2015 Year in Review - Ryan Zar

What was your most notable project, deal, transaction or professional achievement in 2015? Our most notable project of 2015 has to be our 3-building Webster Package in Fordham Heights, Bronx. Since purchasing the property in August we have hit every goal in stride by continually turning the property into student housing for the large student community at Fordham University. What real estate project, transaction, market trend or product had a significant impact on your industry in 2015? The 1st thing that comes to mind is the purchase of 2402 3rd avenue and 101 Lincoln Avenue by Somerset and the Chetrit Group. As they plan to construct as many as six residential buildings with art galleries and coffee shops, landlords in the area, including us truly believe that once the shovel goes in the ground our property values will go up 10 percent. Another project that will absolutely impact our industry is Mayor Bloomberg’s PlaNYC 2030 for creating public plazas in the city, particularly in the Bronx. Located at the Heart of the Bronx, Fordham Plaza has enormous potential to become a thriving and vital center for the community. Fordham Road has one of the highest pedestrian volumes in the entire city and this plan seeks to capitalize on that in order to create a vibrant and active public space adding tremendous retail opportunities. How will you be supercharging your productivity in 2016? The way we will be supercharging our productivity in 2016 will be by focusing on doubling our current portfolio and employing a strong and excited staff to help us grow even faster than we are right now. What emerging trends will drive investment and development in 2016? We strongly believe that foreign investors, especially Chinese institutions will be guiding the way for an influx of present and future developments in 2016. China is the big winner in terms of leading foreign investment in New York City. The United States is a very stable environment, has strong currency and probably the most prosperous real estate market. Since 2013, Asian buyers have spent over $200 million on multi - family assets alone in New York. NYC Real Estate will always be the safest bet for foreign investors.