2016 Year in Review: Steven Westreich, Westbridge Realty Group

Steven Westreich, Westbridge Realty Group

Name& Title: Steven Westreich, President

Company: Westbridge Realty Group

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

In 2016 our team closed 50 transactions, about one transaction per week.  Those in the business understand the complexities and nuances that go into closing just one deal, so I am extremely proud of the fact that our team has closed more deals than most “name brand” brokerage firms did this year.

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

 The most discussed market impact is that with the expiration of the 421a, land has been nearly impossible to trade.  The least discussed market trend is that rents are actually going down in many neighborhoods that have recently gentrified; not yet to the point where the economics of a deal completely change, but enough to make seasoned buyers hesitate on deals where a year ago they would have jumped.

How will you be supercharging your productivity in 2017?

We are slowly adding new brokers to our team which I expect will add to productivity as we expand our reach. And we are going to just keep doing what we do, which is trying to be the hardest working, smartest, and most aggressive team out there.

What emerging trends will drive investment and development in 2017? 

I think specifically a resolution on 421a will have the most meaningful impact on 2017 as it has the ability to put so many things in play that have been put on hold.