New York, NY Westbridge Realty Group has hired David Marciano as an investment sales associate.
Prior, Marciano worked at Kassin Sabbagh Realty for seven years, where he spearheaded a large number of complex transactions on a local, as well as national, scale that totaled over $300 million.
Marciano’s marquee transactions included representing PF Holdings in a $90 million portfolio purchase of seven buildings in Indianapolis, totaling 2,517 units. Other notable transactions include the $23 million sale of 722 Metropolitan Ave. in East Williamsburg, and the $12.1 million sale of 714 Ninth Ave. to Hubb NYC.
“We welcome David Marciano to our team,” said Westbridge Realty’s Steven Westreich. “David’s character, energy and business acumen is exactly the caliber of person we want associated with our company. He is persistent yet patient, and is constantly ensuring that his clients’ best interests remain the most important component of the deal.”
Marciano, a native New Yorker, participates in several charitable causes in his community including rabbinical institutes and charities in Israel.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,