2015 Year in Review - Daniel Lerer

What was your most notable project, deal, transaction or professional achievement in 2015? Our most notable transaction was the successful conclusion and funding of a landmark, art deco, building in Midtown Manhattan. The building is spectacular, and we were very excited to help usher it into the next era. The property’s ownership structure presented some issues in the current regulatory environment; additionally, there was some heavy lease roll. However, through careful planning and restructuring, we overcame these issues to deliver a very aggressive deal. Though I was able to achieve several professional goals this year; I am particularly proud that I was able to help a client dispose of a real estate asset and facilitate a donation to a non-profit that could make better use of the land. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? The Federal Reserve’s “transparency” has engendered an enormous amount of rate volatility in 2015. If the Federal Reserve does raise interest rates in December it could lead to some very interesting outcomes in NYC. What emerging trends will drive investment and development in 2016? Additional capital flight from overseas driven by a strengthening dollar and stronger economy over all.