2015 Year in Review - Jeff Schwartzberg

What was your most notable project, deal, transaction or professional achievement in 2015? After forming our company only two years ago, we are most proud of having completed the largest industrial sale transaction in Nassau County as well as the largest industrial sale transaction in Suffolk County. The aggregate value of these two transactions was approximately $23 million and involved 350,000 s/f of buildings.  We are also greatly appreciative of the huge level of support and encouragement that we have received from our customers, our clients and the commercial brokerage community, in general. Our business is heavily dependent upon having up-to-date information, as well as maintaining close and personal relationships with the business community, and that cannot occur without the level of support that we have received. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? The explosion in the Boro’s (primarily Brooklyn and Queens) has had an incredibly significant impact on Long Island’s commercial real estate during this past year. And frankly, we expect that trend to continue as more and more companies are recognizing the fabulous values that still exist on Long Island, when compared to the Boro’s. How will you be supercharging your productivity in 2016? We are always supercharged…24/7…..eager, ready, willing and able to serve our clients and customers. What emerging trends will drive investment and development in 2016? Long Island’s biggest “development” issue is, and has been, lack of land. Warehouses will continue to expand, but vertically, as more and more companies have recognized the value and efficiencies of “high cube” storage. Inventory shortages, in our view, will continue to grow, as more and more industrial buildings will continue to be converted to higher and better uses (retail and possibly residential). Interest rates, of course, have continued to remain at historic lows, but may see modest increases during the upcoming year. That occurance will likely fuel increased demand for purchasing buildings as buyers will look to “jump in” before the rates increase further.