Name: Dana Forbes
Company: Daniel Gale Sotheby’s International Realty
What was your most notable project, deal, or transaction in 2019?
Actually, my most notable was a project that wasn’t exactly a transaction but rather a business project focusing on restructuring my personal business plan in the CRE market. In the world of real estate, you can’t use the same model over time and expect to be successful. You really have to shift with the tides and adjust your business focus according to where you see the market trends moving. This year I really spent a lot of time, energy and thought into what approach, goals and sectors I was going to focus on in the next 1-3 years.
What are your predictions for commercial real estate in 2020?
I expect that we will continue to see a decrease in office building production. In the new construction buildings we do see, we should expect more smart buildings and future-ready properties with AI and IoT enabled features being a priority, as well as a higher tenant experience. I also would expect to see a continuation of increased demand for multi-family properties, especially from investors; an increase in senior housing, and an increase in urbanization.
What was your greatest professional accomplishment in 2019?
In March 2019 I was recognized with the “Top Hospitality Sale- Suffolk County” by LIBN for a property my team sold in East Hampton in 2018. It was a complicated property to sell. It had previously been on the market several times, using various agents without success. My team succeeded where others had failed by structuring a creative transaction that satisfied both buyer and seller. There is more than one way to negotiate an acceptable offer. Each transaction is unique and worthy of the best you can bring to it.