Nassimian of Highcap Group promoted to Director of Investment Sales

Highcap Group, a Manhattan based commercial real estate firm, has announced the promotion of their investment sales associate Rodney Nassimian to Director of Investment Sales, effective immediately. 

Nassimian started his career at Highcap Group in 2018 working primarily on value-add multi-family and mixed-use properties in the up-and-coming areas of Brooklyn, with an emphasis on Bushwick and Bedford-Stuyvesant. Over the course of his first few years Nassimian developed a reputation in the neighborhood and client following resulting in significant sales volume and closings as a rookie broker just starting out in the business. He transitioned this momentum into the neighborhood of Astoria where he developed a reputation among building owners as a hard-working broker who was able to achieve top sales prices and CAP Rates for their mostly aging and dated stock of apartment buildings. 

As Nassimian learned the industry and rose in the ranks of investment sales, he broadened his scope of work to development sites and assemblages when the rent stabilization laws changed in 2019. Nassimian started building up listings and buyers throughout the areas of Brooklyn and Astoria, and then he slowly started heading south from Astoria towards the Long Island City area where development sites and condo sales were starting to achieve numbers that were being seen in some areas of Manhattan. Nassimian started emerging himself in the Long Island City development scene, learning who the active players were, and creating inroads with some of the longer-term sellers and holders of prime properties in these residentially zoned areas. 

As a result, to date Nassimian has completed close to $70 million in transaction volume and compiled a significant list of sales, including some prominent development sites and assemblages that he has put together alongside his principals. Some notable sales include the Astoria multifamily package at 44-03 thru 44-11 31st Ave., the 50,000 s/f buildable corner of 46-30 21st St. in Long Island City, the 25,000 s/f development site at 28-12 41st Ave. in Long Island City, and other various Astoria development assemblages including 2-10 to 2-28 26th Ave., totaling +/-60,000 buildable s/f and 42-36 to 42-38 27th St. yielding 33,500 buildable s/f.