It’s hard to find a real estate figure with a better reputation for timing the markets than Sam Zell, the blunt Chicago-based mogul. As reported by Adam Piore on The Real Deal, from January the Zell’s company, Equity Residential shelled out about $12 million for a distressed lot on the corner of 10th Ave and West 23rd Street owned by developer Shaya Boymelgreen, then purchased Harry Macklowe’s last three Manhattan apartment building s for nearly $475 million. The question now is: could Zell’s confidence be contagious? The majority of the analysts say that Zell’s buys will certainly help to establish the value for current assets on market, giving confidence to a market that starts to see some spot hiring.