One of the first conferences of its kind took place Wednesday, April 3rd at the Race Palace. Three expert panelists joined together to present a rationale to corporate leaders for the process of making a decision whether to buy or lease their corporate real estate. The concept for the conference on buying versus leasing was conceived by David Hunt, president of Hunt Corporate Services, Inc., to bring together specialists for this topic. Steven Elliot Cohen, partner at Franklin, Gringer & Cohen, P.C. and Kevin Leifer, CPA and tax director at Gettry Marcus CPA, P.C. joined Hunt. Collectively, they developed a program that brought the three different disciplines together for the two-hour morning conference.
40 key executives of regional companies accepted an invitation and attended this program where they obtained the information they needed from the three distinct perspectives; accounting, legal and real estate brokerage.
The topics included; discounted cash flow analysis as a tool to analyze the buy-lease decision, why it is often better for fast growing companies to lease and not-for-profits to buy, how privately held companies should hold their real estate, the implications of owning real estate while maximizing deductions, as well as an overview of the Long Island real estate marketplace today.
Guests were given an opportunity to speak with the panel and walk away with a program booklet as a future resource. Mr. Hunt provided the participants with the six basic questions every business must ask before making a buy-lease decision.
"If I decide to buy another building, I now have better information to help me make a more informed decision," said Scott Yanuk, President of Laurel Environmental Associates, LTD. John Sandgren of Keller Sandgren Associates said, "The best was when David spoke about the importance of asking the right questions of the professionals who really know the business." Jeanne Fontana, CEO of Synegy3 said, "This type of forum was extremely informative and enlightened us about the three areas of consideration necessary before making a major decision like this. It was extremely worthwhile."
David Hunt has been involved with the rental, sale, appraisal and construction of industrial and commercial real estate, primarily on Long Island, New York since 1973. Hunt founded Hunt Corporate Services, Inc., in 1981 as an industrial and commercial consulting and brokerage firm, and Hunt Construction Services, Inc., in 2010 to provide construction and maintenance services for New York metro companies. The aggregate value of commercial and industrial properties he has leased or sold in the New York Metro Area exceeds half a billion dollars. The Costar Group and Real Estate Forum Magazine have individually named Mr. Hunt and his firm as Top 20 Power Brokers.
Steven Elliot Cohen has been practicing in the areas of commercial litigation and transactions, matrimonial and family law and real estate litigation and transactions, among other areas, since his graduation from Benjamin N. Cardozo School of Law in 1985. He has successfully litigated cases throughout New York State and has appeared as outside counsel in federal and state courts from coast-to-coast. A public lecturer and a noted expert for local media, Cohen is admitted to practice before New York State courts and the United States Federal Courts for the Eastern and Southern Districts of New York.
Kevin Leifer specializes in the taxation of partnerships and in tax planning for real estate companies. As Tax Director at Gettry Marcus CPA, P.C., Leifer acts as an advisor for both partners and clients. Formerly a Tax Partner with Ernst & Young, Leifer has over 35 years of experience serving real estate owners and developers. He has also spent time working with opportunity funds, the hospitality industry, real estate loan portfolios, REITs, UPREITs cooperative housing corporations, condominiums, and both corporate and institutional real estate.
David Hunt plans to continue developing these conferences, addressing the important issues that will affect commercial real estate in the New York metro market such as; commercial construction, energy issues and the art of negotiating a commercial lease.
Hunt Corporate Services, Inc. specializes in exclusively representing clients for the acquisition or disposition of commercial real estate. Hunt Construction Services, Inc. provides general contracting, construction management and maintenance services for Long Island companies. For further information, contact Christa Cherney at (516)937-1000 or [email protected]. Tags: