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by Acro.net
Date Published: Monday June 30, 2008
 

Euro-laden Investors Gobble up Real Estate in NYC - bAPPLE.com

Posted by Acro in Business, Domains on June 30th, 2008

Real estate recession? Gasoline prices above $4 a gallon? Election year madness?

It can only happen in the United States of America, which is about to celebrate its two-hundred and thirty-second anniversary of independence, on July 4th.

Americans are a nation of hard-working, ingenious people that maintain one element unique around the world: united, they are able to share, create and prosper in any kind of weather, under the protective shield of the All-American Dream.

Simple ideas become entrepreneurial forces that catapult individuals and companies to the top of their industry; combined with the ingenuity possessed by people that are given the opportunity to prosper, it’s an unstoppable force.

Enter Nick Spanos, NYC real estate broker who also happens to be a 3rd generation Greek. Nick owns bAPPLE.com - short for “Big Apple” - a company that deals in premium, multi-million dollar real estate based off SoHo, NY.

I met Nick at TRAFFIC / Orlando in May; he’s the type of guy that looks at you in the eyes and can tell whether you are a bullshitter or not. In the late 70’s, Nick had a prolific encounter with Steve Jobs at the Homebrew Computer Club. Apparently, Apple eventually used one of Nick’s sinus plotting functions in their range of computers; Nick’s affection of geometry led him to create his own computer board. Later on, in the 90’s, Nick began investing in virtual real estate - domain names - and his current 10,000-strong portfolio contains both generics and traffic names, which Nick monetizes using software that he created.

But Nick Spanos is a strong player in the non-virtual real estate field as well. Nick’s ambitious expansion from his Union Square offices to the bAPPLE, Inc. headquarters in SoHo - the premium location in the heart of Manhattan next to world-famous luxury stores - is only an illustration of his commitment to meet the demands of his extensive clientèle, which includes real estate brokerage in Florida, Panama and Greece.

While the US remains in recession, Nick turned his focus to the market that presents increased opportunities: European buyers. With the Euro currently trading at $1.57, cash-laden investors that visit the US and its metropolitan center, New York City, are able to get more premium real estate for their money. In fact, most of bAPPLE’s buyers pay hard cash, something unheard of for the mortgage-driven Americans. And that’s great news for Nick Spanos, who was invited by CNBC to present his successful story this morning, to viewers around the globe.

Click here to watch the CNBC video interview of Nick Spanos.

So what is it going to be, real estate or virtual real estate? Land that we can walk onto and live on, or domain names that we cannot touch but we can equally develop, monetize and resell? In today’s economy, diversification is the key, and Nick seems to have discovered the best combination, successfully delving in both!