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Posted: December 26, 2011
Richard Guarino of ERG Property Advisors
What was your greatest professional accomplishment in 2011?
My greatest professional accomplishment in 2011 was the overwhelming success of my growing team. Training an emergent team to work in harmony is often a challenge, but we have brought together a strong group of talented professionals and are now operating like a well-oiled machine.
What was your most notable project, deal or transaction in 2011?
My most notable transaction in 2011 was a defaulted loan sale on a 75,000 s/f mall in Flushing, Queens. The defaulted loan was in excess of $20 million and required extremely fast action on the part of the broker and the purchaser. With everyone acting quickly we were able to finalize the transaction in record time and get the financing in order.
What are your predictions for commercial real estate in 2012?
I predict that the rental market will continue to rise in 2012. Prices will see an uptick and financing will continue to be readily available. We are bracing ourselves for a great year in New York real estate.
What are some of your resolutions for 2012?
In 2012, I resolve to continue to provide great service to our clients and to consistently exceed their expectations. We will continue to strengthen our team and with another great year we are looking forward to expanding again.
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