Eastern Consolidated promotes Miller and Schechtman to executive managing directors

According to Eastern Consolidated president Daun Paris, Alan Miller and David Schechtman, Esq., known widely throughout the real estate industry as outstanding dealmakers, have been promoted to executive managing directors. Both principals of the firm, they were formerly senior directors. "We are delighted to recognize Alan and David with these new well-earned titles," said Paris. "Consummate, results-oriented creative strategists, they each possess an in-depth understanding of the investment sales market, the nature of fluctuating real estate cycles, and how to deliver an exemplary level of service to our clients. We are proud of their achievements, and are pleased they are part of our brokerage team." A veteran real estate professional with 28 years in the business, Miller (49) joined Eastern Consolidated in 1999. He has been involved in more than $1.5 billion in transactions during his 12 years at Eastern, of all product types including the sale of hotels, development sites, residential conversions, commercial loft buildings, parking facilities, outdoor signage, 421-a tax certificates and inclusionary bonus air rights. Among his recent noteworthy transactions are: the $37.9 million sale of 401 West 56th St., a residential building; the $51.5 million sale of 5 Hanover Square, a 330,000 s/f office building; and the $41.1 million sale of 386 Park Ave. South, also a 260,000 s/f office property. In 2008, Miller was honored as Eastern's "Broker of the Year" and in 2001 he was Eastern's "Most Promising Broker of the Year." Earlier in his career he worked with The Carlton Group and prior to that he was with Stonehenge Partners, where he assisted the managing partner in the analysis of potential purchases of investment properties in Manhattan. He is a member of The Real Estate Board of New York, a governor of the National Realty Club, and a member of both YM/WREA and the Urban Land Institute. He graduated from the University of Massachusetts with a degree in economics. Schechtman (37) was named Eastern's "Broker of the Year" in 2011 and "Most Promising Broker" in 2006. During his six-year tenure with Eastern, Schechtman has completed more than $2.4 billion of transactions, most recently in the area of mortgage note sales. His clients include venerable institutions including U.S. Bank, Capital One, The Parkoff Organization and Aion Partners among others. He leads Eastern's Loan Sales and Turnaround Group, focused on the sale of first mortgages, participations, mezzanine loans, real property and equity placement linked to financial distress or restructuring. Among his most recent transactions are the sale of: the parking lot next to Mario Batali's Eataly at 39-41 West 23rd St. for $19.6 million; the residential building at the corner of Broome and Mercer for $17.3 million; the retail and residential buildings which house Nike at 21-27 Mercer St. for $18 million; and 57-63 Greene St. for $17.5 million. Prior to joining Eastern, Mr. Schechtman practiced law with DLA Piper LLP, where he acted on behalf of clients in commercial and property litigation and bankruptcy, negotiating a diverse array of complex settlements on behalf of both major corporations and individual property owners. He is a member of the Real Estate Board of New York, Real Property Sections of the New York County Lawyers' and the New York State Bar Associations, the Turnaround Management Association, the Mortgage Bankers Association of New York and the New York Institute of Credit. He is a graduate of the University of Delaware with a degree in political science, and he earned his Juris Doctor degree Magna Cum Laude from the Benjamin Cardozo School of Law. Both Mr. Miller and Mr. Schechtman are continually sought-after as speakers for industry events and both are frequently quoted in consumer and trade publications including The New York Times, Wall Street Journal, Crain's New York Business, The Real Deal, The Commerical Observer, Real Estate Weekly and Bisnow, among a host of others.