The Harsh Reality About Construction In New York City

Get the step-by-step guide to valuing NYC properties like a pro: https://the-broker-brunch-1.kit.com/0... How do you build a successful construction business in New York City? Patrick McGowan, founder of McGowan Builders, joins us today on the Broker Brunch podcast to share his journey of growing a construction empire in one of the toughest markets in the world. With over 20 years of experience and a portfolio that includes iconic projects like the Dream Hotel and the Citibank Miami Center, Patrick has seen it all—from the challenges of bidding and project management to navigating the complexities of NYC’s construction landscape. In this episode, we dive into the secrets behind McGowan Builders' success, including the importance of relationships, sticking to your principles, and the power of honesty in business. Patrick also talks about the evolving construction industry, the role of technology like BIM, and the impact of current material shortages. Plus, Patrick shares how McGowan Builders has expanded to Florida, built iconic structures, and given back through the Solace House charity. Tune in to learn from one of the leading figures in NYC construction and get invaluable insights on growing a business from the ground up! Drop a like and subscribe for more expert insights! Connect with Patrick:   / patrick-mcgowan-8431b211   Our Socials: Brian Whelan:   / brian-whelan-43155850   Mitchel Flaherty:   / mitchel-flaherty-7b4b1064   (00:00) Introduction to Patrick McGowan and McGowan Builders (00:43) What is a General Contractor? (02:19)Construction Pricing Trends (05:38) Starting McGowan Builders (07:32) Building Relationships and Securing the First Big Project (11:34) Tackling Projects Like the Dream Hotel (13:14) Revitalizing Historic Buildings: West Elm in Dumbo (15:18) Why You Should Never Bet Against New York (17:03) Office-to-Residential Conversions and Charter Schools (21:11) Changes in Construction Over 45 Years (24:09) Technology’s Role in Modern Construction (28:16) General Contractors vs. Construction Managers (32:58) Expanding to Miami: Challenges and Opportunities (36:29) Mental Health and Solace House Charity (41:02) Balancing Stress and Work-Life Harmony