2016 Year in Review: Jeffrey Schwartzberg, Premier Commercial Real Estate, LLC

Jeff Schwartzberg, Premier Commercial Real Estate

Name & Title: Jeffrey Schwartzberg

Company Name: Premier Commercial Real Estate, LLC

What was your most notable project, deal, transaction or professional achievement in 2016?

Although we are generally known as Long Island’s commercial R/E market experts, this years’ most notable project was the sale of a land parcel in Lower Manhattan. Premier Commercial Real Estate served as the procuring Broker of record and the purchase price was just under $22M. This former TriBeca parking lot property is about to be re-developed into a high end, mixed use residential/retail structure and we are proud to have participated in this unique project

What project, transaction, market trend or product had the greatest impact on your industry this year?

The Brooklyn/Queens Explosion!

How will you be supercharging your productivity in 2017?

We are planning to move into larger quarters and, very selectively, add a few “Commercial Real Estate Market Experts” to handle the strong demand for quality industrial products and local market expertise.

Also, as interest rates are slated to rise in the upcoming year, we will educate our ‘investment and user” customers on the direct impact on property values. 

What emerging trends will drive investment and development in 2017?

The industrial market is strong and continues to strengthen. The previous trend to convert industrial buildings to office buildings is over for the time being. In fact, we are beginning to experience office buildings converting back to industrial buildings, albeit with high ceilings and more functionality.  We believe this trend will continue, as the demand for high cube distribution centers continues to rise and buildings that can satisfy those needs are in very short supply.