2026 Women in Commercial Real Estate: Jess Cherepski, Merchants Capital

What was the most rewarding project or deal you’ve worked on in the past 12 months, and why? 

Any of the 10+ NYCHA PACT transactions we’ve financed. I grew up in NYCHA housing — mice in my bedroom, peeling paint, elevators that reeked of urine. For years, I was embarrassed by where I grew up and rarely talked about it. Today, I share it because it’s why I’m passionate about this work. NYCHA is home to more than 500,000 New Yorkers — roughly one in every 16 New Yorkers — and public-private partnerships like PACT unlock the capital needed to transform lives and communities. Helping finance the kind of homes I wish I’d grown up in is the most meaningful part of my career.

What advice would you give to the next generation of women entering commercial real estate?

Be scrappy, but pair it with tact and finesse. Take initiative and roll up your sleeves. It’s okay not to have all the answers — a lesson I learned the hard way (blame my tiger mom). Master your craft so your work speaks for itself, and know when to push and when to wait, when to ask for help and when to lead. Technical expertise will earn you a seat at the table, but relationships and sound judgment will shape your career. Build strong partnerships and bring people together to achieve better outcomes. The best results are rarely achieved alone.