Manhattan, NY According to Francis Greenburger, founder, chairman and CEO of Time Equities Inc. (TEI), Paul Gottsegen has been appointed the firm’s executive asset and acquisitions manager, Canada & U.S. Gottsegen will work alongside senior staff to source new acquisitions and manage existing assets in regional territories throughout Canada and the U.S. within the brand’s growing portfolio. To date, TEI owns 25.4 million s/f of residential, retail, commercial, office and industrial assets in the U.S. and Canada.
Gottsegen comes to TEI following his 16-year tenure at Halstead Management Co., LLC, a New York-based residential and commercial real estate firm, where he served as president and director of management for a decade. In his role, he oversaw the company’s corporate restructuring, helped increase the company’s revenue to $16 million and expanded its portfolio to 23,000 residential units.
Prior to his work with Halstead, he worked with other noted real estate entities such as Douglas Elliman, Insignia Residential Group, and Soren Management Inc., which he founded, overseeing a variety of business management responsibilities, he began his real estate career at Time Equities where he worked with Greenburger from 1979 to 1982.
“Paul is one of the industry’s top talents when it comes to managing corporate business structures and elevating a firm’s overall asset portfolio, which has been clearly evidenced throughout the course of his career,” said Greenburger. “As TEI continues to grow internationally, it is an honor to have Paul join our team. I’m confident in his ability to expand the reach of our brand and continue our mission of acquiring assets that present long-term investment potential.”
In the newly created role, his responsibilities include underwriting, negotiating the acquisition and occasional disposition of identified assets, creating comprehensive business plans, overseeing budgets and lease negotiations, and hiring management and ancillary staff members, among other assigned tasks.
“Re-joining TEI in this capacity is truly a full-circle moment,” he said. “TEI is a first class organization that prides itself on innovation. The company has been a major player in New York City’s real estate scene for the past 50 years, thanks to Francis’ tremendous vision, the firm’s diverse portfolio and commitment to excellence. I’m thrilled to have the opportunity to work with this team almost 35 years later and look forward to being a part of the brand’s continued growth and success.”
A designated Certified Property Manager and licensed real estate broker, Gottsegen was recently honored by the New York Building Managers Association as Manager of the Year in 2017, the Real Estate Board of New York as Management Executive of the year (2009) and the Institute of Real Estate Management as Certified Property Manager of the Year (2007).