Name & Title: Victor Sozio, Executive Vice President- Investment Sales
Company Name: Ariel Property Advisors
Address: 122 East 42nd Street, Suite 2405, New York, NY 10168
What was your most notable project, deal, transaction or professional achievement in 2017?
I would say my most notable deal in 2017, along with my partners, was the sale of 341-353 West 50th St. in Manhattan for about $113 million. It was fairly complex and took some creative and critical thinking to get through. However, I feel a better professional achievement was a more complex joint-venture we recently closed for a conversion of a large office building in White Plains to residential, as well as a a large ground-up development component.
What was the best decision you made in 2017 and why?
The best decision we made was to get more involved in the equity space, where we have some big-ticket assignments we are working on now, which should be able to build some real momentum for us there.
Who or what contributed to your success in 2017 and why?
I have to give credit to my wife, who always keeps me grounded and makes sure I don’t get too high after the big wins or too low when things don’t work out.
What trends will impact your business in 2018?
I believe there are many inefficient capital stacks that sponsors will have to make decisions on how to address in 2018, whether it be a sale or a recapitalization.