Pavone named director and Schechtman named principal at Eastern Consolidated

According to Eastern Consolidated, Marion Jones Pavone joined as director and David Schechtman as a principal of the firm. Pavone works with senior director and Schechtman to service lenders, special servicers, owners and buyers alike. Pavone's analytical and investment sales experience coupled with the significant market share that Eastern Consolidated's loan sale and turnaround group has achieved, further strengthens Eastern's investment sales capabilities in this exciting new market. Pavone previously was the founder and principal of New Doric Advisory Services, LLC. Prior to forming New Doric, she was a senior associate at Savills. Prior to that she worked at CB Richard Ellis as a senior associate in the Investment Properties group where she was involved in the marketing of several large-scale multi-family transactions, including The Kings and Queens (LeFrak) portfolio to Urban American, the Kushner portfolio to AIMCO, and Peter Cooper Village/Stuyvesant Town to Tishman Speyer. Her experience in office sales includes the sale of 100 William St. to Mitsui Fudosan and 16 Court St. in Brooklyn to SL Green. Pavone also worked within the Capital Markets group at CBRE, where she helped secure mortgage debt for commercial real estate across the country. Her real estate career began in corporate real estate consulting at CBRE, where she worked with clients such as General Motors, Northrup Grumman, and the State of Texas. Pavone graduated with honors from Tulane University and received her graduate degree from the University of Pennsylvania. She also received a Graduate Certificate in Real Estate from The Wharton School of the University of Pennsylvania. Schechtman previously served as a senior director of the firm. In this leadership role, he joins Eastern's existing group of 12 principals. "We are delighted to welcome David aboard as a principal," said chairman and CEO Peter Hauspurg. "He is driven, dedicated, possesses tremendous interpersonal skills as well as a great work ethic. Since joining Eastern in 2005, he has carved out a niche as a specialist in loan sales and bankruptcies and has been very successful in helping lenders, servicers and buyers determine the value of underlying real estate assets and has handled scores of assignments. David is a team player with natural leadership qualities and an astute legal mind. He will be a great asset to our principals group." He has completed transactions valued at $1.8 billion since his tenure with Eastern began five years ago. He was included in The Commercial Observer's 2010 feature "Ten Brokers To Watch" in 2010; recognized as one of the 25 "Most Visible N.Y.C. Real Estate Players, Post Credit Crunch" in The Real Deal in 2009; and featured as a "Rising Star" in 2006 by Real Estate Weekly. He has been a panelist and speaker at industry events sponsored by a wide variety of prestigious commercial real estate organizations, among them the RealShare Distressed Assets Summit, the Real Estate Lenders Association, the Young Mortgage Bankers Association, and the National Realty Club. His current focus as a member of Eastern's Loan Sales and Turnaround Group is the sale of first mortgages, participations, mezzanine loans, real property and arranging equity placement linked to financial distress or restructuring. He works with lenders' attorneys, trustees, and turnaround advisors in maximizing the value of real property, pre- and post-foreclosure and/or bankruptcy filing. Prior to joining Eastern, Schechtman practiced law for five years in the New York office of DLA Piper, where he represented clients in all phases of commercial and property litigation and bankruptcy. He is a member of REBNY, the Real Property Sections of the New County Lawyers' and the New York State Bar Associations, the Turnaround Management Association, the Mortgage Bankers Association of New York and the New York Institute of Credit. He donates his time to City Harvest and Companions in Courage, both New York-based charities. Marion Jones Pavone, Eastern Consolidated David Schechtman, Eastern Consolidated