News:
Spotlight Content
Posted: November 22, 2022
Ones to Watch Fall 2022: James Nestor, Ariel Property Advisors
Associate Director - Investment Sales
Ariel Property Advisors
What recent project, transaction or accomplishment are you most proud of?
Our team sold a Northern Manhattan development site offering 145,918 buildable s/f. It was rewarding to see this deal close for $12 million because the site had a complex history and had been vacant since 2008 when plans for a residential development collapsed because of the financial crisis.
Tell us about a mentor or role model that has influenced your career choices?
My father sometimes worked seven days a week in construction and has always enjoyed what he does. He instilled a strong work ethic and love of CRE in me. Therefore, I enjoy going to work every day, embracing the challenges and creative thinking when marketing properties and closing deals.
What 3 skills do you consider the most important to be successful in your industry?
In the commercial brokerage industry, the most important skills are resilience & persistence, especially when you’re getting started as an investment sales broker. Additionally, being a good listener and taking an honest approach to advising clients and the people you work with will always benefit you long term.
What is one lesson that you had to learn the hard way?
Close to closing, one of my first deals fell through. It was discouraging, but rather than feel sorry for myself, I regrouped with the client and our team arranged a deal with another buyer. It taught me never to give up and that a deal isn’t done until it closes.
What do you enjoy doing when you are not working?
I enjoy spending time with my family, which includes two sons–a two year old and a newborn. I also like to unplug some weekends at my family’s home in the Catskills as well as hike, ski and play golf.
Tags:
Spotlight Content
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
.png)
Quick Hits
.jpg)
Columns and Thought Leadership
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
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
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”.
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
.gif)