Q&A with Moses Sioni of Sioni & Partners

Q: Moses, you launched an investment sales company in the midst of the worst recession since the great depression, why did you do so? A: Well, honestly I think it was the best period to launch my company, and let me tell you why. In a booming market you are too busy making deals, you don't have time to strategize and create a long term plan. Believe it or not I enjoyed working during the recession as I gave a lot of attention to my clients, my brand and my goals. In 2009, we were not only able to survive, but also to profit in one of the quietest years for building sales and investing. We owe everything to those clients who we worked with before launching this firm and with whom we have a long term relationship that is based on trust, respect and loyalty. Q: So what makes Sioni & Partners different from other companies? A: There are some characteristics that make us Sioni & Partners unique. For example, we believe in double specialization. There are companies that specialize in a specific area but do not specialize in a single asset within that area. A piece of land is very different from a rental building, which is different from a loft building. In order to be real specialists we needed to create groups of professionals who specialized both in a specific area and in a single asset type. Another unique aspect to our company is our exposure and access to foreign capital. In fact, I believe we are probably the only investment sales company working exclusively in the middle-market (deals that range from $3 million to $100 million) to have an office overseas. This helped us increase our buyers' base dramatically and achieve prices that we couldn't have achieved if we were relying exclusively on local buyers. Q: Why are you exclusively representing sellers? A: I always thought there was an ethical problem in representing both buyers and sellers. I train my associates to be advisors rather than agents and to have a long term view of this business rather than trying to win the lottery. How could we advise sellers if we work for the buyers, too? Have you ever seen a lawyer representing two parties at the same time? We simply decided that we wanted to work for sellers and defend their interests through exclusive representation. Believe it or not, I have never represented a buyer nor sold a property for a "bargain price." Q: What is your growth plan? A: We are looking to establish ourselves in New York City before taking further steps. Presently, we formed groups for the Manhattan (including upper Manhattan) and the Bronx Markets. Once we grab a significant share of these markets we will expand into Brooklyn and Queens. We are already working on these markets, but only for our long-term clients and we are extremely selective about the kind of product we choose. It has to fit some criteria. Q: Who do you really respect in the real estate community? A: I respect people that didn't rush into deals when the market was hot, but who asked themselves "Is it actually worth the price?" I rarely work with speculators and I really bonded with long term investors who have a long term horizon for their properties. These are the people we do business with, both in good and in bad times. Moses Sioni is the managing director of Sioni & Partners, New York, N.Y.