Massey Knakal Multifamily Summit

Presented by
GreenPearl Events
Massey Knakal
Multifamily Summit
November 16, 2011
McGraw-Hill Conference Center
New York City
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Dear colleagues and friends,
It is my pleasure to welcome you to the 2nd Annual Massey
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Knakal Multifamily Summit.
Over 600 have gathered to learn about and discuss the
acquisition, disposition, financing and management of NYC
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This summit will have a special emphasis on the political
CCIM REAL REAL
ESTATE FORECAST
2012
COMMERCIAL
THE BROOKLYN
ESTATE
SUMMIT:
REAL
ESTATE
SUMMIT
New York City Bar Association
BEYOND DISTRESS
environment, trends in rents and operations, as well as a
MIDWEST
discussion of cap rates, financing and interest rates.
Chicago – May 12
area multifamily properties in today’s changing market.
New York City – January 26th
NEW YORK CITY
June 16
REAL ESTATE WEEKLY'S
WOMEN’S FORUM
CMBS 2.0 -
NEW YORK
We have assembled panels comprised of some of the
finest in the industry, and we are delighted to have Bruce
New York City – September 22
McGraw Hill Conference Center REAL ESTATE
ASSET
New York City – February 15th SECURITIZATION
Richard Mack, Chief Executive Officer, AREA Property
IREM NYC ASSET
FORUM
MANAGEMENT
IREM ASSET MANAGEMENT
SYMPOSIUM
SYMPOSIUM
NEW YORK CITY
Partners as our morning and afternoon keynote speakers.
McGraw
HillCITY
Conference
NEW
YORK
Beal, Executive Vice President, Related Companies and
Working under the Massey Knakal Territory System™, we
March
24
New York
Center October 27
City – March 21st
MASSEYKNAKAL
KNAKAL
MASSEY
CRE
INVESTMENT
SUMMIT
COMMERCIAL
REAL
MULTIFAMILY SUMMIT
multifaceted. I hope we can learn from each other to
CHICAGO
ESTATE
INVESTMENT
SUMMITSeptember 15
NEW
YORK CITY
emerge from the economic crisis with an even stronger
May 19
recognize that the NYC multifamily market is one that is
commercial real estate market.
New York City Bar Association
New York City – April 26th
NEW YORK CITY
November 16
MORE INFORMATION ABOUT GREENPEARL EVENTS
Very Truly Yours,

THE BROOKLYN REAL ESTATE SUMMIT
Events are continuously added, so please check back to
St. Francis College
www.greenpearlevents.com
for updates and a full list of
BrooklynEarly
– June
programs.
bird14th
and group discounts are available.
Visit www.greenpearlevents.com for pricing and registration
REGISTER EARLY
deadlines. Register early and you can save up to $300 off
With
early
andevent.
group rates, you can save up to
the
cost
of abird
single
$300 off the cost of a single event.
Paul Massey
Chief Executive Officer, Founding Partner
Massey Knakal Realty Services
NYC's #1 Building Sales Firm
EVENTS ARE CONTINUOUSLY ADDED
SPONSORSHIP,
SPEAKING AND EVENT INQUIRIES
Please visit www.greenpearl.com for
Please
contact
[email protected]
or
a full list
of programs,
updates, and to register.
(646) 862-6136 x2.
SPONSORSHIP, SPEAKING AND EVENT INQUIRIES
Please contact [email protected] or
(646) 862-6136.
Welcome to MASSEY KNAKEL MULTIFAMILY SUMMIT
2
INSURENT GUARANTY
INCREASES PROFITS...
AT NO COST TO THE OWNER!
1. Reduces vacancies
2. Closes leases that you wouldn’t have closed
3. Eliminates all rent loss
4. Drives additional creditworthy renters to your buildings
5. Closes leases faster
6. Removes all financial and credit risk on new tenants
7. Shortens lease-up period for new buildings
8. No change to your existing procedures
Accepted by over 1,100 buildings representing over 135,000 apartments, the Insurent Lease
Guaranty Program provides owners with a superior alternative for creditworthy renters
when a co-signer/guarantor, additional security or prepaid rent is required of the renter.
Whoever said there are no guarantees in life never called us.
For more info, visit www.insurent.com or call (646) 843-1712.
The Institutional Guarantor of Residential Leases
CORPO-WRIT MEDIA / 732.901.0617
With today’s energy prices, your boiler can’t afford
to be without the EnTech VR-500™ this heating season.
And with EnTech’s no-risk Energy Savings Guarantee, there’s never
been a better time to consider a VR-500 for every property in your portfolio.
Discover why EnTech’s industry-leading technology has been voted #1
by leading property owners,boiler technicians, and major energy suppliers.
Call today for a free on-site evaluation!
LIGHT YEARS AHEAD OF THE INDUSTRY
™
732.730.1595 | [email protected] | www.entechdigital.com
E
PERTISE
Real Estate is about more than steel and glass. It’s
about a myriad of timely business decisions
essential to maximizing the return on your
properties. That’s why you need an accounting
firm with real expertise. For over 85 years Friedman
LLP has successfully guided our clients through
the financial complexities of the ever-changing
market, and helped them recognize and take
advantage of every opportunity along the way.
So when your real estate business needs
expertise, build a relationship with Friedman.
FRIEDMAN – THE NAME YOU SHOULD KNOW.®
NEW YORK | NEW JERSEY | LONG ISLAND | BEIJING
Fred Berk, CPA, Partner
Real Estate Group
Tel: 212-842-7000
[email protected]
Steven Barranca, CPA, Principal
Tel: 212-842-7575
[email protected]
© 2011 Friedman LLP. All rights reserved. An Independent Member Firm of DFK with Offices Worldwide
McGRAW-HILL
Conference Center
AGENDA AT A GLANCE
7:30AM - Registration and Breakfast in Exhibit Hall
8:00AM - Opening Remarks & NYC Multifamily Market Update 쩦
8:30AM - Interview with Special Guest, Bruce Beal, Related Companies 쩦
9:00AM - Affordable Housing: The Low Income Housing Market 쩦
10:00AM - Networking Break and Refreshments in Exhibit Hall
10:30AM - CONCURRENT SESSION (choose one)
Multifamily Financing: Cap Rates vs. Interest Rates 쩦
ROOM
204
ROOM
205
ROOM
206
ROOM
207
ROOM
209
ROOM
208
Innovations in Management: Generating Cash-Flow 쩦
Online Marketing to Renters 쩦
11:30AM - CONCURRENT SESSION (choose one)
New Development Showdown: Rentals vs. Condos 쩦
Multifamily Energy Management: Optimizing Benchmarking Data 쩦
REGISTRATION
ESCALATORS
FLOOR
PLAN
Albany and the City 2011:
Rent-Stabilization and the Politics of Real Estate 쩦
AUDITORIUM
12:30PM - Networking Luncheon in Exhibit Hall
1:00PM - Working Luncheon: Cash Management Secrets for Building Owners and Managers 쩦
EXHIBIT HALL
1:30PM - CONCURRENT SESSION (choose one)
Owners Roundtable 쩦
Transaction Financing Strategies: 1031 Exchanges 쩦
2:45PM - Repositioning Multifamily Assets: Renovation, Redevelopment & Conversions 쩦
3:45PM - Keynote Interview with AREA Property’s Richard Mack 쩦
Second Floor
4:30PM - Networking Cocktail Reception in Exhibit Hall
sponsorship & exhibit
opportunities
Sponsorships and exhibits are excellent opportunities for your company to showcase its products
and services to high-level, targeted decision makers. It helps companies like yours achieve important
sales, marketing and branding objectives by setting aside a limited number of event sponsorships and
exhibit spaces - all of which are tailored to assist your organization in creating a platform to maximize
its exposure at the event.
UPCOMING 2012 GREENPEARL EVENTS
CCIM REAL ESTATE FORECAST 2012
NEW YORK CITY BAR ASSOCIATION
NEW YORK CITY
JANUARY 26TH
REAL ESTATE WEEKLY'S WOMEN'S FORUM
MCGRAW HILL CONFERENCE CENTER
NEW YORK CITY
FEBRUARY 15TH
MASSEY KNAKAL COMMERCIAL REAL ESTATE INVESTMENT SUMMIT
NEW YORK CITY BAR ASSOCIATION
NEW YORK CITY
APRIL 26TH
IREM ASSET MANAGEMENT SYMPOSIUM
MCGRAW HILL CONFERENCE CENTER
NEW YORK CITY
MARCH 21ST
THE BROOKLYN REAL ESTATE SUMMIT
ST. FRANCIS COLLEGE
BROOKLYN
JUNE 14TH
For more information on sponsoring or exhibiting, please contact Abel Devis at 646-862-9391 or [email protected].
Visit us on the web at www.greenpearl.com.
Thank You to Our Summit Sponsors
Massey Knakal is the New York metropolitan area's premier full service sales company, specializing in the
sale of investment and user properties. With over 100 employees, four offices and thorough coverage of
the five boroughs of New York City, Westchester County, Long Island and New Jersey, Massey Knakal Realty Services dominates the New York metropolitan area's building sales marketplace. For over two
decades, Massey Knakal has focused exclusively on the New York metropolitan area, building strong relationships within the neighborhoods we represent and developing an extensive database of customers that includes all of the
major investors, institutions, agencies and individuals that are active in real estate in the area. Our dedication to neighborhood
knowledge and relationship building is a source of continuing pride and success for Massey Knakal, and through our Territory
SystemT, our agents have partnered with sellers throughout the city to close over 2,000 transactions, with an aggregate value of
approximately $10 billion since 2001. Massey Knakal handles many different property types, including commercial buildings,
apartment buildings, townhouses, mixed use investment building, mixed use user buildings, live plus income buildings, industrial properties and development/conversion sites. Our agents are experienced in representing properties of all values, from
$500,000 properties to portfolios exceeding $100 million. To learn more about the people behind Massey Knakal, meet our Executive Team. To find the Agent that's right for you, browse our Neighborhood pages.
www.masseyknakal.com
Bargold Storage Systems custom builds and installs
your Tenant Storage System at No Cost To You!
We market your Storage System to building residents
and give you 25% of the gross monthly rental
income. We handle all administration services including: tenant rental agreements and monthly billing and collections. We maintain your storage system
including general upkeep and repairs done at no expense to you, and always
provides professional and friendly customer service. It's a win-win situation.
www.bargoldstorage.net
Consider Citibank's Financial Intermediaries Group.
Firms that manage 'other peoples' money'-such as title insurance companies, investment
money managers, commercial real estate companies--need bankers
with specialized industry knowledge. Our dedicated group of financial
intermediary professionals use a consultative approach and their
particular expertise to provide their clients with customer-centric
banking solutions.
www.online.citibank.com
BRT Realty Trust is a publicly traded (NYSE: BRT) direct
short-term commercial lender with over thirty five years of
experience originating first mortgage loans nationwide.
BRT is recognized as a national leader in creative short-term
financing solutions throughout the commercial real estate industry.
We closed over $110MM in the first half of 2011. Our primary focus is
on loans that need immediate financing where borrowers have the
opportunity to acquire commercial real estate, repurchase debt from a
current lender, purchase third party performing or non-performing
notes, and refinance current debt.
www.brtrealty.com
Belkin Burden Wenig & Goldman, LLP, established in 1989, is a
law firm concentrating on real estate issues, disputes and problem
solving. Our areas of practice include, but are not limited to, Landlord/Tenant Disputes, Leasing, Co-op and Condo Disputes, Commercial Disputes, Co-op and Condo Conversions, Real Estate
Transactions/Financing, Mortgage Foreclosures, Land Use and Zoning, Administrative Proceedings, and Bankruptcy and Creditors' Rights. Our clients include
many of New York's most prominent owners, developers, sponsors, management companies and lenders. We can be contacted at (212) 867-4466 or
through our website at www.bbwg.com.
www.bbwg.com
Capital One is a diversified bank that offers a
broad array of financial products and services to
consumer, small businesses and commercial
clients. A Fortune 500 company, Capital One has one of the most widely
recognized brands in America and is one of the nation's top 10 largest banks
based on deposits. Most recently, Capital One has organized a group to lend
to multifamily owners and investors, with a specific focus on the New York
tri-state market. To reach Capital One's multifamily lending group, contact
Christie Keel at (631) 531-2114.
www.capitalone.com
For more than 180 years, Con Edison has been supplying the energy that powers New York. Con Edison—
one of the nation’s largest investor-owned energy
companies, with approximately $13 billion in annual revenue, and $36 billion
in assets—provides electric service in New York, and most of Westchester
County. Con Edison also owns and operates the world’s largest district steam
system, providing steam service in most of Manhattan. Con Edison is
committed to supporting New York State’s competitive energy market.
Through its PowerYourWay program, the company encourages customers
to learn about other electric and natural gas companies — known as energy
services companies (ESCOs) — and to compare the pricing options and
services that they offer.
www.coned.com/energyefficiency
Commercial & Industrial
Energy Efficiency
7
Thank You to Our Summit Sponsors and Partners
As the Nation's #1 multi-family lender, Chase strives to
provide our commercial clients the best financing
solutions when purchasing or refinancing stabilized apartment buildings.
•Term financing from $500,000 to $10 million
•An array of fixed and adjustable rate loan programs
•Competitive pricing and low fees
•Streamlined and standardized documentation
•Fast, efficient loan processing
•Excellent customer service provided by seasoned professionals
www.chase.com/online/commercial-bank/solutions-ctl-multifamily.htm
Our Global Real Estate Group
consists of 56 lawyers across
our network of offices, including 28 in New York. Dewey & LeBoeuf is one of a few
global firms to combine major real estate disciplines, including: construction and
development, complex real estate negotiation and transaction structuring,
finance, tax and environmental. We have represented the owners of several
hundred shopping centers, office buildings, apartment complexes, hotels, resorts,
recreational, cultural, healthcare facilities, and industrial and manufacturing
facilities throughout the United States and abroad. Our diversified real estate
experience enables the group to handle virtually any real estate-related matter,
including the completion of properties having financial difficulties during
construction, the unwinding of complex structured financing transactions
and the restructuring of properties with multiple levels of debt.
www.deweyleboeuf.com
TOWN Residential is a Manhattan-based real estate services firm specializing in luxury sales, new development marketing and rentals. TOWN's business philosophy is based on an unwavering commitment to providing the most exceptional services and impactful resources to both our clients and our
representatives. This includes a focus on providing preeminent marketing, training and the most advanced technology programs
in the industry, as well as additional services which allow TOWN to operate as a fully-integrated real estate services firm.
www.townrealestate.com
For over thirteen years now, the EnTech corporation
has stood at the forefront of the electronic boiler
control revolution. EnTech was founded by a team
of expert boiler technicians and veteran software developers, whose years
of experience and combined expertise in both fields have put them on the
cutting edge of computerized control technology development. Most of all,
our overriding commitment to our clients, well beyond the point of sale, has
made EnTech the #1 preferred choice among leading real estate holders
from across the entire spectrum. While insuring maximum efficiency the
Virtual Remote-500 increases tenant satisfaction by providing a uniform
interior temperature. Its precise digital technology provides accurate,
up-to-the-minute readings and comprehensive historical data.
www.entechboiler.com
Friedman LLP has been serving the
accounting, tax and business consulting
needs of public and private companies
since 1924. Our industry-focused practice features concentrated areas of
expertise and understanding of the economic environment. We have the
ability to be innovative in our approach, act quickly in our decision-making and
be flexible in our delivery of services. Our clients benefit from hands-on contact
with our partners, cutting-edge technical expertise and our understanding of
their industry and their business. Our clients have the advantage of working
with a mid-size accounting firm that combines the staff and resources of a
large firm with a philosophy of personal responsibility for our clients. Please
also visit our practice and service areas to learn more about our firm.
www.friedmanllp.com
Real estate lending has been Greystone Servicing Corporation,
Inc.'s ("GSC") core business for nearly two decades. From our
roots as a workout specialist for distressed FHA loans, we have
continuously expanded our capabilities to become a full-service
multifamily housing and healthcare facility lender. We work with
both large and small clients, on transactions of all sizes and degrees of
complexity. Our national team of professionals-including the largest group of
FHA loan underwriters in the country-has built strong, collaborative
relationships with Fannie Mae and the United States Department of Housing
and Urban Development (HUD), enabling us to move quickly to help clients
capture investment opportunities and avoid costly missteps and delays.
www.greystoneusa.com
The Insurent Lease Guaranty Program was created to assist
landlords, condo/co-op owners, renters and brokers in closing
residential leases. Its role as the "institutional Mommy and
Daddy" allows thousands of leases to quickly and easily close
to the benefit of all parties that otherwise would not have closed without Insurent.
For owners, the benefits of Insurent include increasing cash flow and closing many
more leases quickly for no cost and with no risk. Some of the types of leases that
Insurent helps to close include foreigners with no U.S. credit, foreign and domestic
students, retirees, self-employed people, wealthy people who are out of the
workforce, and those with good credit but a little short on income.
Please email cschoenau@insurent or call 646-843-1713 to learn more.
www.insurent.com
New York State Energy Research and Development
Authority (NYSERDA) is a public benefit corporation.
NYSERDA’s aim is to help New York meet its energy
goals: reducing energy consumption, promoting the use of renewable energy
sources, and protecting the environment. NYSERDA administers the Multifamily
Performance Program (MPP) to help owners and developers make their buildings more energy efficient and more comfortable! Visit our table at the Massey
Knakal Multifamily Summit to learn more about how you can save money
through retrofit and get the government to subsidize the work.
www.getenergysmart.org/MultiFamilyHomes
Hudson Realty Capital LLC (Hudson) is a real estate
fund manager with more than $2 billion of assets
currently under management. Since the formation
of its initial two funds in 2003, the company has closed over $3 billion in
transactions. Activities include originating, participating in, servicing,
restructuring and/or acquiring high-yield, special situation debt and
mezzanine loans. In addition, the company invests directly in real estate
and the acquisition of under-performing real estate assets and other
real estate-related instruments.
www.hudsonrealtycapital.com
Margolin, Winer & Evens LLP is one of the
largest accounting and business advisory
firms in the Northeast. Since 1946, MWE has
provided expert advice to a cross-section of
the real estate industry, including developers,
owners and operators of commercial, industrial, retail and residential
properties, as well as financial institutions and individual investors. Our
expertise covers a wide range of applications from rental and mixed-use
facilities to cooperatives, condominiums, community developments, hospitality,
recreational and special purpose facilities. MWE's leadership in providing
services to the real estate industry is based on a conviction that we serve a
dual role as accountants and business and financial advisors. Our goal is
to assist clients in structuring sound real estate transactions, as well as
developing effective tax and finance strategies that address their overall
business and financial objectives.
www.mwellp.com
The brokerage formed by the merger of
The Developers Group and The Real Estate Group
in 2009 is rebranding itself with a new name - MNS,
which stands for 'marketing and sales.' MNS will
open its second Manhattan office at 189 Eighth Avenue in Chelsea on June 1.
The expansion will bring the three-office brokerage to a sales force of over
125 agents focusing on new developments, resale and rentals. The company's
third office is located on Bedford Avenue in Williamsburg, Brooklyn.
MNS currently represents over $1 billion in exclusive listings comprising
over 1,000 apartment units in Manhattan, Brooklyn and Queens. The firm
is reporting remarkable sales activity at the city's two largest condominium
communities - The Edge in Williamsburg and One Brooklyn Bridge Park in
Brooklyn Heights. MNS is also instituting VOW, or Virtual Office Website,
which will enable customers and agents to search all of the industry's
listings provided directly by REBNY.
www.mns.com
Thank You to Our Summit Summit Sponsors and Partners
8
Founded in 1991, Meridian Capital Group,
LLC is one of the nation's largest commercial real estate finance and advisory firms.
Meridian has arranged more than $120 billion of commercial real estate debt,
including more than 27,500 transactions in 42 states. The firm is headquartered in New York with offices in New Jersey, Maryland, Illinois, Florida and California. Working with a broad array of capital providers, Meridian arranges
financing for transactions ranging from $500,000 to more than $500 million
for multifamily, co-op, office, retail, hotel, mixed-use, industrial, healthcare, student housing, self-storage and construction
properties.www.meridiancapital.com.
www.meridiancapital.com/
With experience that spans a vast
variety of deals and property types, the
lawyers inNixon Peabody's Real Estate
practice quickly comprehend client goals and work to meet them with speed,
creativity, and efficiency. The firm has more than 100 attorneys with deep
experience in virtually all matters related to real estate acquisition,
development, and financing, so there is never a shortage of the know-how
needed to address issues, resolve them, and get the job done. We have fullservice capabilities, so can assist clients with every detail at every stage of a
real estate transaction. Consider our practice a comprehensive resource for
counsel on: Development, Acquisitions, Financing, Investment management
and asset recovery, Permitting, Leasing, Dispositions and workouts.
www.nixonpeabody.com
Reach rental tenants using multichannel marketing.
Whether your target audience uses laptops or PDAs,
reads blogs or Kindles, you must have the know how to
deliver the right message at the right time. The professionals at Online
Marketing Groupknow the most effective ways to reach potential tenants at
work or play. We transform your sales & marketing goals into online strategies
& tactics that work. Search Engine strategies, affiliate marketing, website
development and online advertising campaigns. These are just a few of the
areas we can help you with. In a world where change is the only constant, you
need the guidance of professionals who understand how the online world
affects the offline. Online Marketing Group provides a complete suite of services
to help clients make the most of online opportunities - wherever they are.
www.onlinemarketinggrp.com
The Rent Stabilization Association of N.Y.C., Inc. (RSA) is the
largest real estate industry trade association in New York
representing 25,000 property owners/agents responsible for
approximately one million units of housing. RSA's members range from owners
of one small building to large multi-family complexes, cooperatives &
condominiums. Our broad representation has allowed the RSA to develop a
powerful base for our lobbying programs and the resources to provide a wide
assortment of products and services to our members. Our members rely on
the RSA to effectively manage their buildings and protect their property
rights in the most challenging rental environment in the country.
www.rsanyc.com
REM Residential is one of New York’s preeminent real estate
management companies, with a focus on managing rental
buildings for investors. At REM, we adhere to a set of core values that form the cornerstone of our reputation: accountability, integrity and an “old school” work ethic that commits us to delivering on
every client obligation in a professional and timely fashion. Accountability is a
term that is all too often overlooked by our competitors in the industry. We
firmly believe that we are accountable for the management of your asset. We
accomplish this accountability through various means of communication. We
believe in providing our clients with comprehensive details, updates and status
reports. We are passionate about the buildings we manage and we are confident no company can match our attentiveness or the level of experience we
bring to every facet of managing your building. We are known for our long term
client relationships and our hands-on approach to building management.
www.remny.com
9
Thank You to Our Summit Sponsors and Partners
Laundry rooms provide a valuable amenity to residents
and steady revenue to property owners. SDi will install
rooms with one washer and dryer or dozens of machines,
often at no cost to the property owner. Our Cyberserve system eliminates cash,
improving security and reducing labor costs. Our award-winning laundry rooms
are in thousands of buildings throughout the Metro area. Family owned and
operated since 1952, SDi boasts instant refunds, 24/7 service, and
timely payments to property managers to help keep budgets on track.
That’s why 95 percent of our business comes from referrals, and over
90 percent of our customers renew their contracts.
www.sdilaundrysolutions.com
RealPage provides a platform of on-demand
software solutions that integrates and streamlines
rental property management business functions.
Our solutions enable owners and managers of single-family and a wide variety
of multi-family rental property types, including conventional, affordable,
privatized military, student and senior housing, to manage their marketing,
pricing, screening, leasing, accounting, purchasing and other property
operations. Our solutions enable property owners and managers
to increase revenues and reduce operating costs through higher
occupancy, improved pricing methodologies, new sources of revenue
from ancillary services, improved collections and more integrated
and centralized business processes. For more information,
visit www.realpage.com.
www.realpage.com
Quality Conservation Services is an award-winning,
nationwide energy services company with core
competencies in weatherization, lighting and custom
energy retrofits serving the residential, commercial and industrial markets. As a residential and commercial energy efficiency contractor
both independently and authorized by major utility companies across the
country, QCS is the largest and most experienced provider of energy
services to the multi-family residential market. A national leader in
energy conservation programs, QCS' energy management professionals
with 25 years of experience have designed and implemented solutions
for demand-side management energy reduction programs to various
business segments. In the tri-state area, QCS is employing its GreenSmart
Energy Reduction Program® for property owners and managers
of multi-unit buildings.
www.qcsenergy.net
On the leading edge since 1978, US Energy's mission has been to help property
owners and managers conserve energy
and reduce costs. Now, every property owner knows the world of energy use
has changed forever and the days of cheap energy are long gone. The watchwords today are "operating efficiency" and "conservation". Certainly, there are
many energy conservation and money-saving products smart property owners
and managers should consider, but Energy Management Systems (EMS),
integrated controls, fuel measurement and delivery verification,
and online monitoring are the essential "no-brainers." They go
to the heart of a property's energy use - providing information,
control and provable cost-saving results.
www.use-group.com
WeiserMazars LLP, an independent U.S. member firm
of Mazars Group, meets the critical issues and
competitive challenges facing global organizations,
owner managed businesses and high net worth
individuals. We provide innovative accounting, auditing, tax and financial
advisory services to a diverse range of clients in industries including:
real estate, financial services, manufacturing & distribution, media &
communications, healthcare, and not-for-profit. Our organizational
structure and access to professionals throughout the world facilitate
strong client relations and excellent service.
www.weisermazars.com
ONLINE GENIUS
Social, Search, Mobile, Remarketing, Listing Syndication, Dynamic phone numbers,
Analytics, Website Optimization. This is no time to go it alone.
Online Marketing Group (OMG) offers unequalled insight & services
for marketing real estate online. We are committed to
helping ownership generate leads. Lots of them, every day.
FREE LISTING SYNDICATION
Stop by our table and sign up for 2 months of free listing syndication.
We’ll put all your availabilities on over
30 WEBSITES FOR 2 MONTHS – FREE OF CHARGE.
Visit our table in the exhibit hall.
onlinemarketinggrp.com s 212.532.0600 s 12 West 23rd Street s New York, NY 10010
TUESDAY, NOVEMBER 15TH
Butterfield 8 • 5 East 38th Street • New York, NY 10016
5:00 - 7:00 PM
VIP Cocktail Reception (By Invitation Only)
A reception for sponsors, speakers and special guests hosted by Massey Knakal Realty Services
WEDNESDAY, NOVEMBER 16TH
McGraw-Hill Conference Center • 1221 Avenue of Americas • New York, NY 10020
7:30 AM
Registration & Networking Breakfast in Exhibit Hall
8:00 AM –
Opening Remarks & NYC Multifamily Market Update 쩦
Auditorium
Robert Knakal, Chairman, MASSEY KNAKAL REALTY SERVICES
8:30 AM –
Interview with Special Guest, Bruce Beal, Related Companies 쩦
Auditorium
One-on-one with:
Bruce Beal, Executive Vice President, RELATED COMPANIES
Robert Knakal, Chairman, MASSEY KNAKAL REALTY SERVICES
9:00 AM –
Affordable Housing: The Changing Fundamentals of the Low Income Housing Market 쩦
Auditorium
Moderator: John Kelly, Partner, NIXON PEABODY
Sol Arker, Partner, THE ARKER COMPANIES
Steven Barranca, Principal, FRIEDMAN LLP
David Dishy, Executive Vice President – Acquisitions & Investment, L + M DEVELOPMENT PARTNERS
Shola Olatoye, Deputy Director – New York, ENTERPRISE COMMUNITY PARTNERS
Eugene Schneur, Co-Founder & Managing Director, OMNI NEW YORK LLC
Mathew Wambua, Commissioner, NYC DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT
Attendance at this year's
Massey Knakal Multifamily Summit
qualifies you for up to 7.5 hours of CE credits,
facilitated by REEDC. License number and
sign-in required.Visit their table in the exhibit
hall for more details.
www.reedc.com
Conference Agenda
12
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COMPLIMENTARY CONSULTATION!
For more information, please visit us at:
www.qualityconservationservices.com/contact
or call 877.782.5661.
*Results may vary based upon findings of the Energy Reduction Needs Analysis.
QCS is a Parrticipating Contractor in Con Edison’s Multi-Familyy Energy Efficiency Program and a
Market Partnner in Con Edison’s Commercial & Industrial Energgy Efficiency Market Partner Program.
10:00 AM
Networking Break and Refreshments in Exhibit Hall
10:30 AM
Concurrent Sessions (Choose Track A, B or C)
Track A - Multifamily Financing:
Cap Rates vs. Interest Rates 쩦
Track B - Innovations in Management:
Lessons from the Front Line of Cash-Flow Generation 쩦
Auditorium
Room 209
Moderator: Garrett Thelander, Managing Director, MASSEY KNAKAL REALTY SERVICES
Moderator: Stephen Palmese, Director of Sales, MASSEY KNAKAL REALTY SERVICES
Robert Akalski, Senior Vice President, CAPITAL ONE
Melissa Farrell, Principal, PRUDENTIAL COMMERCIAL MORTGAGE
Spencer Garfield, Managing Director, HUDSON REALTY CAPITAL
Jeff Gould, President and CEO, BRT REALTY TRUST
Hilary Provinse, Vice President – Multifamily Lending, FANNIE MAE
Ron Wechsler, Managing Director, RAIT
Richard Wolf, Senior Managing Director, GREYSTONE
Robert Cohen, Managing Principal, R. A. COHEN & ASSOCIATES
Andrew Hoffman, Chief Operating Officer, STONEHENGE PARTNERS
David Kuperberg, Founder & CEO, COOPER SQUARE REALTY
Wayne Olson, Partner, MARGOLIN WINER & EVENS LLP
David Unger, Chief Operating Officer, US ENERGY
Matt Van Damm, Director of Operations, TOWN RESIDENTIAL
Track C - Online Marketing to Renters: How to Use Web, Mobile, and Social Media to Better Market Your Building 쩦
Room 205
Presenters: Don Tallerman, President, ONLINE MARKETING GROUP • Ilana Schwartz, Vice President, ONLINE MARKETING GROUP
Case Studies:
Alex Kafenbaum, Associate Director of Development, M&R MANAGEMENT
Michael Regan, Senior Leasing Director, VANTAGE PROPERTIES
Kirsten Risko, Marketing Manager, ROSE ASSOCIATES
About this workshop: Come learn how you and your leasing team can better market and lease up your vacant units while minimizing costs and brokers fees.
• Mobile Devices – How to be Smart “mobile”
• Brand Monitoring & Management – What comes up when you type your name into Google?
• Back from the dead. Print is making a comeback – how to use print to dovetail with your online efforts.
• Can social media really bring deals? How to make social media work for you.
11:30 AM
Concurrent Sessions (Choose Track A, B or C)
Track A - New Development Showdown:
Rentals vs. Condos 쩦
Track B - Albany and the City 2011:
Rent-Stabilization and the Politics of Real Estate 쩦
Auditorium
Room 209
Moderator: James Nelson, Partner, MASSEY KNAKAL REALTY SERVICES
Moderator: Ron Lagnado, Partner, WEISERMAZARS
Harold Fetner, President & CEO, DURST FETNER RESIDENTIAL
James Hedden, Senior Managing Director, Development, ROSE ASSOCIATES
Kenneth Horn, Founder & Principal, ALCHEMY PROPERTIES
Joe McMillan, Chief Executive Officer, DDG PARTNERS
Reid Price, Managing Director – New Developments, TOWN RESIDENTIAL
Sherwin Belkin, Partner, BELKIN BURDEN WENIG & GOLDMAN, LLP
David Hershey-Webb, Partner, HIMMELSTEIN, MCCONNELL,
GRIBBEN, DONOGHUE & JOSEPH
Robert Knakal, Chairman, MASSEY KNAKAL REALTY SERVICES
Daniel Margulies, Executive Director, ASSOCIATED BUILDERS
AND OWNERS OF GREATER NEW YORK
Joe Strasburg, President, RENT STABILIZATION ASSOCIATION
Track C - Multifamily Energy Management:
How to Use Benchmarking Data to Optimize Your Building’s Performance 쩦
Room 205
Presenter: David Unger, Chief Operating Officer, US ENERGY
About this workshop: Now that you have gathered your energy use data and have submitted it to EPA's Portfolio Manager in compliance with Local Law 84,
how can you put this valuable information to use? This workshop will focus on how to interpret the results from benchmarking your buildings and how to use
this information to drive energy efficiency measures to improve performance and reduce cost. This session will focus on the following topics:
• What is an EUI (Energy Use Index), and how does my EUI compare to other buildings?
• How to evaluate the building based on tenancy and space use
• Who bears the cost of energy use and how can it be controlled (Tenant vs. Owner)?
• How to evaluate each area of use, and determine strategies for reducing consumption
• Short and long term measures that can be taken - Low Hanging Fruit vs. Longer term investments
Conference Agenda
14
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12:30 PM
Concurrent Luncheons
Networking Lunch
Exhibit Hall
Working Lunch: Cash Management Secrets for Building Owners and Managers
Room 205 (Presentation begins promptly at 1pm)
Presenters: Bernadette Knight, Senior Vice President, CITIGROUP • Lyndie Fasold, Vice President, CITIGROUP
About this workshop: Owner, operators, and managers who are responsible for their portfolio’s cash management should attend.
• Real Estate Cash Management: Different account and payment types that meet the demands of the Real Estate industry
• Collections and Receivables: How to speed up receivables and streamline your company’s collections process
• Online Cash Management: How to maximize your bank’s Online Banking platform
• Preventing Fraud: How to safeguard your company’s bank accounts from check and electronic fraud
1:30 PM
Concurrent Sessions (Choose Track A or B)
Track A - Owners Roundtable 쩦
Track B - Transaction Financing Strategies: 1031 Exchanges 쩦
Auditorium
Room 205
Moderator: Andrew Baroccas, CEO, MNS
Presenter: David Gorenberg, Senior Vice President, CITIBANK
Adam Leitman Bailey, Owner, ADAM LEITMAN BAILEY, P.C.
Daniel Benedict, President, BENEDICT REALTY
John Gilbert, Executive Vice President, RUDIN MANAGEMENT
Larry Gluck, Founder and CEO, STELLAR MANAGEMENT
Robert Nelson, President, NELSON MANAGEMENT GROUP
Richard Parkoff, President, THE PARKOFF ORGANIZATION
About this workshop: Transaction attorneys and building owners
considering a sale should attend this workshop.
• Transactions: Property transactions and the rules of “incidental property”
• Benefits: How to maximize tax benefits, plus personal property implications
• Restrictions: What not to do in a delayed exchange
• Protect Yourself: Effects of Qualified Intermediary Fraud and Bankruptcy
• Examples: Real-life case studies and creative exchange solutions
2:45 PM
Repositioning Multifamily Assets: Renovation, Redevelopment & Conversions 쩦
Auditorium
Moderator: Stuart Saft, Chair of the Real Estate Department, DEWEY & LEBOEUF
Devin Aronstam, Head of Acquisitions, VANTAGE PROPERTIES
Larry Curtis, President, WINNDEVELOPMENT
Douglas Eisenberg, Chief Operating Officer, URBAN AMERICAN
Ziel Feldman, Managing Principal, HFZ CAPITAL GROUP
Arnold Goldstein, Chairman, SAMSON MANAGEMENT
David Gorenberg, Senior Vice President, CITIBANK
3:45 PM
Keynote Interview with AREA Property’s Richard Mack 쩦
Auditorium
One-on-one with:
Richard Mack, Chief Executive Officer, AREA PROPERTY PARTNERS
Paul Massey, CEO, MASSEY KNAKAL REALTY SERVICES
4:30 PM
Networking Cocktail Reception in Exhibit Hall
Photos, presentations, and audio recordings will be posted online after the event. Please visit
http://greenpearl.com/event-archives
And, meet past attendees of GreenPearl’s Real Estate Summits by following
GreenPearl Events on Facebook, LinkedIn, and Twitter.
Conference Agenda
16
Over 600 investors, owners, developers, financiers,
and other principals and deal makers helped make
MASSEY KNAKAL MULTIFAMILY SUMMIT
a success. Thank you for your support!
10439th Realty
1st Global Equity Investors
23 Schermerhorn KG, LLC
Adam Leitman Bailey, P.C.
Adelphia, LLC
AEA
AIG Global Real Estate
AJ Clarke Real Estate
AJA Properties, Ltd.
Alchemy Properties
Amalgamated Bank
Anbau Enterprises
Apartments.com
Arbor Realty Trust
AREA Property Partners
ARM Real Estate Group, LLC
Asset Preservation, Inc.
Associated Builders &
Owners of Greater New York
Bank of America
Bargold Storage Systems
Baruch College (CUNY)
Bedford Strategies & Solutions
BELFOR Property Restoration
Belkin Burden Wenig & Goldman, LLP
Belpointe Capital, LLC
Benchmark Title Agency
Benedict Realty
Berkadia
Birchwood Properties, LLC
Bloomberg News
Boston Realty Advisors
Bozzuto Management Company
Brenhines Properties, LLC
BRG
Bright Power, Inc.
Brown Harris Stevens
Brownstone Real Estate, LLC
BRT Realty Trust
Builders Bank
Cadence Capital Group, LLC
Capital One Bank
CBRE
Centerline Capital Group
Certilman Balin
CetraRuddy
Chase Bank
17
Conference Attendees
Citi Abstract Inc.
Citi Habitats
Citibank
Citigroup
Citi-Habitats
City Skyline Realty, Inc.
ClickPay Services, Inc.
Columbia University
Community Housing Improvement Program
Con Edison
Coney Realty Co.
Cooper Square Realty
Corigin
Cornicello, Tendler, Baumel-Cornicello
Covington & Burling, LLP
CPEX Real Estate
Creative Funding Group, LLC
David Staton
DDG Partners, LLC
Dearborn Capital Group
Deerwood Real Estate Capital
Deutsche Bank Berkshire Mortgage
Dewey & LeBoeuf
Diversified Realty Advisors, LLC
Dixon Advisory
Douglas Elliman Property Management
Douglaston Realty Management Corp
Durst Fetner Residential
DVO Real Estate Holdings, LLC
Eagle Rock Advisors, LLC
East End Capital
Eastdil Secured
Ecotekture Development & Design Inc.
Eldon Management
Emanuel Enterprises Corp.
EMG
Entech Digital Controls
Enterprise Community Investment
Enterprise Community Partners
Exceed, LLC
Falco & Isak Realty Services
Fannie Mae
Fine Times
First American Title Insurance Company
First Metropolitan Properties
First National Bank of Long Island
First Point Realty Advisors, LLC
Fisher Brothers
Flatbush Federal Savings
Focus Real Estate Group, LLC
Forrest Partners, LLC
Forsyth Street Advisors
Fortress Investment Group
Friedman, LLP
GACE Consulting Engineers
Gaveco Real Estate, Inc.
GCP Capital Group
Georgia Malone
Glenwood Management Corp.
Goldman Sachs
Gramercy Capital Corp.
Great Point Properties
Great Rentals
GreenPearl Events
Greenrock Organization, LLC
Greystone Servicing Corp.
Grubb & Ellis
GTIS Partners
Hamilton Properties
Hartz Mountain Industries, Inc.
Heights Real Estate
Helaba Landesbank Hessen-Thüringen
Herrick, Feinstein, LLP
HFZ Capital Group
Himmelstein, McConnell, Gribben,
Donoghue & Joseph
Houlihan Parnes
Hudson Housing Capital
Hudson Realty Capital
Hughes Hubbard & Reed, LLP
Insurent Agency Corporation
Invesco
Iron Hound Management, LLC
Jasberg Group, LLC
JB Real Estate Investment Group
JDF Realty, Inc.
JGAM, LLC
JP Morgan - Asset Management
JP Morgan Chase
JSPOL Investors Corp.
Julianna Realty
KASA Holdings, LLC
KeyBank Real Estate Capital
Khana Equities
Kushner Real Estate Group
L&P Real Estate Group, Inc.
L.A.M. Management Co., Inc.
L+M Development Partners, Inc.
Lafayette Portland Corp.
Landmark Partners
Larew, Doyle & Associates
Lee Stern & Co.
LeFrak Organization
Lehigh Cromwell, LLC
Leitner Group Inc.
Lend Some Money
Leslie A. Barnett, Architect
Lexin Capital, LLC
Lu Ning Architecture, PLLC
M&R Management Company
M&T Bank
M. Ravikoff Associates, Inc.
Madison Equities
Madison National Bank
Manhattan Skyline Management Corp.
Margolin, Winer & Evens, LLP
Massey Knakal Realty Services
Medley Realty, LLC
Meister Seelig & Fein, LLP
Meridian Capital Group, LLC
Meridian Properties, LLC
MetLife
Metrobuild, LLC
Metropolitan Funding Corp.
Michael & Appell Associates, Inc.
Mitsui Fudosan America
MJS Investments
MNS
Morgan Properties
Moss Adams Capital
NCL Capital Advisors
Nelson Management Group
Nemec Financial
New York State Energy Research &
Development Authority (NYSERDA)
Newmark Knight Frank
Nidoj Realty Corp.
NIKKEI
Nixon Peabody, LLP
NOI Strategies
NorthEnd Equities, LLC
NorthMarq Capital
NYC Department of Housing Preservation &
Development
NYRE Ventures, LLC
Omni New York, LLC
Online Marketing Group
On-Site.com
Papaver Holdings, LLC
Parkimmo
Phillips Development, Inc.
Pink Stone Capital Group, LLC
Pomme Group Real Estate Corp.
Porthaven Capital, LLC
Prana Investments
Principal Real Estate Investors
Prudential Commercial Mortgage
Prudential Douglass Elliman The Haber Team
Prudential Mortgage Capital Company
Quality Conservation Services
Quinlan Development Group, LLC
Quontic Bank
R. A. Cohen & Associates
RAIT
Rapid Realty NYC, Inc.
RealPage, Inc.
Rebel Rebel Capital
Recap Real Estate Advisors
Reigns Capital
Related Companies
REM Resiential
Rennie-Walker Holdings
Rent Stabilization Association
Rent.com
RentGrow
REOL Services
Reznick Group
RG Consulting Services, LLC
Riverside Abstract
RML
Roanoke Realty Partners
Rose Associates, Inc.
Roux Associates, Inc.
Royal Abstract
Rudin Management
SafeRent
Samson Management
Sandra Ospina
Service Directions, Inc
Shearman & Sterling, LLP
Sholom & Zuckerbrot Realty Corp.
Signature Bank
Simone Song Properties
Simpson Housing, LLP
Skyline TRG Title Agency
Sotheby's International Realty
Sovereign Associates
SR Properties
State Bank of Long Island
Stellar Management
Sterling American Property, Inc.
Steven Winter Associates, Inc.
Stillman Management
Stonehenge Partners
Studley, Inc.
Stuyvesant Town Peter Cooper Village Tenants Association
TAB Equities, LLC
TD Bank
TerraCRG
The Arker Companies
The Carlyle Group
The Dermot Company, Inc.
The Harmony Group
The Houston Real Estate Group
The John Buck Company
The Manhattan Realty (TMR)
The Marketing Directors
The Mgmt Group
The Parkoff Organization
The Rainmaker Group
The Real Deal
The Witkoff Group
Thomas S. Fleishell & Associates, P.C.
TIAA-CREF
Tishman Speyer
TMG
TOWN Residential, LLC
TransAtlantic Capital Advisors
Trellis Properties
Tuck Capital Associates
Turett Collaborative Architects
Universal Enterprise, LLC
Urban American
US Energy Group
USA Mortgage / Hecht Group
Vantage Properties
Wachtel Management Corp.
Waksard Capital, LLC
Walker & Dunlop
Waterton Associates
WeiserMazars, LLP
Wheelhouse Property
White Birch Builders, Inc.
Winick Realty Group
WinnDevelopment
Winthrop Management
Wiss & Company, LLP
WoodsBagot
Yarra Development, LLC
YMCA of Greater New York
Youngwood & Associates
As of November 4th
Conference Attendees
18
Thank You to Our Summit Speakers
Robert Akalski, Senior Vice President, Capital One
Robert Akalski is the Senior Vice President and Relationship Manager of Capital One's Multifamily Lending
business in New York. Capital One is one of New York's leading multifamily lenders with a portfolio of approximately $5.3fB and multifamily originations of over $1.4B in 2011. Capital One is very high on the New
York multifamily business and expects to grow its portfolio significantly over the next several years. Mr.
Akalski has over twenty five years of experience in all aspects of real estate finance, including the sourcing,
underwriting, structuring and negotiating of all types of transactions.
Sol Arker, Partner, The Arker Companies
Sol Arker is the Chief Executive Officer of The Arker Companies. He is responsible for providing direction to
all parts of the company including its development, contracting and management divisions. Mr. Arker holds
a B.S. degree in Economics from the University of Hartford and a J.D. degree from St. John's University. The
Arker Companies is a fully integrated development, construction, and property management company with
more than 100 employees, based in Floral Park, NY.
Devin Aronstam, Director - Head of Acquisitions, Vantage Properties
Devin is the Head of Acquisitions for Vantage Properties and its affiliate, Candlebrook Properties. Since
joining Vantage in 2009, Devin has led Vantage's geographic expansion out of New York City and into the
surrounding suburban markets, having acquired approximately 2,500 units in New Jersey to date. Prior to
Joining Vantage, Devin was a Principal with Lubert-Adler Partners, a leading real estate private equity firm.
Devin received his B.A from the University of Michigan and his M.B.A. from The Wharton School at the University of Pennsylvania.
Adam Leitman Bailey, Owner, Adam Leitman Bailey, P.C.
Adam Leitman Bailey, Esq. practices residential and commercial real estate law. Among New York's most
successful and prominent real estate attorneys, Mr. Bailey has been identified among the top five percent
of attorneys in the New York area, and named a Super Lawyer by Law & Politics magazine. During the past
three years, the internationally esteemed Chambers & Partners repeatedly selected Mr. Bailey as one of
New York's Leading Real Estate lawyers, hailing Mr. Bailey as a "tenacious and confident litigator who is
quick-witted in court and respected by the judges."
Steven Barranca, Tax Principal, Friedman LLP
Steven Barranca is a tax principal with Friedman LLP. He has over 25 years of experience in public accounting and specializes in the taxation of partnerships and partners in real estate. Steve has extensive experience with real estate developers, investors, operators, syndicated real estate deals, tiered-entity-structures,
low-income housing projects, historic tax credits, REIT compliance, UPREIT structures, tax-exempt investors,
and section 1031 like-kind exchanges.
Andrew Barrocas, CEO, MNS
Andrew Barrocas is the Chief Executive Officer of The Real Estate Group. He is jointly responsible for the
day-to-day operations, strategic planning and the overall vision of the company. Mr. Barrocas began his real
estate career at one of Manhattan's largest brokerage firms, where he soon earned the title of Managing
Director at the age of 23. Over the course of the next four years, he received numerous awards for his
achievements in real estate, including the prestigious Crain's NY "Top Broker Under 30?.
Bruce Beal, Executive Vice President, Related Companies
Bruce A. Beal, Jr., is an Executive Vice President of Related Companies. Mr. Beal joined Related in 1995
and is responsible for overseeing the day-to-day development process for projects throughout the country,
including acquisition, finance and construction activities. In addition, Mr. Beal oversees Related's existing
portfolio of residential properties as well as the new acquisitions and development for the Related Affordable division.
Sherwin Belkin, Partner, Belkin Burden Wenig & Goldman, LLP
Mr. Belkin has represented owners in numerous proceedings and hearings before the New York Conciliation and Appeals Board, Office of Rent Control, New York State Division of Housing and Community Renewal, Attorney General's Real Estate Financing and Consumer Frauds Bureaus, U.S. Department of
Housing and Urban Development and New York City Commission on Human Rights. He has successfully
challenged many of these administrative agencies in State Supreme Court and has argued appeals before
all levels of State appellate courts.
Daniel Benedict, President, Benedict Realty
Mr. Benedict founded Benedict Realty Group, LLC in 1995. After working with a Belgium-based metals and
commodities trading firm, Mr. Benedict saw the opportunities available in real estate in the early 1990s
and switched his focus toward acquiring NY multifamily real estate. Mr. Benedict's first real estate purchase
occurred in 1994 when he bought a $1 million note secured by 60 units in the Bronx, New York. The property had 30 vacancies with significant capex issues. Mr. Benedict foreclosed on the equity, filled the units
and has recouped the investment many times over.
Robert Cohen, Managing Principal, R. A. Cohen & Associates
Besides his expertise at assembling a diversified staff of professionals, Robert A. Cohen, president and
founder, has an extensive background in real estate law and management. Prior to forming R. A. Cohen &
Associates, Inc., he was Executive Vice President and Chief Operating Officer at Imperial Properties, Inc.,
New York, after a long and successful career as Vice President and General Counsel of M. J. Raynes Incorporated, during its period of dominance in co-op conversions in the 1980s.
Lawrence Curtis, President, WinnDevelopment
As Managing Partner and President for WinnDevelopment, Larry leads a full range of real estate development and acquisition activities for WinnCompanies, a Boston-based firm with over 80,000 residential units
under management in 23 states across the country. While maintaining a wide range of real estate interests, Larry's primary focus has been on the creation of affordable housing and historic rehabilitation.
David Dishy, Executive Vice President for Acquisition & Investment, L + M Development Partners
David Dishy is responsible for new acquisitions and investments for L+M. In this capacity, David manages
the New York Affordable Housing (NYAH) Preservation Fund, an investment platform with Citi Community
Capital as well as components of L+M's joint venture with Goldman Sachs' Urban Investment Group
(GSLM). Prior to joining L+M, David served as Senior Vice President for residential with Forest City Ratner
Companies and then as a Managing Director for residential development and acquisition with Tishman
Speyer in New York.
Douglas Eisenberg, Chief Operating Officer, Urban American
Urban American-founded in 1997-got its start in New York and New Jersey, building a portfolio of more than
12,000 units. Douglas Eisenberg is Chief Operating Officer of the company he started with his father, and
has developed a formula of buying, renovating, and managing workforce apartment properties often overlooked by institutional investors.
Melissa Farrell, Principal, Prudential Commercial Mortgage
Melissa is a Managing Director with Prudential Mortgage Capital Company. In this role, she oversees the
firm's Manhattan office and is responsible for the origination of a broad range of commercial mortgage
products throughout the Northeast region. She is located in New York City.
19
Thank You to Our Summit Speakers
Lyndie Fasold, Vice President, Citigroup
Lyndie Fasold is a Treasury Consultant and Vice President at Citi. Lyndie has been working at Citi since
2005 when she joined the organization as a Management Associate. Currently, Lyndie works with Middle
Market and Financial Intermediary clients in the New York and Connecticut marketplaces to provide them
with innovative Cash Management Solutions.
Ziel Feldman, Managing Principal, HFZ Capital Group
Mr. Feldman began his career as a real estate attorney in 1984 and ascended quickly to the role of partner. Concurrent with his legal work, Mr. Feldman began investing in several multi-family properties located
in New York City. In 2005, Feldman created a new entity, HFZ Capital Group, with a broader mandate to
capitalize on development and investment opportunities in the U.S. and around the globe. In 2007, Mr.
Feldman purchased a majority stake in Polar Investments Ltd., a public real estate company traded on the
Tel Aviv Stock Exchange (TASE), and assumed the position of Chairman.
Harold Fetner, President and CEO, Durst Fetner Residential
Harold Fetner became President and CEO of Sidney Fetner Associates in 1988, and he was named President and CEO of Durst Fetner Residential at its inception in 2007. Under Mr. Fetner's direction, SFA's portfolio has grown exponentially, all through ground up development, allowing the company to earn its
reputation as a premiere residential development and management company. He has established the core
values for Durst Fetner Residential, which include: high service standards, commitment to sustainable development and attention to detail.
Spencer Garfield, Managing Director, Hudson Realty Capital
Mr. Garfield joined Hudson at its formation in March 2003 as a Managing Director in charge of new loan
originations, business development and business relations. Mr. Garfield has been instrumental in the company achieving dominance in the middle-market, opportunistic real estate investment arena. Led by
Garfield's originations, HRC has closed more than $2 billion in debt and equity transactions since the formation of its initial two funds. Before joining HRC, Mr. Garfield spent 12 years in the real estate industry
with an emphasis on real estate investment and finance.
John Gilbert, Executive Vice President, Rudin Management
John Gilbert is EVP and COO for the Rudin organization. This prominent, family-owned developer, possesses
10 million feet of commercial space and 18 apartment buildings. Mr. Gilbert has chaired or co-chaired several task forces on rebuilding telecom infrastructure and security, and serves on Mayor Bloomberg's task
forces on energy policy and improving the City's emergency response and security, and was appointed to
the Mayor's new Broadband Advisory Committee. Mr. Gilbert also is a Trustee for the New York Hall of Science.
Laurence Gluck, Founder and CEO, Stellar Management
In March, Laurence Gluck picked up a stalled condominium project in Williamsburg, Brooklyn, at a steep
discount. He plans to relaunch it as a rental. In the past year, the head of Stellar Management has also
snapped up a hotel and a residential tower in Manhattan, and signed on a deep-pocketed investor for his
cash-squeezed, 26-story office tower downtown.
Arnold Goldstein, Chairman, Samson Management
Arnold Goldstein graduated from New York University's School of Commerce, Accounts and Finance, and is
co-founder of Samson Management, one of New York City's largest owner management firm. Mr. Goldstein
is Chairman of the Board and Chairman of the Executive Committee of the Rent Stabilization Association of
New York, member of the Attorney General's Cooperatives and Condominiums Advisory Task Force and
served as a Director of the NYS Managed Long Term Care Advisory Board.
David Gorenberg, Senior Vice President, Citibank
David is the Senior Vice President of Citibank, N.A., and serves as the National Director of 1031 Exchange
Services, a national Qualified Intermediary in Section 1031 tax-deferred property exchanges. In that capacity, he speaks frequently on Section 1031 tax-deferred property exchanges, recently issued regulations regarding exchanges, and updates to the Tax Code concerning Section 1031, and related issues. He has also
developed other specialized presentations to meet the needs of specific groups, including attorneys, accountants, estate planners, real estate professionals, and investor groups.
Jeffrey Gould, President and CEO, BRT Realty Trust
Jeff is President and Chief Executive Officer of BRT Realty Trust (NYSE: BRT), a Great Neck, New York based
public mortgage REIT and a member of the Board of Trustees. BRT originates short-term bridge loans for
acquisition and to assist borrowers in the buyback of their debt or third-party debt opportunities primarily
on income producing properties nationwide. Jeff has an outstanding record of accomplishments in commercial real estate lending and real estate ownership. Under his stewardship, BRT has dramatically advanced its reach, equity and assets to become one of the foremost short-term lenders on the national
unconventional lender landscape, providing impeccable service, speed, and reliability of closing.
James Hedden, Senior Managing Director, Development, Rose Associates
As Senior Managing Director of Development for Rose Associates, Inc., James L. Hedden sources development and acquisition opportunities and provides financial analysis and investment viability. Prior to joining
Rose Associates, Jim was NYC Regional Executive for Bank of America's Commercial Real Estate Banking
Group. Jim has more than 25 years in various positions in the real estate industry hroughout the Northeast.
He served as senior vice president at Fleet Bank in charge of commercial real estate lending, managing offices in New Jersey, Philadelphia and Washington DC.
David Hershey-Webb, Partner, Himmelstein, McConnell, Gribben, Donoghue & Joseph
David is a partner at Himmelstein, McConnell, Gribben, Donoghue & Joseph and has been with the firm
since 2001. David specializes in DHCR related litigation and has won significant decisions in favor of rentstabilized tenants including Columbus 95 v. DHCR (Supreme Court decision holding that former MitchellLamas are not entitled to "unique or peculiar" rent increases). David has published in the New York Law
Journal (In the Wake of the 'Roberts' Decision, What Next? 12/1/09).
Andrew Hoffman, Chief Operating Officer, Stonehenge Partners
Andrew Hoffman joined Stonehenge Partners in 2008 as Chief Operating Officer. He is responsible for all
aspects of the company's operations including leasing, property management, compliance and related operational matters. Mr. Hoffman has over 25 years in New York City real estate management, including 16
years as the President of Clarendon Management Corp., the owner-operated management company managing more than 2,500 residential rental units, including the 1,000-unit London Terrace Gardens. The portfolio Mr. Hoffman oversaw was valued at over $800 million.
Kenneth Horn, Principal, Alchemy Properties
Kenneth S. Horn, Esq. founded Alchemy Properties Inc. in 1990. Mr. Horn has been actively involved in development and other aspects of real estate in the metro area for 25 years. Since 1990, Mr. Horn has been
directly responsible for the acquisition, renovation, development, financing, marketing and conversion of
over 3,000 apartments in the New York City region. Alchemy has developed over Twenty (20) residential
and retail buildings in Manhattan, Brooklyn and Queens either as ground-up structures or rehabilitations.
John Kelly, Partner, Nixon Peabody
Mr. Kelly has extensive experience representing both for-profit and nonprofit developers, owners, and operators in complex real estate transactions, including acquisitions and sales, ground leases, development
agreements, and financings (private or public). Mr. Kelly has developed specific experience in federal,
state, and local housing programs, including the FHA multifamily mortgage insurance programs, Section 42
low income housing tax credits, Section 8 and Section 202 restructurings, New York State and City MitchellLama programs, and New York State Housing Finance Agency.
Reid Price, Managing Director - New Developments, Town Residential
Reid Price is recognized as one of Manhattan's leading real estate experts in new development and highend sales. In his 15-plus-year career, he has not only produced over $1 billion in property sales at Manhattan's premier residential brokerage firms; he has been integral in the pre-planning, marketing and sales of
some of Manhattan's most prestigious new developments. Among them are The New Museum Building,
285 Lafayette Street, 385 West 12th Street, The Atalanta Building, 140 West 22nd Street, Spring, River
Lofts, Orion, Downtown by Starck and The Hubert.
Robert Knakal, Chairman, Massey Knakal Realty Services
Robert Knakal is Chairman and Founding Partner of Massey Knakal Realty Services, a full service property
sales firm. He graduated from the Wharton School of Business at the University of Pennsylvania with a B.S.
in in Economics in 1984. He started his real estate career at CB Richard Ellis where he met Paul Massey.
They both left CB in 1988 to form Massey Knakal Realty Services. To date, Massey Knakal has a market
value in excess of $11 billion. Mr. Knakal has been personally responsible for the sale of more than 1000
buildings worth over $6 billion.
Hilary Provinse, Vice President - Multifamily Lending, Fannie Mae
Hilary B. Provinse is a Vice President of Small Loans and Pools in Fannie Mae's multifamily division. She
works for Fannie Mae's Vice President - Multifamily Lender Strategy and Relationships. Ms. Provinse is responsible for managing relationships with several of Fannie Mae's Delegated Underwriting and Servicing
(DUS) Lenders. She also manages the multifamily Small Loan platform as well as bulk purchases and securitizations of seasoned multifamily pools of loans. Hilary joined Fannie Mae in July 2004 and was responsible for Fannie Mae's municipal bond purchases.
Bernadette Knight, Senior Vice President, Citigroup
Bernadette Knight is a Senior Vice President and manages Citibank's Northeast Cash Management Sales
Group. She has been with Citibank for 13 years primarily in the Cash Management business. She manages
a team of 14 Treasury Consultants who help companies create efficiencies in their cash management
processes and free up working capital. Bernadette has over 17 years banking experience and holds an
MBA in Management and Finance from the Zarb School of Business at Hofstra University and a Bachelor of
Business Administration from Adelphi University.
Stuart Saft, Head of the Real Estate Department, Dewey & LeBoeuf
Stuart M. Saft, chair of Dewey & LeBoeuf's Global Real Estate Department, is one of the leading lawyers in
the development, financing, leasing, conversion to condominium and cooperative ownership, construction,
exchange, syndication, sale/leaseback, time share, restructuring, acquisition and sale of residential, commercial and hospitality property throughout the US. Mr. Saft has also represented lending institutions in
mortgage lending and workouts and has advised clients on dealings with Fannie Mae, Freddie Mac and the
Federal Home Loan Banks.
David Kuperberg, Founder & CEO, Cooper Square Realty
David Kuperberg, a respected leader and visionary in property management for more than two decades,
founded Cooper Square Realty in 1987 and quickly spearheaded its growth into the largest residential
property management firm in New York City. He is a vocal advocate of training and certification and has
earned the industry's highest designations of Certified Property Manager (CPM®) and Advanced Registered
Apartment Manager (RAM).
Eugene Schneur, Co-Founder & Managing Director, Omni New York LLC
Eugene is the co-Managing Director and co-founder of Omni New York LLC. Since Omni's inception in 2004,
Eugene has overseen the day to day operations of the organization that has grown into a full service real
estate organization (development, construction and management) employing over 250 full time employees.
During this period, Omni has acquired and rehabilitated (or is in the process of rehabilitating) 30 properties
totaling over 5,200 units of affordable housing with an aggregate transaction amount of over $750 million
dollars.
Ron Lagnado, Partner, WeiserMazars
Ron Lagnado is a partner in the Real Estate Services Group at WeiserMazars. Ron brings more than 20
years of experience providing audit and accounting services to the real estate industry based primarily in
the New York metropolitan area. He has extensive knowledge in the areas of affordable housing development and compliance, and the financial and tax issues confronting the real estate and construction industries. Areas of key focus include the performance of attestation engagements, compliance, due diligence,
and cost certifications for commercial and residential real estate entities.
Richard Mack, Chief Executive Officer, AREA Property Partners
Richard is the Chief Executive Officer of AREA's North American business responsible for new investments
and investment management. Mr. Mack was one of the founding Principals of AREA in 1993 and is a member of the firm's Investment Committees in the U.S. and Europe. Since 1993, Mr. Mack has been involved
in the investment of over $13 billion in more than 550 transactions on behalf of AREA's institutional investors and was specifically responsible for the creation of new business lines to capitalize on evolving
market trends, including AREA's subordinate debt business.
Ilana Schwartz, Vice President, Online Marketing Group
Ilana is Vice President of Online Marketing Group. Online Marketing Group (OMG) is a full service advertising agency. OMG specializes in providing comprehensive online marketing strategies for building owners
and managers. Each campaign is customized to the clients' needs. Marketing professionals at OMG can
develop advertising & media recommendations that match your goals and budget to generate highly qualified leads to you. OMG can create unique and compelling ad campaigns to be used in a variety of mediums, including the internet, e-blasts, magazines, newspapers and outdoor media.
Patrick Siconolfi, Executive Director, Community Housing Improvement Program
Patrick Siconolfi leads the Community Housing Improvement Program (CHIP), which is a trade association
representing more than 2,500 apartment-building owners in New York City's five boroughs. Founded in
1966, CHIP has been a key player in City and State housing policy for over 40 years, leading on such diverse issues as lead paint, property taxes, water rates, and rent regulation.
Paul Massey, Chief Executive Officer, Massey Knakal Realty Services
Together with Partner Robert Knakal, whom he met at Coldwell, he founded what has become New York
City's largest investment property sales brokerage firm. With 150 sales professionals serving more than
200,000 property owners, Massey Knakal Realty Services is ranked New York's #1 sales company in volume by CoStar Group, a national independent tracking agency. With more than $2 billion in annual sales,
Massey Knakal also ranks as one of the nation's largest privately owned real estate brokerage firms.
Joe Strasburg, President, Rent Stabilization Association
Joe Strasburg leads the Rent Stabilization Association of N.Y.C., Inc. (RSA), which is a real estate industry
trade association in New York representing 25,000 property owners/agents responsible for approximately
one million units of housing. RSA's members range from owners of one small building to large multi-family
complexes, cooperatives & condominiums. Our broad representation has allowed us to develop a powerful
base for our lobbying programs and the resources to provide a wide assortment of products and services to
our members.
Daniel Margulies, Executive Director, Associated Builders and Owners of Greater New York
Dan Margulies is Executive Director of the Associated Builders and Owners of Greater New York, the local
affiliate of the National Association of Home Builders. ABO represents New York City's major housing developers. Margulies was executive director of Community Housing Improvement Program, Inc., a rental property owners' trade association, from 1986 until 2003, when he left to become a real estate broker and
consultant. More recently, he was chief operating officer of US Energy Group, a heating controls manufacturer.
Don Tallerman, President, Online Marketing Group
Don Tallerman, President of Online Marketing Group (OMG), is an advertising industry veteran, beginning
his career with Young & Rubicam and Saatchi & Saatchi. He worked with such clients as Kraft, The Travelers, and Texaco. He later spent time on the client side of marketing, working for financial giant Merrill
Lynch. Don founded Online Marketing Group, which is a company that specializes in providing services to
Owners & Managers in New York City. Don saw a tremendous need for a company to help clients bridge the
gap from reliance on "old media" to more effective online media.
Joe McMillan, Chief Executive Officer, DDG Partner
Joe McMillan is Chief Executive Officer of DDG Partners, an integrated
investment and development firm with offices in New York and San Francisco. DDG's vertically integrated
structure allows it to provide capital, design, construction, development and asset management expertise
across its portfolio. DDG focuses on mixed-use and luxury residential development on the east and west
coasts.
Garrett Thelander, Managing Director, Massey Knakal Realty Services
Garrett Thelander comes to Massey Knakal from Anglo Irish Bank where he was Executive Vice President.
During his tenure, he was part of the executive team responsible for hiring and strategic planning for what
started as a two-person office into a 35-person team. Prior to Anglo Irish Bank, Mr. Thelander was the Director of the Mortgage Finance Group for Kimco Realty Corporation where he was responsible for the
arrangement, structuring and closing of all mortgage debt for this real estate investment trust, the largest
owner of neighborhood and community shopping centers in the country.
James Nelson, Partner, Massey Knakal Realty Services
James Nelson brings to every real estate transaction he works on the determination to win, the tenacity
and hard work to succeed, and the confidence that comes from years of experience in the field. At Massey
Knakal Realty Services since 1998 and a partner since 2004, James has been involved in the sale of more
than 200 properties and loans with an aggregate value of over $1.3 billion. In April, he was included by The
Real Deal as one of the Top 35 and Under NYC Real Estate Players and was recently ranked as the #1 Top
NYC Deal Maker by LoopNet, an on-line Commercial Real Estate Publication.
David Unger, Chief Operating Officer, US Energy
David Unger has more than 15 years experience growing technology focused companies, and has been a
pioneer in the use of Internet and Web-Based technologies. He was the founder of MediaStream, a cutting
edge New York Web Services company, in 1994. David joined US Energy as their CTO in early 2006 in order
to lead the development effort for their USE-Manager Software platform, and has since become COO of the
company in order to drive the growth of the company into new products and markets.
Robert Nelson, President, Nelson Management Group
Robert S. Nelson is an owner and operator of apartment buildings in New York City and the President of
New York-based Nelson Management Group, Ltd. He is also one of the founding partners of Global One Investments, LLC. Mr. Nelson recently formed a private equity fund of $100 million dollars by the name of
Global One ASB Fund, LLC. The fund primarily seeks to invest in additional apartment buildings to add to its
portfolio. Mr. Nelson oversees the day-to-day management and asset management functions of over $200
million worth of multifamily product owned by the firm and its affiliates.
Matt Van Damm, Director of Operations, Town Residential
Matthew Van Damm, Director of Operations, plays an integral role in Town's strategic growth, business development and all facets of its operations. Additionally, he oversees the design and construction of all of
Town's locations. With nearly a decade in the Manhattan real estate industry, Matthew's experience has exposed him to nearly every aspect of residential brokerage and development. This experience has shaped
his understanding of numerous processes and helped him develop his collaborative and dynamic approach
to management.
Wayne Olson, Partner, Margolin Winer & Evens LLP
Mr. Olson is the Chairman of MWE's Real Estate Practice Group and a member of the Firm's Executive Committee. At MWE, he is involved with all aspects of tax planning, review and compliance on behalf of clients
that include owner-operators, developers, converters and contractors. Mr. Olson has extensive experience
in business and tax planning, as well as financial due diligence, forecasts and projections, especially related to real estate and facility acquisition, development, construction and operation.
Mathew Wambua, Commissioner, NYC Department of Housing Preservation and Development
Mathew Wambua, Commissioner of the NYC Department of Housing Preservation & Development, most recently served as Executive Vice President of Real Estate and External Affairs for the New York City Housing
Development Corporation (HDC) since February of 2008. As HPD Commissioner, Mr. Wambua is Chair of
the HDC Board of Directors; from May 2006 to early 2008, he served as Vice Chair of the board, appointed
by Mayor Bloomberg. From November 2004 through February 2008, Mr. Wambua was Senior Policy Advisor
for the NYC Deputy Mayor of Economic Development.
Stephen Palmese, Director of Sales, Massey Knakal Realty Services
Mr. Palmese, a Brooklyn native, joined Massey Knakal, in August 2004, after graduating from Georgetown
University, where he pursued a degree in International Finance & Business Management, and also spent
time studying at Oxford University, UK. In his career, Stephen has sold over 50 properties with an aggregate
consideration of nearly $225,000,000. In 2009, Stephen handled the largest apartment building and development site transactions to take place in Brooklyn (as of June 2010), in the post-Lehman Brothers economy.
Shola Olatoye, Deputy Director - New York, Enterprise Community Partners
As deputy director and director of relationship management, she leads production efforts, helps to develop
new products and solutions, and oversees relationship management for the many public and private partners with which Enterprise works in New York. Prior to joining Enterprise, Shola was a vice president and
senior community development manager with HSBC Bank USA, N.A., managing the bank's Community
Reinvestment Act (CRA) program of lending, investment and service in low- and moderate-income communities in Washington D.C., and South Florida.
Ron Wechsler, Managing Director, RAIT
Mr. Wechsler has over 30 years of professional real estate experience, the last 21 of which have been in
CMBS. Mr. Wechsler is a Managing Director at RAIT Financial Trust in charge of CMBS origination. He has
been with RAIT since 2008. Prior to joining RAIT, Mr. Wechsler was co-head of the CMBS conduit for Citigroup between 2001 and 2008. Under his direction, conduit originations grew 7-fold. Prior to his tenure at
Citigroup, Mr. Wechsler was a Senior Vice President at GMAC from 2000 to 2001, originating mezzanine
loans and preferred equity investments.
Richard Wolf, Senior Managing Director, Greystone
Richard Wolf is Senior Managing Director in charge of Small Loan Production at Greystone Servicing Corporation. Prior to Greystone, Richard worked at Fannie Mae for 11 years as Vice President responsible for
small loan production, negotiated pools, and large national accounts. Prior to Fannie Mae, worked in securitization groups at Merrill Lynch and KPMG. MBA in Finance from Florida State University and BA in Economics from the University of Miami.
Thank You to Our Summit Speakers
20
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REM Residential is one of New York’s preeminent
real estate management companies with a focus
on managing rental buildings for investors
At REM Residential, we adhere
to a set of core values that
form the cornerstone of our
r e p u t a t i o n : a c c o u n t a b i l i t y,
integrity and an “old school”
work ethic that commits us to
delivering on every client
o b l i g a t i o n i n a p ro f e s s i o n a l
a n d timely fashion. We are a
family owned business that
embodies boutique management at its finest. There is no
such thing as a building too
small. Our overriding goal is to
protect your investment as if it were
our own and to help you make
m o n ey. We have worked hard to
create a nurturing, supportive
environment that encourages our
employees to pursue long term
careers with us; meaning that our
clients benefit from long-term
re l a t i o n s h i p s w i t h t h e s a m e,
seasoned professionals. The moment you walk into our office you
will understand that managing
buildings is what we love to do.
www.REMNY.com
REM Residential offers owners
stability in management that
they have long sought but
not often found. We take
great pride in how diligently
w e c ove r t h e b a s i c s : i f yo u
work with REM, files will not
get lost; tenants’ records will
always be at our fingertips —
precisely and accurately filed.
I s s u e s w i l l n o t f a l l t h ro u g h
the cracks; permits, MBR’s
and Fuel Cost adjustments
will be filed correctly, and any
(rarely occurring) violations
will be cleared promptly.
By choosing REM Residential
to manage your property you
not only are getting an
experienced management
firm that will protect your
investment but will also help
the economic soundness of
your investment.
1 1 0 E . 1 7 TH S T R E E T • N E W Y O R K , N Y 1 0 0 0 3
PH: 212-260-8060 • FAX: 212-260-6922
NYAH Preservation Fund LLC is a joint venture between
Citi Community Capital and L+M Development Partners Inc.