
August 08, 2011 -
Front Section
Though raised in a real estate family, James Kinsey didn't initially think that real estate would be his future. He studied music composition in college, but after a brief stint in the music industry, he realized that real estate might be his true passion after all. Within a short time, as he was beginning to explore a career in real estate with guidance from his father and a family friend, his father's death put him directly into the deep end of the family business and the industry. Now, just six years after that fateful event, and with many valuable experiences under his belt, Kinsey is at the helm of ERG Property Advisors, a firm he co-founded with real estate veterans that embodies the greatest lessons he learned from his father as well as those he has gleaned from his own experiences.
His first foray into real estate was with Louis Varone, a family friend who owned a mortgage brokerage business. It whet his appetite for financing and in 2001 he partnered with his father to form Kinsey Capital Associates LLC, a broker specialized in commercial real estate financing in New York City. In 2004, when his father became ill, he stepped in and became president of The Kinsey Corp., a firm founded by his father that focused on property management and development. Then upon his father's death in 2005, when he was just 27 years old, he took on full responsibility for The Kinsey Corp.'s staff and portfolio of 50 buildings. Over the next two years, as Kinsey puts it, "It was sink or swim."
He got invaluable hands-on experience with all of the tough situations that property owners have to deal with. The most memorable day, he said, was the day that one building caught on fire and another had a flood from top to bottom. Experiences like that drove home two points: first, the key to working through even the most difficult situations is the ability to stay calm and focused, and, second, not everyone is able to do that. Kinsey realized that his ability to focus and solve problems made him an invaluable resource for property owners who would rather not deal with the dramas that inevitably arise, but needed someone they could trust.
Not only does he have a talent for staying calm, he seems to actually thrive on keeping many balls in the air simultaneously. Even as he was handling his responsibilities with The Kinsey Corp. and Kinsey Capital Associates, he formed a new firm in 2005, Mason Real Estate LLC. Mason, which offers residential sales and rental brokerage in New York City, enabled Kinsey to expand beyond financing and management of commercial properties and offer an even broader array of resources to clients.
Between 2006 and 2008 he made some difficult choices and gained new experiences that ultimately led to the formation of ERG Property Advisors. In 2006, he decided to close The Kinsey Corp. and take a step back from day-to-day management of Mason Real Estate. He joined Massey Knakal where he oversaw the high-value territory comprised of the East Village, NOHO, and Nolita. Despite this success, by 2008 Kinsey realized he missed having the ability to deliver more comprehensive services and seize upon opportunities to serve more of his clients' real estate needs. He left Massey Knakal in 2008 and set about creating the structures and partnerships that would enable him to do just that.
His first move was the formation of Kinsey Equities LLC to get ready for a marketplace that was beginning to undergo major changes as a result of the economic crisis. Kinsey Equities, which is his current management company, manages properties he owns as well as properties owned by third parties.
Next, in 2009, knowing that he wanted to create a company with the depth and breadth to stand out as a unique resource for clients and a unique opportunity for brokers, he teamed up with a few key people. The first two were James and Richard Guarino. James Guarino, an industry expert with hands on experience in the challenges and opportunities inherent in the full real estate cycle, became not only the chairman of ERG, but also a partner in Mason Real Estate. In addition to bringing over 20 years of industry experience, James Guarino's previously existing companies, JG Capital, a mortgage brokerage firm, and JVG Management, a property management company, provide additional resources for ERG's clients. Richard Guarino, an ambitious and personable broker with over $200 million in sales to his credit, became a partner in ERG and leads a team of salespeople responsible for trading investment property in the Bronx.
Another key addition was Matthew Sparks, a longtime friend of Kinsey's who joined ERG as a partner last year. Over the past 15 years Sparks has developed a reputation in commercial real estate brokerage for his tireless personal canvassing of targeted submarkets and properties, his ability to discreetly identify off-market properties for high-profile clients, and his skillful analysis of the financial angles of prospective deals on behalf of his clients. All of these skill sets go to the heart of what Kinsey sees as ERG's unique set of service offerings. ERG has established a submarket system that delivers great value to clients as well as a significant incentive to brokers, enabling them to become submarket leaders after demonstrating deep area-specific knowledge. In addition, ERG has the capacity, through technology and broker skills, to create marketing campaigns that are either high profile or below the radar, depending on what is in the best interest of the client and the property. On the technology side, ERG has invested serious time and money in the development of their proprietary software system, ERGOS, which puts detailed, comprehensive, and up-to-date information to work for clients.
Partnering with industry veterans James Guarino, Sparks, and Richard Guarino, established ERG on firm ground, and by 2010 the firm, as Kinsey puts it, "really began to hit its stride." His original goal of providing comprehensive services to clients has been realized. ERG is a full-service commercial brokerage company whose core activities include investment sales, retail leasing, and strategic consulting in the broader New York City market. And, beyond core New York City properties, ERG also gives clients access to a vast network of NNN properties throughout the United States.
Kinsey's ongoing goal, one that serves clients and brokers equally well, is for all of his brokers to be offered the tools and mentoring that will enable them to become as successful as the veterans. The real estate industry in New York City is notoriously aggressive, and ERG, like its competitors, seeks out tenacious, ambitious people to become brokers. Where ERG is different is that they believe in investing in new hires with ongoing mentoring and training and they have cultivated an atmosphere of professionalism that is the code of conduct not just with clients, but also with fellow employees.
ERG is indeed a different kind of firm, and much of that is attributable to Kinsey's high standards, leadership in team development, outstanding communication abilities, and diligence in implementing innovative management practices.