Rubin Isak, Rubin & IsakNew York, NY Rubin Isak, founder and president of Goldenwood Property Advisors, Inc. sat down with the New York Real Estate Journal for a Question & Answer session.
Q. What is your full name? Title?
A. Rubin Savi Isakharov. I shorten it to Rubin Isak for business purposes; It’s easier to pronounce for most of my clients. I am the founder and president of building sales firm Goldenwood Property Advisors.
Q. Where were you born? Where did you grow up?
A. I was born in Brooklyn in August 1980. My parents, thankfully doing what a lot of Jews did at the time, immigrated from the former Soviet Union in early 1980. They arrived in New York in May of 1980. After living in Coney Island for a while, we moved into the Pomonok Housing Projects in Flushing, Queens. From there we moved to a great neighborhood in Queens: Forest Hills. I also lived in Briarwood, Queens for a few years. I now live in the Upper East Side of Manhattan with my wife Elvira.
Q. Where did you attend college?
A. I am a product of the public school system and CUNY. I graduated High School from Forest Hills High School in 1998. I then graduated from Queensborough Community College and then went on to graduate from Baruch College with a BBA focusing on International Marketing in 2003.
Q. How did you get started in Real Estate?
A. In 1998, at 18 years old, I got my real estate license and started working for my father’s firm, Clockwise Realty, in Forest Hills, Queens. We focused on selling houses, co-ops, condos and renting apartments.
Rubin Isak at his Studio Square office location, New York, NYQ. When did you switch over to commercial real estate brokerage?
A. Early in 2006, I knew I wanted to switch my focus to commercial real estate, so I went on Google and searched “Top Commercial Real Estate Firms in NYC.” I interviewed at two of the top firms and accepted a position at the number one firm, Massey Knakal Realty Services, as director of sales. I worked out of their Forest Hills, Queens office and my assigned “territory” in Queens was Astoria, Sunnyside and Woodside. The training was second to none. It was a great experience and I made lifelong friends there.
Q. How long did you work at Massey Knakal?
A. I worked there until September of 2008, when me and another director of sales at the firm, John Falco, started our own investment sales firm, Falco & Isak Realty Services. I was involved with over $100 million of sales there. In April 2016, I founded investment sales firm, Goldenwood Property Advisors, Inc., with a focus on the neighborhood system. I always thought the territory system at Massey Knakal was a brilliant way to operate.
Rubin Isak, Upper East Side, Manhattan, New York, NYQ. How did you come up with the name “Goldenwood?”
A. I used my wife Elvira’s maiden name, Goldenberg, as inspiration.
Q. Where do you envision Goldenwood Property Advisors in the near future?
A. Well, I see tremendous smart growth for the firm. We will meticulously execute our business plan, which is to assign top talent to specific neighborhoods, categorically becoming the expert in the area. This will allow us to know what is going on every street in New York City. Who are the buyers in a specific neighborhood? Who are the sellers? What new zoning initiatives are being talked about; what new developments are planned for each neighborhood; what are condo and land prices for each area? Retail, office, industrial and residential leasing rates; capitalization rates/GRM’s/price per s/f; price per unit in that specific neighborhood?
It is irrational to think that a single broker or firm can truly know every block in this city without this platform. Value in every neighborhood is different, actually value on every block is different. Neighborhood expertise will set us apart and assure that our brokers achieve the highest sales price possible for our clients.
We are starting our expansion with Manhattan and Queens and in the near future we plan to move into Brooklyn and the Bronx.
Q. Where do you see this market going?
A. Up. I hear some chatter about a slowdown. What slowdown? Every transaction we see breaks the previous sales record. As long as interest rates are this low and saving is actually costing investors’ money (negative interest rates), prices will continue to rise. Of course it also depends on the area and quality of the asset, among other factors.
Q. What areas are investors looking to invest now?
A. In Manhattan, it’s every neighborhood, any asset class. We see continued interest in certain parts of Queens such as Astoria, Long Island City, Elmhurst & Jackson Heights. There are also mature markets like Forest Hills, Bayside and Flushing that will always have profound interest by investors no matter the property type. The majority of investors are looking at multifamily, retail and development.
Q. Any advice for someone looking to get into the investment property sales business?
A. Perseverance is key. Also, always be honest and ethical. Be kind and work with integrity. This is a long term business, built on reputation. One other thing I would say to someone starting out is, remember, we are essentially in the information business. It really is that simple. Gather all pertinent information you can about the property types and the area you are covering, then offer it to your clients–for free. When they decide it’s time to sell, at the very least they will think of you.
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