Name: Kyla Gessin-Stern
Company Name: Chatham Development Company and First Dunes
Association/Organization Affiliations (REAL ESTATE ONLY): CREW New York
How do you hold your own in a negotiation?
While conventional wisdom in a “male-dominated” industry like real estate is to “be one of the guys” or “don’t be afraid to speak your mind” I learned a different negotiating skill from working with my father. Listen. Everyone has two ears and one mouth and should use them proportionally. When you understand someone else’s position by listening you are in a better position to find a solution and move negotiations forward.
What recent project or transaction are you most proud of?
At Chatham Development Co. and our Hamptons affiliate First Dunes we look at strategies as opposed to individual deals, and overall market fundamentals help inform what strategy we pursue at any given point in time. I’m very proud of our most recent strategy, which has been to focus on waterfront development in Westhampton Beach and Westhampton Dunes where new supply is limited, construction is challenging and we know the market inside and out. We’re finishing the construction and sales of three homes on Dune Rd. which reflect our evolving aesthetic and design for the modern buyer.
What was one of your biggest accomplishments in the last 12 months?
In the past 12 months we completed sales of our condominium project at 868 Lorimer St. in Greenpoint, Brooklyn and sold our new development home at 102 Dune Rd., both for very strong numbers. Additionally, during this time period we built three ground-up homes and completed three substantial renovations to clients’ houses, all in Westhampton. We firmly believe that by knowing how to spot value on the acquisition and then delivering a premium product that is thoughtfully designed we are able to successfully adapt to any market conditions.