Buffalo, NY Ciminelli Real Estate Corp. appointed Mark Matthews as controller. Matthews is responsible for oversight of both property and corporate accounting activities for Ciminelli. His vast experience as a CPA for leading national and international CPA firms, and perspectives gained in various team leadership roles, will help create and deliver efficiencies to enhance the level of service provided to the company’s many clients.
Matthews received both his undergraduate and graduate (MBA) degrees from John Carroll University in University Heights, Ohio. He gained valuable insights and experience from complex real estate transactions he managed during his time at both KPMG, LLC and Ernst & Young, LLP. He is knowledgeable about the Western New York market, but has also provided services for clients in the Northeast, Midwest, and India, and was a resident in London working with Real Estate Investment Trusts (REITS). He is also a member of the New York State Society of Certified Public Accountants (NYSSCPA) and the American Institute of Certified Public Accountants (AICPA).
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,