for approximately 500,000 square feet of commercial space in New York City, also manages the historic 227 Riverside Drive building in Manhattan. This building, which has landmark status, has recently completed major capital improvements to the exterior including brick work, lintel restoration and replacement of a unique and historically significant cornice. The building was built prior to 1900 and has breathtaking views of the Hudson River, Riverside Park and the George Washington Bridge. These capital improvements were approved by both the Building Department and the Landmark Department.

Thomas F. Campenni was the broker in leasing the 10th and 11th floor, 40,000 square feet, at 41 University Place a/k/a 95 University Place to Enfrastucture New York Inc. The 10-year lease commences at a base rent of $35.00 per foot. Enfrastucture provides startup internet-related companies with fully furnished offices and tech support.

Every day the print and broadcast media keep telling us how weak the real estate market is. These are the same "experts" that proclaimed how hot the market was only a little over a year ago. "Buy now or you will be left out in the cold" was the message in soundbite after soundbite.

Many of the individuals that followed that frenzied message are the same individuals that are stirring at foreclosure today. If they were the experts, reporters and pundits would be heeding their own advice. The best single thing that any investor can do is ignore the herd mentality and stick to fundamentals. Sticking to the fundamentals also involves doing some homework to be sure that the investment will produce a return.

When you put your money into any investment, whether that investment is stocks or real estate, the financials are what counts. For example, one property may cost $500,000 and another $5,000,000. What determines which one is the better investment?

The $500,000 property may very well be the better of the two, but only a careful review of the relevant financial information will provide the answer. The reporter on the 6 o'clock news is not your investment advisor. He/she is looking to increase the ratings with sensational stories, often without much research to support them, not your bottom line.

If you check my website you will see that I have only one or two vacancies out of 500,000 square feet of office space and more than 100 residential units. Every property is undergoing some type of major renovation from new elevators to new lobbies and HVAC systems. Rental rates continue to climb in every sector. My clients' real estate portfolios have never been stronger.

Getting the various properties to this point was no accident but the result of careful and thoughtful management over time. Each and every decision was arrived at by looking at the numbers and determining how to increase the value of the property and the net operating income. Not only must you have a plan, but you need to revise the plan to meet a changing situation.

As an investor there is always opportunity. One must look not to the headlines but to the fundamentals. If one has a plan and a strategy, then the vagaries of any market, while challenging to your bottom line, should never prevent you from reaching your goals.

Thomas F. Campenni has signed several new leases and renewals at the prestigious Landmarked building at 227 Riverside Drive, New York, NY. All new tenants occupy completely renovated 1- to 4-bedroom apartments in this gracious pre-war building, most with commanding views of the Hudson River, Palisades, George Washington Bridge and Riverside Park.

Thomas F. Campenni was featured in the September/October 2007 issue of Commercial Investment Real Estate, the magazine of the CCIM Institute. The article focussed on independent brokers sharing their strategies for competing in today"s market. Tom was quoted as saying that he "devotes ... attention to my clients, providing personalized service that is rare in today"s technology-based environment. A unique feature of being one of my clients is that when you call the office, you will speak to me personally instead of staff who aren"t authorized to make decisions or take action."

The article can be viewed on pages 38-40 in the issue.

Thomas F. Campenni, acting as broker, has leased the entire 9th Floor at 159 West 25th Street to Lead Dog Marketing Group, a Marketing and Media Company. The term of the lease is ten years. Lead Dog, an existing tenant in the building, is expanding the business which required leasing additional space to accommodate the expansion. The building is also managed by Thomas F. Campenni.

During 2007, Thomas F. Campenni has represented ownership in the signing of over $500,000 in aggregate rent in various properties in Greenwich, Connecticut.

In the Sunday Business section of the September 9, 2007 edition of The New York Times, Ben Stein wrote a worthwhile article, "It"s Time To Take A Deep Breath." It helps to put the entire sub-prime mortgage situation into a broader, and more rational, perspective.

I recommend it to anyone who wants to add balance to the current debate.

I was in Vancouver last week, and my wife and I took a cab from our hotel to the airport. The cab was immaculate and looked great. The driver was an immigrant to Canada from South Asia and spoke in very understandable English. He even apologized to us after speaking on his cell phone for a few minutes to another driver to whom he was giving directions by using his GPS. It was a very pleasant experience.

My last encounter with a cab driver in New York City was completely different. My wife and I were also going from our apartment to the airport. It was a sweltering August day. We got into a cab which had the windows open and the air conditioning turned off. The interior was as dirty as the exterior. I closed the rear windows and turned on the a/c in the back of the cab.

However, since the driver did not close the front windows or turn on his a/c, the rear was not getting any cooler even with the partition partially closed. Finally, I said to the driver that I wanted the a/c on and his windows closed. He mumbled something about not liking air conditioning. At that point, I had to remind him that I was the customer and that I preferred the air conditioning on.

Most of my interactions with New York City cab drivers are unpleasant. For the most part, they don't know the City outside of Manhattan below 96th Street and the airports. I can't count the times I have given an address to the driver only to find out that I was not understood. As my wife will tell you I go to great lengths not to take a taxi in New York (she finds the Train to the Plane more daunting than I do!).

I am not in New York as I write this, but I read in the paper about a strike taking place by some drivers. They are protesting the fact that they are being required to have a GPS and to take credit cards. They received a 25% fare increase to compensate for these improvements over the last two years. Now that it was time to put these systems into the cabs, the drivers have decided to strike instead.

New York is a world class city. It has so much going for it. But it also teeters on the edge of being a third world city. When I was first in real estate in the early 1970's the city was teetering on the verge of bankruptcy and anarchy. That is no longer the case. The real estate market is booming as so many other things are. Crime is low as compared with other cities. In 1975, the streets were deserted once night arrived, and now they are teeming with people.

However, New York could learn from other places. The Building Department is a throwback to Dickinsian London. San Francisco, which has tougher requirements, is all computerized and it is far more efficient in granting approvals. Buying an apartment in the New York market is completely unique and, again, less efficient as compared to other major cities of the country. And, it appears that even taking a taxi, an age-old New York tradition, is taking a backseat to many other cities.

Thomas F. Campenni contributed to the Martin County "Kids in Camp" program, which is sponsored by the Martin County Parks and Recreation Department. This program gives many children and teenagers the opportunity to attend summer camp and experience the healthy activities that enable them to strengthen their interpersonal skills and become more responsible and independent.