NYCREW to participate in Youth Empowerment Mission

On April 23rd, NYCREW Network will implement "DIG This," a one-day program which NYCREW will present, as part of CREW Foundation's "CREW Careers: Building Opportunities" initiative, designed to develop relationships that inspire young women to grow. NYCREW will be participating for the first time in this initiative through a partnership with Youth Empowerment Mission, Inc. (YEM). YEM is a not-for-profit organization based in Bedford-Stuyvesant area of Brooklyn, which focuses on assisting young women who live in high-risk environments marked by poverty, poor health and other environmental hazards who are growing increasingly susceptible to truancy, gang involvement, depression and victimization. Among other things, YEM prepares girls to move from crisis to competency by equipping them with the skills, information, work ethic, experience, and self-confidence needed to become emotionally strong and financially responsible, successful, and empowered future entrepreneurs. YEM is not just providing a place for these girls to go after school, but is dedicated to creating comprehensive long-term solutions for these young people who come from high-risk environments. It is exciting and rewarding to be part of such a worthwhile and effective endeavor." In order to raise funds for the "DIG This" endeavor, on January 10th, NYCREW Network hosted a fabulous wine tasting event, featuring Andrew Harwood, president of NYC Wine Company, and Sommelier Extraordinaire. During the event, in addition to the traditional wine tasting aspects, Harwood injected very interactive and creative elements, engaging all attendees in the pleasure of learning about wines, while allowing them to enjoy the networking aspects of the event and just have fun. Harwood's wine-tasting events have been a favorite of NYCREW members for several years, and we were very grateful for the support of his NYC Wine Company of such a worthwhile event. Both NYC Wine Company and Sonnenschein Nath & Rosenthal LLP, were generous event sponsors. On January 23rd, NYCREW Network kicked off its formal programming for the new year, by holding the first of its 2008 "Industry Spotlight" Series events at the Penn Club, focusing on finance, by presenting "Global Trends in the Real Estate Capital Markets for 2008" featuring Dennis Yeskey, the national director of the real estate capital markets practice for Deloitte & Touche USA LLP. Yeskey spoke about global trends in commercial real estate projected for 2008, which are also featured in Deloitte's annual Global Trends Outlook. This annual market forecast by Yeskey has become a favorite tradition of NYCREW, providing its members with astute observations and emerging trends likely to affect the market for the coming year. Recent events involving the subprime industry, and perceptions of a "credit crunch," have caused many involved in the capital markets to recall earlier recessions, but Yeskey distinguishes the effect of current conditions and fears on the commercial real estate market, because this time around, the CRE markets are not the driving force behind the downturn. Rather, they are being "dragged down from a position of strength," said Yeskey. He also remarked on a number of positive or upbeat market conditions, such as how well opportunity funds and insurance companies are now doing. He also noted that while the hospitality sector overall appears to remain strong, having become a "sexy" favorite of investors over the past few years, there are so many layers and types of hospitality product and structure, that aspects of the industry may begin "moving in different directions." Yeskey's presentation is available on our website, in the calendar section of our programs page. Barbara Champoux is a past president of NYCREW, New York, N.Y.