2024 Ones to Watch - Innovators in CRE: Thomas Donovan, Meridian Capital Group

Thomas Donovan joined Meridian in 2023 and currently serves as the president of Queens investment sales, where he led a team of four. Donovan specializes in the sale of multifamily, mixed-use, retail, industrial, and development properties throughout New York City.

Prior to joining Meridian, Donovan was a partner and vice chairman at B6 Real Estate Advisors where he was responsible for territory management, business development, real estate advisory services, and sales. Prior to joining B6, he spent four years as vice chairman in the Capital Markets Group of Cushman & Wakefield and 17 years as a partner at Massey Knakal Realty Services.

Over his career, Donovan has sold approximately 700 investment properties for a total dollar volume of $3 billion.

Innovative Outlook: 

Social media outreach provides a new opportunity to access different buyer pools and create a more wide-reaching personal brand. Social media allows me to share deals, information, and market commentary with a wide-reaching audience. I make weekly videos discussing market trends, news, and new deals. This year I conducted a segment called the “30-Second Elevator Pitch” where I asked industry leaders to share their 30-second pitch. I also spend time writing white-paper articles, which are posted to social media to begin dialogues with different types of sellers. 

Artificial intelligence, although in its infant stages now, will also provide a new opportunity for innovation in real estate – as streamlining call processes/priorities, valuing property, and accessing more information overall will become more easily accessible. 

Innovative Solution: 

I have deployed three strategies in the challenging market: I have maintained focus in my core market of Queens, NY. I am targeting not-for-profit and community-use investment sales, and I am working closely with Meridian’s debt team to find owners who are “real sellers.” 

I have specialized in Queens investment sales for 25+ years. In a challenging market, focusing on Queens brings about strong business. 

Not-for-profit assets are generally well-located, with large footprints. Importantly, when such assets are offered to the market, ownership is committed to a disposition. My team has seen success in marketing these assets in the current market.

Opportunistic sellers are not strong in this environment, which has encouraged Tom to work with Meridian’s incredibly strong debt arm to identify “real sellers.” 

“Thomas was one of the first to break into the investment sales market in the outer boroughs, and he has found incredible success in this. He has impacted marketing at our firm this year, by pushing social media initiatives and writing white papers for individual brand promotion and company promotion. Thomas has also fostered strong camaraderie with coworkers at Meridian, because at the end of the day, this business is all about people.” - Avi Weinstock, Executive Vice President at Meridian Capital Group