Selsam of Boston Properties to speak at next YM/WREA luncheon

Speaking coincidentally on the same day (Oct. 9th) that a story broke on the front page of the New York Times' Metro section about the changing nature of his family's business, Harrison LeFrak, managing director of The LeFrak Organization addressed the Young Men's/Women's Real Estate Association. Sharing his outlook for the near term, among other things LeFrak predicted sovereign wealth, the accumulation of wealth in the hands of foreign governments, will drive the investment markets and impact positively the national real estate market, which should improve late February or March 2008. YM/WREA welcomes Robert Selsam, senior vice president and manager of Boston Properties' New York City office to speak at their next luncheon, November 13. Selsam manages the New York Office of Boston Properties, Inc., a New York Stock Exchange publicly traded Real Estate Investment Trust (REIT) with major offices in New York, Boston, San Francisco, and Washington, D.C He oversees all of the company's New York operations, including development, acquisitions, leasing, and management. The company recently completed the 1.2 million s/f Times Sq. Tower and 1.0 million s/f 5 Times Sq. (home of Ernst & Young). In addition to these properties, Boston Properties developed and owns 599 Lexington Ave., and has acquired 399 Park Ave., Citigroup Center, and 280 Park Ave. (recently sold). Selsam has been with Boston Properties in the New York Office for 22 years. He is a governor of the Real Estate Board of New York (REBNY) and chairman of its transportation committee. He also serves as secretary and board member of the New York Building Congress. He is chairman of the board of the Salvadori Center. Selsam is also a trustee of Phipps Houses, a major provider of low and moderate income housing in New York City, and chairman of its Real Estate Committee. Selsam is the 2006 recipient of the George A. Fox Humanitarian Award from the New York Building Congress. Selsam is a graduate of the University of Pennsylvania, with a major in Eeconomics, and holds a masters degree in Urban Planning from the Columbia University School of Architecture.