News: Spotlight Content

Faith Hope Consolo, Prudential Douglas Elliman

Faith Hope Consolo Chairman Prudential Douglas Elliman Retail Group What was your greatest professional accomplishment in 2010? I launched and served as chairman of a new initiative for ICSC - Special Interest Group roundtables for Women. We held these at various ICSC conferences around the country, recruiting outstanding women in the industry to educate and interact with their colleagues on a variety of topics of concern, from globalization to zoning. We've drawn hundreds of attendees and earned rave reviews, with many women writing ICSC to say it was the most productive part of their conference attendance. This year, we are expanding to more cities and eventually internationally. What was your most notable project/transaction in 2010? There were actually several because we introduced a number of world-renowned companies to the US, including DeLaneau and ToyWatch. But the most notable project this year has to be the national roll-out of Italian children's fashion brands MonnaLisa to boutiques in New York, Chicago and the West Coast, and Miss Grant to Newport Beach, CA, and L.O.L. Kids to West Hollywood. Additional stores will open around the country. How do you contribute to your company and/or the industry? I work with a number of organizations that support the industry, several more specifically supporting women. In addition to chairing the ICSC Special Interest Group initiative, I am on the board of directors of NYCREW, the New York Chapter of the Commercial Real Estate Women's network. I'm also on the Board of Governors of the Associated Builders and Owners of Greater New York, a Past President of the Association of Real Estate Women, and a former board member of the AREW Charitable Fund. I also teach and lecture - at NYU, the City University of New York, and Columbia University. What advice would you give to women just starting out? Don't just sit in your office - get out there and meet people, walk your neighborhoods. Social networking is a great information supplement, but it is a supplement. There is nothing like face-to-face interaction with your tenants, landlords, and neighbors. Use those meetings to learn more about your clients' business and needs - and about your clients, period. Remember that real estate isn't a land business - it's a people business. We are serving a need of some kind, and the better we understand the people behind those needs, the better our business will be. How do you manage the work/life balance? What balance? There is no such thing as a perfect balance in anyone's life. At times, your professional life takes precedence - the downturn meant everyone worked a lot harder. At others, you must focus on concerns closer to home. And never forget to give back - I work with the Capuchin Food Pantries, September Concert Foundation, and currently the American Heart Association, among others. All any of us can do on any particular day is our best at giving our clients, loved ones and occasionally ourselves their due. Is it tiring? Yes. Is it worthwhile? Absolutely. Who or what has been the strongest influence on your career? I have a mentor whose privacy I've always very carefully guarded - but I can say I wouldn't have achieved the success I have today without his advice and guidance. Almost as important now, however, is the influence of helping other women grow. I learn from industry newcomers in a completely different way. Helping them achieve their own success is now a major influence on my own career. What impact has social networking had on your business? We're still experimenting with social networking - certainly PDE's residential side uses it extensively and to great effect. I'm thrilled to announce that I'm now on Twitter --@FaithHConsolo, so look for the latest updates!
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
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
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
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
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”.