Decade Answers: Ron Koenigsberg

Ron Koenigsberg is the president of American Investment Properties, Garden City, N.Y. What was one of your corporate or career highlights of the decade? In 2001, I assembled years of experience and expertise to form AIProps. In the past decade, I have had the great honor of working on several significant deals which summarize my career as a broker. The sale of 330-350 Motor Pwy. in Hauppauge for $22.5 million allowed me to work with some of the most prominent names on Long Island. I broke records with a sales price of $573 per s/f in Cedarhurst. The $9.6 million sale of 1103 Stewart Ave. closed despite a turbulent economy. What are your predictions for commercial real estate in the new decade? Unlike the previous decade, the next 10 years call for less record breaking statistics. Compared with the 5% capitalization rates we've seen, the next 3 or 4 years will see 10-15% capitalization rates. The real estate market will indefinitely witness more stability and normalcy.