2021 Year in Review: John Magnani, DGNY Commercial LLC

Name: John Magnani

Job Title: Executive Director

Company Name: DGNY Commercial LLC

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2021?
In 2021, I guided my customers through an unprecedented commercial market as they decided how to proceed with their commercial assets with timely information on what the politicians were pushing, and the legal ramifications and recourse of these actions. I was also able to make recommendations for attorneys, architects, and other professionals. During the pandemic, my experience with building layouts, accessibility, and parking requirements helped clients with information that’s not included in a typical listing. Notable sales included two mixed-use properties: 1388 Old Northern Blvd., Roslyn, an all cash transaction and the pending sale of 22 Bayville Ave., Bayville.

What was the biggest lesson you learned while working during the pandemic?
The biggest lesson was being able to effectively pivot to a virtual work environment. Navigating new technologies to collaborate as a team with fellow brokers, clients, and attorneys in order to support our customers was critical. It was vital to remain connected and to continue to network and collaborate virtually during this unprecedented time to provide seamless service to our clients. Cloud-based video conferencing tools allowed for continuing education classes, opportunities to discuss pandemic-related legal issues including leases, lockdowns, accommodations, and payment options. Adapting to a virtual office environment allowed our team to succeed through the lockdown.

How has your working environment changed over the last year?
Commercial brokers expect to work in the field often and achieve success through networking with other brokers and potential and current clients. 2020 demanded a completely virtual work environment for most of the year, followed by a hybrid model. My home office was my main workspace. In 2021, I spent more time in a traditional office environment. In the last quarter of 2021, DGNY Commercial moved into larger class A office space in Melville. Even as we can go back to the office full-time, we still employ virtual meetings and networking technologies when it makes sense.

What are your predictions for your industry in 2022?
Long Island’s commercial market is poised to rebound stronger than the politically challenged New York City market. Inflation will trend higher but ease later in 2022 as the economy further recovers. Long-term interest rates will remain relatively low, continuing an attractive financing climate. The CRE market is positioned for an active 2022 with higher demand from tenants and investors along all property types. Pent up demand will make Long Island and New Jersey more favorable as business owners who live outside of the city consider commercial property that will bring their work closer to home.

What is the best advice you received in 2021, and who was it from?
This quote from Neale Donald Walsch, “Life begins at the end of your comfort zone.” It reminds me that we have to be adaptable to a new environment, utilize new technology and be very resourceful. I’ve been working diligently with all of my clients to help them adapt to their new business models. For example, restaurants have moved from conventional delivery service to drive-thru and pick-up services. Landlords are requesting searches for internet proof tenants such as food, shoes, jewelry, or gyms. Tenants are requesting ground floor spaces and separate street entrances in case of another pandemic lockdown.