Daniel Gale Sotheby’s International Realty forms commercial division

 

 

 

Cold Spring Harbor, NY Daniel Gale Sotheby’s International Realty, one of the nation’s leading realtors, has formed DGNY Commercial, a commercial real estate entity affiliated with but a separate company from Daniel Gale Sotheby’s International Realty.

DGNY Commercial will be headquartered in the Americana Manhasset shopping center along the North Shore’s Miracle Mile. Daniel Gale Sotheby’s International Realty CEO Deirdre O’Connell discussed the new entity at the organization’s companywide meeting February 5^th at the Huntington Hilton.

Alison Faranello has been named COO, DGNY Commercial. Managing DGNY Commercial with Faranello will be two veteran commercial brokers. John Magnani has been named executive director, DGNY Commercial and Michael Tucker has been named managing director, DGNY Commercial. 

DGNY Commercial launches with a team of 15 commercial real estate advisors who previously had been conducting commercial business out of Daniel Gale Sotheby’s International Realty offices across Long Island.

“DGNY Commercial represents an extraordinary opportunity for us to broaden our impact in this important market,” said O’Connell. “Over the past decade, we have brokered a number of significant commercial transactions in New York City, the Hamptons, and elsewhere on the Island.  It’s time for us to stake an ever greater claim with DGNY Commercial.”

In the last two years, Daniel Gale Sotheby’s International Realty played a leading role in two multi-million dollar commercial transactions in the Hamptons, handling both sides of the transaction in the sales of the iconic Gansett Green Manor in Amagansett ($6.175 million) and the Inn at East Hampton ($5 million).  Further west on the Island, Daniel Gale Sotheby’s International Realty closed a retail shopping center sale in Bethpage ($5.225 million).  

In her previous role as director of corporate development, Faranello had been working on the development and launch of DGNY Commercial for the past year.  She joined Daniel Gale Sotheby’s International Realty five years ago after a career in commercial and investment banking.  Faranello received a B.S.B.A. from Boston University’s Questrom School of Business and her M.B.A. summa cum laude from Fordham University’s Gabelli School of Business.  Her work at Daniel Gale Sotheby’s International Realty has included strategic planning for the organization as a whole, the review of department operational procedures and structures, the identification of growth strategies and the development of corporate partnerships and sponsorships.

Magnani was sales manager of the commercial division under Daniel Gale Sotheby’s International Realty.  He has served as associate board member of CIBS (Commercial Industrial Brokers Society) for the past five years. Magnani was named a CoStar Power Broker for 2012 in Retail Transactions. Among his notable transactions is the conversion of a 50,000 square foot Brooklyn warehouse into a NYC school.  Tucker is a member of Daniel Gale Sotheby’s International Realty’s Sterling Circle of Accomplishment.  He was recognized by Rechler Equity Partners with its R & D Deal of the Year Award for his work on a transaction that was able to repurpose an office building in Hauppauge into a working flex space for his client. Tucker negotiated a 10-year lease with an aggregate rental of over $3 million for 20,000 square feet.  He is a current member of the ESD (Empire State Development) Tradeable Sectors Work Group; an Advisory Board Member of MTRC (Manufacturing and Technology Resource Consortium); President of the Long Island Food Council and a committee member for the Taste of Harvest benefit, Island Harvest.  

“DGNY Commercial is a boutique commercial real estate company that will deliver impactful real estate solutions to our clients. We will be able to expand our commercial service offerings while being able to operate with the same uncompromising standards of professionalism and expertise as our residential entity,” said Faranello.  “Daniel Gale Sotheby’s International Realty real estate advisors will be able to confidently refer their clients to trusted and dedicated colleagues on the commercial side. Our Americana Manhasset location is a high visibility, central location that puts us right in front of our current and future clients.”

DGNY Commercial launches with a team of 15 commercial real estate advisors who previously had been conducting commercial business out of Daniel Gale Sotheby’s International Realty offices across Long Island.