Brown of Brown & Altman: Staying active with your relationships

Name: Keith P. Brown, Esq. Title: Managing Attorney Company/Firm: Brown & Altman, LLP Year Founded: 2008 Years in real estate industry: 17 Telephone: (516)222-0222 Email: [email protected] Facebook: Brown & Altman, LLP Real Estate Associations/Affiliations: LIREG, CIBS, CoreNet, ACIT, Huntington Chamber of Commerce, Touro Land Use Institute What are your expectations for the ICSC NY conference this year? If last year was any indication, it should be a productive Conference this year. It will be interesting to see how the move to the Jacob K. Javits Convention Center will affect the Conference. Are investors finding the types of properties that they want right now? We are seeing a lot of in-fill projects and redevelopment projects, as well as fewer new development projects throughout Long Island. Many old automotive uses, such as gas stations and car dealerships are being repurposed into new gas stations/convenience store or other retail uses. Are tenants happy with the sites available to them? Sites - like precious gems - are not that easy to come by, let alone sites that are zoned appropriately for the proposed end user. In the current economic climate, what kinds of deals are out there and who is the typical buyer? Most deals are still long-term ground leases or purchases. With low interest rates, money is still cheap, and allows for greater refinancing opportunities. Consumer? Those companies that survived the recession, the REITs and the ones who did not overleverage themselves before 2008. How does your company use social media? Has social media been a beneficial tool in generating more business? We use traditional methods of finding business contacts, such as electronic newsletters, networking events and luncheons. We don't subscribe to some of the newer electronic formats like Twitter, but we do use Facebook. It's all about following up with people and staying active with your relationships. What trends are you seeing in leasing? We are seeing a lot of health clubs and quick service restaurants all over Long Island. Apparently, lots of people like to eat and then work it off. What challenges can the retail market in New York anticipate in 2015? Continued steady job growth is always important to the real estate market and stability in consumer confidence. Continued access to capital by developers and retailers, with an eye on interest rates as the Federal Reserve has already signaled that rates will be raised in the second half of 2015.