News: Spotlight Content

Consolo of Douglas Elliman Real Estate: Learn your turf

Name: Faith Hope Consolo Title: Chairman, The Retail Group, Douglas Elliman Company Name: Douglas Elliman Real Estate Follow my company on Twitter: @FaithHConsolo What year did you start your career in commercial real estate: 1985 Real Estate Associations/Organizations: * Association of Real Estate Women (AREW), Past President Commercial Real Estate Women's Network (CREW), Director * Commercial Real Estate Women's Network NY Chapter (CREW NY), --- Chairman Emeritus * Greater Harlem Chamber of Commerce, --- Co- Chair, Arts & Culture Committee * Luxury Board's Luxury Institute * The Luxury Marketing Council * International Council of Shopping Centers, Women's Special Industry Program (SIG) -- Founder Member: * Asian Real Estate Association of America (AREAA) * Associated Builders and Owners of Greater New York (ABO-NY) * Association of Real Estate Women (AREW) * Brooklyn Chamber of Commerce * Commercial Real Estate Women's Network (CREW) * Cosmetic Executive Women * Fashion Group International (FGI) * French - American Chamber of Commerce * Germany - US Chamber of Commerce * Greater Harlem Chamber of Commerce * International Council of Shopping Centers (ICSC) * ICSC- RECon Planning Committee * Italy - America Chamber of Commerce * Luxury Marketing Council * Manhattan Chamber of Commerce * NACORE International * National Brokers Network * National Network of Commercial Real Estate Women (NNCREW) * National Realty Club (NRC) * National Retail Federation (NRF) * New Heritage Theatre Group * Queens Chamber of Commerce * Real Estate Board of New York (REBNY) * Retail Marketing Society (RMS) * Royal Institute of Chartered Surveyors * SBS Luxury Retail Network * Society of Industry Leaders (SIL) * The September Concert Foundation * Urban Land Institute (ULI) * Women's Special Industry Group/ICSC National * Young Men's/Women's Real Estate Association of New York, Inc. What recent project or transaction are you most proud of? Actually, there are two recent projects that clearly reflect the diversity and breadth of my client base and its national reach. To begin with, we have finished the first phase of a coast-to-coast expansion of the 'tween girls' brand, Pink Chicken. We started working with them in 2013 with a pop-up shop in Amagansett, which was followed with the lease for a Manhattan flagship on Madison Ave. After which, we found stores for them in Beverly Hills, Hollywood, CA and most recently Charleston, NC. The next phase should be rolling out soon, too. At the same time we were working with this luxury brand, we were completing an extensive project at Hillview Towers in the Sugar Hill section of Harlem, which comprised the revitalization of an entire block-front on West 145th, between St. Nicholas and Edgecombe Ave. and along St. Nicholas Ave. from 145th to 146th Sts. It was a two-year effort that has already had a profound effect on the retail profile of the area. What recent honor, achievement or recognition has meant the most to you and why? I was appointed to the Board of Directors for the New Heritage Theatre Group (NHTG), Harlem's first repertory theatrical association, which celebrated its 50th Anniversary earlier this year. This past spring, I was honored with the Founders' Award by the Quad Preparatory School, an internationally recognized school for children with social learning differences, particularly those on the autism spectrum. Who or what has been the strongest influence on your career and why? There have been so many influential people throughout my life, starting with my grandmother who raised me with a strong work ethic. Over the years, there have been teachers, friends and mentors who have given me invaluable lessons and gifts of time. What is the first thing you do when you arrive in the office in the morning? I continue watching Bloomberg and CNBC, having started first thing in the morning, read the daily newspapers and make overseas calls. What time management strategies do you find to be the most effective for you? Discipline, discipline, discipline! Our business is conducted 24/7 so I make sure to keep on top of new projects, retailers and developments here and abroad, whether retail, real estate, fashion or political. In a perfect world, calls, including overseas, are in the morning and meetings in the afternoon and evening. What is the best advice you have received and who was it from? Learn your turf, i.e., walk around the streets so that you can identify each store and property. Then personally reach out to the landlords and tenants to build the relationships. List three women that you would like to have drinks / dinner with and where would you go? Arianna Huffington at the Four Seasons and Ann Winotur at the Lambs Club and Sheryl Sandberg at Le Bernardin! What is your favorite quote? "It is better to live rich, than die rich!" Samuel Johnson What did you want to be when you grew up? An actress: and here I am working in the New York version of show biz, i.e., real estate!
MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary