What was your most notable project, deal, transaction, or professional achievement in 2018?
My team and I financed the purchase of a $130 million, 56-property portfolio across Bayonne and Union City, NJ. The package consisted of multifamily and mixed-use assets and was financed in nine tranches with two lenders to maximize leverage and terms.
What was the best decision that you made in 2018 and how did it impact your business?
The best decision made this year was the establishment of CoRE Consulting with three extremely knowledgeable, professional, and driven engineers.
What was your most notable project, deal, transaction or professional achievement in 2018?
2018 was a good year for Mojo Stumer Associates....
What was your most notable project, deal, transaction or professional achievement in 2018?
Although we did a number of larger transactions, the most notable project/achievement was the building we sold at 229 East 60th Street. The $8,800,000 was within 1% of our asking price, and an incredible premium over market. Comps in the area topped out at around $1,100 per foot. The owner was quite pleased that we were able to sell this at close to $1,600 per foot, over 22 times rent and a 2.7% cap rate.
What market trend(s) will impact your industry in 2019?
The lack of new commercial industrial building space availabilities for lease and sale in the industrial markets will be harmful to businesses and companies that need a variety of sizes to run and grow their operations on Long Island and in the five boroughs.
What was your most notable project, deal, transaction or professional achievement in 2018?
Our firm was retained by a court appointed receiver to market a 27,000 s/f development site in Jamaica, Queens. The site generated interest from prospective bidders from four continents and ultimately sold for $18.45 million.
What was your most notable project, deal, transaction or professional achievement in 2018?
We closed on a very complex agreement representi...
What market trend(s) will impact your industry in 2019?
Opportunity Zones. Opportunity Zones. Opportunity Zones. This new program is more wide-ranging than any previous federal economic development initiative.
What market trend(s) will impact your industry in 2019?
We expect to see a continued increase in the installation and ongoing maintenance of emergency radio communication systems, specifically Auxiliary Radio Communication (ARC) systems in New York City and Bi-Directional Amplification (BDA) systems outside of the five boroughs.
What was your most notable project, deal, transaction or professional achievement in 2018?
We built and leased the first HomeSense–a TJX Company–in New York.
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