2015 Year in Review - David Soares

What was your most notable achievement for MBAofNY in 2015? Launching our inaugural real estate symposium was certainly a milestone. It was well attended and we will be hosting it again this year in June. Of course our Wine Gala is always a big NYC real estate event with lenders and other capital sources serving wine to the real estate community, but this year we held it at the NYC Library first the first time and it was a huge success. What market trend or product had a significant impact on your industry in 2015? We have seen a successful establishment of crowdfunding as a viable source of middle market equity. Government has seen fit to not over legislate it, which is a huge endorsement in this post-recession trend of over legislation. The recent wave of bank mergers is also typical of a post-recession “clean up” of our financial system. How will you be supercharging your productivity in 2016? We are a not for profit organization servicing the New York real estate industry with the primary goal of providing education and other productive services to the real estate community, so it would be great to increase our board & committee members to expand and improve on our events and services to our members and New York community.  What emerging trends will drive investment and development in 2016? At this time of year we all wish we had a crystal ball, but clearly the trend of overseas capital is ever present in the NYC market and it is expected to increase over the near future, particularly from the Asian markets. Banks still seem to be lending to only a ‘chosen few’, so the trend of higher leverage private lending for development finance in the middle market is expected to grow. While NYC and related markets have benefitted greatly from overseas investment, the tertiary upstate markets have been supported by aggressive action in Albany to improve infrastructure and support new business and business growth - this trend will only continue and reap rewards for New York businesses and residents.