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Year in Review 2018: Jay Sonhraj, Zara Realty
December 18, 2018
What was the best decision that you made in 2018 and how did it impact your business?
We made a $173 million investment in 15 buildings in Queens to modernize and improve infrastructure and amenities. This includes new boilers and HVAC systems, new elevators, new roofs and facades, new hallways and new kitchens and bathrooms.
Year in Review 2018: Katherine DeMercurio, EverGreene Architectural Arts
December 18, 2018
What was an unexpected event that occurred in 2018, and how did it impact your career or personal life?
Receiving recognition from my peers and industry friends as the Society for Marketing Professional Services (SMPS) first recipient as the Humanitarian of the Year. This award reiterates the value of volunteering that my parents taught me how important it is to give back to the community and the impact a person can make touching other people in need lives in positive ways.
Year in Review 2018: Megan Gillen, Bond, Schoeneck & King PLLC
December 18, 2018
What was an unexpected event that occurred in 2018, and how did it impact your career or personal life?
This year I was involved in eight different residential real estate deals that were part of probate estates. Typically, in any given year there might be one or two such deals, so to have eight was unusual and, as it turns out, very gratifying.
Year in Review 2018: Chintan Trivedi, RE/MAX In The City
December 18, 2018
What was an unexpected event that occurred in 2018, and how did it impact your career or personal life?
Tennis and the tennis center I own in Williamsburg, Brooklyn are my passions. My success in real estate allows me to spend time on what I love. The importance of focusing on the specific needs and dreams of those who work with me was reinforced this year after speaking to a fellow RE/MAX broker from California.
Year in Review 2018: Melissa Guagenti, LEW Corp.
December 18, 2018
What market trend(s) will impact your industry in 2019?
Lead-based paint and lead in drinking water is hot in the press, New NY Mold law in 2019.
Year in Review 2018: Eric Roth, Brick Capital Partners LLC
December 18, 2018
What market trend(s) will impact your industry in 2019?
There is a potential storm brewing – rising interest rates, compressed cap rates and changes to the expiring Rent Laws could lead to a significant increase in mortgage defaults.
Year in Review 2018: Lev Mavashev, Alpha Realty
December 18, 2018
What market trend(s) will impact your industry in 2019?
Another anticipated interest rate hike in 2019 will continue the downward pressure on asset prices. Additionally, the NYS legislature is expected to introduce legislation in mid-2019 that will substantially increase regulations targeting multifamily landlords, lowering the demand for multifamily assets further (especially for rent-stabilized buildings).
Year in Review 2018: Aaron Soury, A Neumann & Associates, LLC
December 18, 2018
What market trend(s) will impact your industry in 2019?
Our company, a professional mergers & acquisitions and business brokerage firm, sees continued growth in our industry for 2019, benefiting buyers and sellers. Currently, interest rates are still low for buyers, and for sellers, there is still currently favorable taxation.
Year in Review 2018: Roxana Girand, Sebastian Capital Inc.
December 18, 2018
What was your most notable project, deal, transaction or professional achievement in 2018?
Marketing the former IBM property in Somers, NY as a school campus opportunity. This was one of those rare occasions where you retrofit a building for a different use that actually lays out very nicely. This site has all the key elements necessary for the conversion to work; it’s spacious, interconnecting buildings, as well as housing and residential life and dorm potential.
Year in Review 2018: Nancy Colella, NYS Sustainable Corp.
December 18, 2018
What was your most notable project, deal, transaction or professional achievement in 2018?
Aligning three commercial owners with renewable conservation measures that made a truly successful impact on their business model and perpetual revenue considerations.
Year in Review 2018: C. Jaye Berger, Law Offices C. Jaye Berger
December 18, 2018
What market trend(s) will impact your industry in 2019?
The real estate market has changed dramatically from years ago when co-ops were what was in vogue in the real estate market and people worried about being approved by the Board of Directors. Nowadays, there are so many condominiums being built that that is a much more common form of ownership with fewer restrictions…
Year in Review 2018: Raymond Mordekhai, Forest Park Properties Inc.
December 18, 2018
What market trend(s) will impact your industry in 2019?
There are two significant issues that will define 2019 for commercial and investment brokers. The first is the ever-changing retail leasing landscape in NYC.
Year in Review 2018: Faith Hope Consolo, Douglas Elliman Real Estate
December 18, 2018
What market trend(s) will impact your industry in 2019?
Food, Fitness and Beauty will continue to be the big three. Online brands will persist in embracing clicks to bricks. Shoppers need a reason to go to the store and brands will continue to up the ante by offering immersive experiences that are exciting and memorable.
Year in Review 2018: Laurence Ross, Highcap Group
December 18, 2018
What market trend(s) will impact your industry in 2019?
I believe the market will continue to move sideways in the foreseeable future as the pricing disconnect continues between buyers and sellers and interest rates continue to rise slightly. Land prices are trending downward which helps draw developers back to the board and acts as an overall springboard for the industry…
Year in Review 2018: Brien McDaniel, FXCollaborative
December 18, 2018
What market trend(s) will impact your industry in 2019?
Over the last few years, social media has positively impacted the AEC industry. However, with all of the online noise, it’s become quite challenging to set your firm apart from the rest. As we enter 2019, establishing a clear identity and brand will be essential if you want to pursue new projects, cultivate new relationships and plan for your firm’s future.
Year in Review 2018: Pierre Debbas, Romer Debbas, LLP
December 18, 2018
What market trend(s) will impact your industry in 2019?
The biggest trend in 2019 will be the use of Qualified Opportunity Zones. This provides a whole new method for investors to defer gains tax and increase interest in real estate investments. The tax advantages from Qualified Opportunity Zones have the potential to have a greater impact on the real estate market than 1031s.
Year in Review 2018: Michael Murphy, Douglas Elliman Real Estate Commercial Services
December 18, 2018
What market trend(s) will impact your industry in 2019?
Being competitive in the world of commercial real estate is challenging. Planning ahead and anticipating what the market has in store is just one way of maintaining a competitive edge. In my humble opinion, the commercial real estate sector has not kept up with the times with respect to digitalization and social media platforms.
Year in Review 2018: Mark Richter, AKF Group
December 18, 2018
What market trend(s) will impact your industry in 2019?
In 2018, there was a resurgence of the economy and that impact has been directly felt in the construction industry. AKF has seen a nice backlog of work for the coming year and we are excited for these opportunities. However, we are beginning to see a slowdown on the multifamily sector, particularly in the condominium development market.
Year in Review 2018: William O’Brien, M.C. O’Brien, Inc.
December 18, 2018
What was the best decision that you made in 2018 and how did it impact your business?
I think, unequivocally, hiring my new partner, Davon Peters, a 10-year veteran of the CRE market in Brooklyn and Queens, who right after joining M.C. O’Brien, Inc., assisted in the disposition of four properties in Brooklyn with an aggregate value of over $36 million.
Year in Review 2018: Alan Hoffman, Janover LLC
December 18, 2018
What was your most notable project, deal, transaction or professional achievement in 2018?
Earning the trust and respect of a new client who repeatedly tells me, “I am so glad that I chose to hire you and your firm as my accountant.”