What market trend(s) will impact your industry in 2019?
2018 was a great year for experiential retail and as these retailers continue to lease in our markets, technology focused advertising will skyrocket in 2019. We are already seeing cool new advertising trends in commercial real estate tech with…
What was your most notable project, deal, transaction or professional achievement in 2018?
Coming up with the concept of “interactive sponsorship” and implementing it in our “Real Estate Power Program”. I’ve worked with large named real estate companies this year and I’m proud of the pipeline I have going into 2019.
What was your most notable project, deal, transaction or professional achievement in 2018?
The most challenging deal this year involved a project that encountered unexpected environmental issues. We were able to negotiate terms to satisfy the buyer, seller and lenders and to close the transaction in the first half of 2018.
What was your most notable project, deal, transaction or professional achievement in 2018?
I am fearful of heights and this year my office challenged me to rappel down Kodak’s 21 story office building in Rochester’s Central Business District. The fundraising event was successful and I was scared as heck!
What was your most notable project, deal, transaction or professional achievement in 2018?
One of my most notable transactions in 2018 was the closing of a $25 million (80% LTC) construction loan for a 134-unit affordable housing development in the Bronx.
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.
