How has your career path changed in 2022? In November 2021, I went from being a conventional, old school commercial mortgage broker to the founder of a subscriber-based, national proptech platform, currently featuring 30,000 property listings worth approximately $50 billion in sales.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? New Empire Corp. was extremely active over the past year with the recent acquisitions of 58-01 Queens Blvd. in Woodside and Flatbush development sites located at 757-767 Flatbush Ave.
What person, project, transaction or market trend had the greatest impact on your industry this year? An increased number of buyers and renters in NYC want their homes and buildings to support a modern, healthy lifestyle – spaces for exercise, connection to nature, workspace outside of their residence, technologies implemented throughout.
What person, project, transaction or market trend had the greatest impact on your industry this year? I think we can all agree that the greatest impact on our industry in 2022 was the rapid/aggressive rise of interest rates.
What person, project, transaction, or market trend had the greatest impact on your industry this year? As the market shifted due to the pandemic and cutting-edge technologies enabled people to work remotely and efficiently, flexibility became a priority for both individuals and businesses.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? To end the first quarter of 2022, I represented a client in the financing of one of the largest multi-family purchases in Queens since the start of the pandemic.
What person, project, transaction or market trend had the greatest impact on your industry this year? Rising interest rates have impacted our volume as many lenders retain our services when originating refinancing loans with borrowers.
What person, project, transaction, or market trend had the greatest impact on your industry this year? The return to in-person shopping has had the most significant impact on the retail market.
What person, project, transaction or market trend had the greatest impact on your industry this year? The expiration of the 421a tax abatement had the greatest impact on the development sector.
What person, project, transaction or market trend had the greatest impact on your industry this year? Rising interest rates have affected everyone in the real estate industry in 2022.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? As I finish out my first full year as CEO of Eastern Union, the company has experienced significant growth.
What person, project, transaction or market trend had the greatest impact on your industry this year? The New York property tax law firm landscape changed dramatically in 2022 when the decades-long industry leader, Koeppel Martone & Leistman, L.L.C., joined FDT with all of their attorneys, staff and clients.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? Working and collaborating with clients to help them secure the cash flow needed to expand and grow their business by identifying ways for them to save on taxes.
How has your career path changed in 2022? For over 20- years I have practiced civil engineering, working at some of the most notable firms in the industry.
What emerging trends will drive investment and development in 2023? In addition to the increase in some of the local rebates–the Federal Government has also increased the Invest Tax Credit for commercial solar projects from 26% to 30%–compounded by some of the local laws
What person, project, transaction or market trend had the greatest impact on your industry this year? There have been a few trends impacting my firm and our employer clients from a labor and employment perspective
What emerging trends will drive investment and development in 2023? Mavryk Finance is currently developing a block-chain based banking co-op for secured lending and borrowing of digital assets.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? Our most notable project in 2022 was the successful deployment of our Virtual Power Plant (VPP) turnkey solution for Veris Residential.
What was your greatest professional accomplishment or most notable project, deal, or transaction in 2022? Completion of a 45mil elevator modernization project at co-op city.