Top Women Commercial Real Estate 2014

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A Special Edition from Sokol Media, Inc.







Saving Buildings… and Beyond





Brookfield Office Properties is proud to support

SARA QUEEN and all the

2014 Top Women in Commercial Real Estate on their outstanding accomplishments

Contents 2 PUBLISHER’S PAGE 4 INDUSTRY NEWS Printhouse Lofts Opens In Williamsburg, while Luxury Makes a Hit in LIC

10 COVER STORY For Dorothy Wasiak, a ‘TOP Woman in Commercial Real Estate,’ revitalizing buildings is no less important than rewarding girls for their commitment to learning

15 ANNUAL FEATURE Meet this year’s ‘TOP Women in Commercial Real Estate’ Sheri Best Lauren Brust Francesca Bucci Crystal Denunzio Collete English Dixon Diane Fields Jane Gustafson Tami Hausman Amelia Janisz Esther Kopel Catherine Luthin Allyson Martin Sherida Paulsen Terry Pissi Sara Queen


31 SPECIAL FEATURE: MNS New Development Report 1st Qtr. 2014 Come learn what’s rising, and falling, in value in Manhattan so far



Charming Chelsea One of our oldest neighborhoods is one of our busiest, according to Faith Hope Consolo of Prudential Douglas Elliman

37 CALENDAR OF EVENTS Upcoming industry happenings in the months of May and June • 1

Publisher’s Page There are fewer female executives in the commercial segment of real estate field than on the residential side. Thus is the reason for of this Special Annual edition. Walk into most commercial real estate offices, meetings, or boardrooms, and there will most often be fewer women sitting at the table. But the women being honored in this issue are determined to change that. Whether representing architecture, development, finance, construction, property management marketing, or insurance, these women are serving as outstanding examples of their success in each of these arenas. But we are honoring them more for their own accomplishments. It is our hope that new women in the field, and those considering it, will view these women as mentors for what is possible, and probable, for anyone who wants to achieve, no matter their goal. Enjoy the issue! Lori Sokol, Ph.D. Founder & Publisher Please address all comments and questions to

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Sokol Media, Inc. FOUNDER & PUBLISHER Lori M. Sokol ART DIRECTOR Kerstin Vogdes Diehn PUBLISHING CONSULTANT James Janson CONTRIBUTING WRITER Faith Hope Consolo COPYWRITER/ RESEARCH ASSISTANT Jason H. Greenberg WEB DESIGN Design Disegno ACCOUNTING Citrin Cooperman PRINTING AmericasPrinter Sokol Media, Inc. 75 West End Avenue, #P15F New York, NY 10023 Ph: 973-769-7012 Copyright by Sokol Media, Inc. No part of the publication may be reproduced or transmitted in any form or by any means without prior written consent from the publisher. The publisher reserves the right to accept or reject any advertising or editorial materials. Advertisers and/or their agents assume the responsibility for all content of published advertisements and assume responsibility for any claims against the published based upon the advertisement. Editorial contributors assume any claims against the publisher based on the published work. No part of this publication may be reproduced in any form or by any electronic ormechanical means, including information storage and retrieval systems without permission in writing from the publisher. All items submitted to Sokol Media, Inc. become the sole property of Sokol Media, Inc. Editorial content may not necessarily reflect the views of the publisher. All correspondence and inquiries should be addressed to: Sokol Media, Inc., 75 West End Avenue, #P15F, New York, NY 10023.

Success starts with positive energy and strong relationships.

Direct Energy Business congratulates Catherine Luthin and the 2014 honorees for Top Women in Commercial Real Estate We are honored to be working with you! Nancy Gardner Sales Manager, Indirect-NYC Metro 732-750-6030

Deborah Lenny Director of Channel Partner Sales, Metro NYC/South 856-778-7850

About Direct Energy Business and Hess Energy Marketing

Hess Energy Marketing is now a part of Direct Energy Business, one of the largest commercial retail energy suppliers in North America. Our size, financial strength, and experience position us to competitively serve our customers with a powerful combination of industry-leading products, straightforward guidance and personalized service. We have been serving the New York Metro region with electricity and natural gas supply and related energy consulting services for more than 25 years and are pleased to offer energy procurement solutions to more than 250,000 customers in 22 U.S. markets and five Canadian provinces as part of our extended North American footprint. | 888.925.9115


RARE PRIME CORNER RETAIL SPACE OPENS UP IN HELL’S KITCHEN AT 695 NINTH AVENUE & WEST 48TH STREET Prime offering, exclusively marketed by Eastern Consolidated, is the only store-front vacancy along the bustling corridor THE SPACE IS COMPRISED of 2,000 square feet on the ground floor and 800 square feet on the lower level. It also features 25 feet of sidewalk frontage on a Prime Corner of Ninth Avenue & West 48th Street and is available for immediate possession. “As the only store-front vacancy along this corridor that is known for its culinary diversity, we expect this prime corner retail offering to be snatched up quickly,” said James Famularo, Senior Director of the Retail Leasing Division for Eastern Consolidated, who exclusively

represents the property along with Associate Director Jeff Geoghegan. “Hell’s Kitchen receives a heavy and continuous flow of foot traffic, which makes this rare opportunity attractive to restaurateurs and retailers alike.” Neighboring tenants along the popular thoroughfare include Kiehl’s, Southern Hospitality Bar, World Wide Plaza, Bally’s Gym, Atlas Social Club, Mercury Bar, Five Napkin Burger, Amy’s Bread, Fuel, Empanada Mama, Duane Reade, McDonald’s, Petland Discounts, Yum-Yum and more.

Sutton Land Title Agency

What do you believe in? We believe in the power of people. The power of dreamers, builders, and world changers. We believe in being part of something bigger: Bold pursuits that shape our world for the better. We believe there are no limits, but only possibilities. We believe in keeping optimism alive. Our lives are devoted to bringing ideas to life. We believe that together, we’re stronger than on our own. Together, we are one. We are Aon. Aon congratulates Allyson Martin for being recognized as a Woman to Watch in Commercial Real Estate Visit to learn more.

A Sutton Alliance Company

Sutton Congratulates

Esther Kopel


SUTTON ALLIANCE & all of the Outstanding 2014 Honorees

Top Women in Commercial Real Estate Sutton Land Title Agency 515 Rockaway Avenue, Valley Stream, NY 11581 Telephone: 516.837.6000

Seamless Transactions. Serious Service.

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TF CORNERSTONE INC.’S SIXTH AND FINAL BUILDING on the Long Island City (LIC) waterfront, 4610 Center Boulevard, is now leasing residences. The modern, 26-story tower curves around LIC’s famous Pepsi-Cola sign and features spacious luxury apartments, a sprawling amount of outdoor space, breathtaking views, and a familyfriendly community. Designed by international awardwinning architecture firm Arquitectonica, 4610 Center Boulevard’s 584 units--a mix of studios, one-, two-, and three-bedroom apartments--feature stainless steel appliances, glossy white cabinets, great custom closets, wood strip floors, and floor-to-ceiling windows with sweeping views of the Manhattan skyline. The building’s elegant interior ame-

nity spaces were designed by internationally renowned design firm Yabu Pushelberg. Residents will enjoy a spacious lobby with a WiFi lounge, a private garden, and 24-hour concierge. A modern fitness center is located on the seventh floor, and on the eighth floor, a resident club opens on to a landscaped terrace with beautiful views. “Following on the heels of 4545 Center Boulevard, which leased up in record time, 4610 Center Boulevard will accommodate the continued influx of new residents to the vibrant and bustling neighborhood,” said Sofia Estevez, Executive Vice President for TF Cornerstone. “The opening of this building is a significant milestone in the history of the New York City waterfront and is a true sign of the area’s immense residential transformation since its days as an industrial hub.”

4610 Center Boulevard is a convenient four-minute subway ride away from Midtown Manhattan on the 7 train, and accessible by the G, E and M trains, East River Ferry and the Pulaski Bridge. Made up of entirely new construction, this area along Center Boulevard includes waterfront parks, a public K-8 elementary school, shops and restaurants including Sweetleaf Coffee and Tea, Shi Asian Restaurant, Blue Streak Wines, Food Cellar Market, Duane Reade, and MoMA PS1, all of which are within walking distance from 4610 Center Boulevard. The waterfront is also home to the LIC Flea & Food, NYC’s top-rated outdoor market, which is now open for its second season. For more information about 4610 Center Boulevard, please call 718-6069440 or email



STUDIOS WINS THE 2014 GOOD DESIGN IS GOOD BUSINESS LIFETIME ACHIEVEMENT AWARD THE FIRM WAS HONORED at the American Architectural Foundation’s 2014 Accent on Architecture Gala on April 24th at the historic Andrew W. Mellon Auditorium in Washington, DC. STUDIOS is just the third firm ever to receive theArchitectural Record Good Design is Good Business Lifetime Achievement Award. The award honors architects who best utilize design to achieve strategic business objectives. Several STUDIOS projects have been honored in the past for “demonstrating how thoughtful architecture, cohesive collaborations, and sustainable resource management can benefit a client’s bottom line, productivity levels, and preparedness for the future.” These include 200 Fifth Avenue,, IAC, Bloomberg, LP, and the Cali-

fornia Department of Public Health. The Honorable Carolyn G. Goodman, Mayor of the City of Las Vegas; the Honorable Oscar B. Goodman, Former Mayor of the City of Las Vegas; Novartis; and the Chicago Architecture Foundation were among the other honorees at the American Architectural Foundation’s annual gala. STUDIOS is an international design practice focused on enhancing the human experience. We are led by 18 principals with offices in Los Angeles, Mumbai, New York, Paris, San Francisco, and Washington, DC. We provide comprehensive design services to a global roster of clients. Our culture of innovation is driven by a collaborative team of architects and interior designers, crafting inspired solutions that advance our client’s mission. • 5


GREYSTONE’S “PRINTHOUSE LOFTS” COMES TO THE WILLIAMSBURG RENTAL MARKET Adaptive Re-use of 1900’s Warehouse at 139 North 10th Street Brings 36 Luxury Rentals to Brooklyn Market GREYSTONE, a New York-based real estate development and financial group, is pleased to announce that 139 North 10th Street, officially launched as “Printhouse Lofts,” is coming to market in the next several weeks. Ideally situated between Berry Street and Bedford Avenue in Brooklyn’s Williamsburg neighborhood, the 1900’s industrial-style warehouse has been transformed into a 36-unit luxury rental apartment building offering high-end, industrial fixtures with modern amenities. is the exclusive sales and marketing team for Printhouse Lofts. “Williamsburg is undergoing one of the most exciting real estate transformations in all of New York City. This was the ideal neighborhood to develop a luxury rental building that not only offers views and amenities, but also cutting-edge design in a prime location,” said Jeffrey Simpson, head of property development at Greystone. “We were deliberate in keeping the building’s industrial aesthetic, while also adding modern touches that make people feel at home.” The apartment mix within the petfriendly elevator building consists of 28 one-bedrooms, six two-bedrooms and two three-bedrooms. Two of the ground floor apartments boast 50-foot-long glass solariums. The units feature stainless steel appliances, farmhouse sinks and natural stone countertops. The interiors are designed by Funda Durukan of Durukan Design, whose signature industrial feel is

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employed by juxtaposing many of the building’s original features with new modern elements including exposed beams, oversized industrial tilt and turn windows, exposed brick and heavy tinder beams. Large columns support 13-foot ceilings with exposed ductwork. The project architect is H.T.O Architect, PLLC. Printhouse Lofts amenities include a virtual doorman, video intercom system, laundry machines on all floors, bike storage and 2,500 square feet of shared roof deck space, offering 360-degree panoramic views of both

the Brooklyn and Manhattan skylines. One of the fifth floor apartments also has a 225-square-foot terrace. “Printhouse Lofts’ modern, highend finishes with industrial elements, such as exposed beams and brick walls as a backdrop, provide a design combination that is highly desired in New York City,” said David Maundrell, founder and president of “We anticipate Printhouse Lofts to be one of the top new developments of 2014, potentially setting record pricing for a conversion in Brooklyn.”

ITZHAKI PROPERTIES RENAMED EPIC COMMERCIAL REALTY Name Change to Clarify Itzhaki No Longer at Itzhaki Properties brokerage firm and a Fulltime Developer

Erez Itzhaki

Yona Edelkopf

DEVELOPER EREZ ITZHAKI announced the Keystone Group, a New York City-based real estate development firm, focused primarily on high end condos and rental buildings has changed its name to Itzhaki Acquisitions. The name change further reinforces that Mr. Itzhaki is no longer part of the brokerage firm Itzhaki Properties, which is now EPIC Commercial Realty and led by CEO Yona Edelkopf. Both companies will continue to provide their own distinctive services, but under new corporate names. Mr. Itzhaki has not been a part of EPIC Commercial Realty, a full-service commercial real estate investment brokerage firm since 2006. The name change emphasizes Mr. Itzhaki’s leadership and role at Itzhaki Acquisitions and its foothold as an active investor and developer of luxury condos, rental, retail and mixed-use buildings in New York City. Mr. Itzhaki has spent the last eight years acquiring and developing a variety of assets located in prime corridors within the New York City metro area. To date, the group has purchased more than $300 million in assets. They have successfully developed more than 14 projects in the last two years and are currently working on eight new developments. Most recently, Mr. Itzhaki purchased 100 Varick Street for approximately $130 million with partners Halpern Real Estate Ventures, Bizzi & Partners, Michael Shvo and Aronov Development. “By taking back the Itzhaki name, we can better differentiate and position ourselves as an active investment company in today’s real estate market after 20 years of experience in the business,” said Erez Itzhaki. “This is important as we aggressively look to acquire low-risk, high-reward properties and reposition them for a profitable re-sale.” EPIC Commercial Realty currently employs over 30 agents and has completed more than one billion dollars in commercial sales in the Greater New York Metropolitan area.

“As we continue to build momentum and grow as a company, we are excited to be moving forward with a strong name that represents who we are,” said Yona Edelkopf, CEO of EPIC Commercial Realty. “EPIC Commercial Realty has an extensive client list with international reach, an impressive portfolio of properties, and agents across New York City who are true neighborhood experts.” For more information on Itzhaki Acquisitions, visit For more information EPIC Commercial Realty, visit



About Itzhaki Acquisitions Itzhaki Acquisitions is a real estate development firm led by Erez Itzhaki and Gil Boosidan. Founded in 2006, the company builds and owns ground-up, high-end condos, rental, retail and mixed-use buildings in New York City, focusing on creating value in prime neighborhoods. Itzhaki Acquisitions has purchased more than $300 million in real estate assets since inception. Its full service team manages all aspects of the investment cycle including underwriting, construction, design, and asset management. Their deep domain expertise in New York City enables them to acquire valuable real estate assets, often through off-market transactions.

About EPIC Commercial Realty Founded in 2001 as Itzhaki Properties, EPIC Commercial Realty is a full-service commercial real estate investment brokerage operating in the Greater New York Metropolitan area. Led by CEO Yona Edelkopf, EPIC Commercial Realty provides comprehensive and innovative real estate solutions to investors, property owners and corporations worldwide. The company currently employs over 30 agents and has completed more than one billion dollars in commercial sales in the Greater New York Metropolitan area. • 7


REBNY CONFIDENCE INDEX: UPWARDS AND ONWARDS, REBNY BROKERS REPORT CONTINUED INCREASE IN CONFIDENCE IN FIRST QUARTER 2014 Quarterly survey of real estate brokers shows a steady uptick in broker confidence THE REAL ESTATE BOARD OF NEW YORK’s (REBNY) broker members reported a continuing growth in confidence in the first quarter of 2014. The growth in confidence builds on the positive trend going back to the third quarter of 2013. The report also reflects a similar growth in confidence for the market six months from now, according to the REBNY’s Real Estate Broker Confidence Index released today. The first quarter 2014 report showed an increase in the Overall Confidence Index to 9.21 from 9.00 compared to the last quarter. This jump is due in part to the steadily improving economy as well as the continued increase of home sales in the city’s residential market. The Overall Confidence Index showed a significant jump from the third quarter 2013 when the Index was 8.75. “Our brokers – both residential and commercial – continue to express strong confidence in New York City’s real estate market,” said Steven Spinola, REBNY President. “The continued uptick in the Broker Confidence Index is a robust sign of our members’ faith in the city’s steadily improving

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economy.” The Residential Real Estate Market Overall Confidence Index in the first quarter of 2014 was 8.80, a slight increase from last quarter’s index of 8.52, and marks the second quarter of a steadily rising Overall Confidence Index. This confidence level is much higher than anticipated in the third quarter 2013 survey when the index for the market six months ahead was 8.19. The residential brokers are equally as confident in the market six months from now. “In both the rental and sales markets, the competition is high and aggressive,” said one residential broker. “Last year we didn’t have the supply, and this year there is not as much demand as rental prices have exceeded what people are willing to pay,” another residential broker noted. The Commercial Real Estate Market Overall Confidence Index was an impressive 9.62, up from last quarter’s 9.49 and marking a continued positive trend that began in fourth quarter of 2012. Commercial Broker confidence for the market six months from now rose slightly as compared to last quarter.

This higher level of confidence in the future market has been a common view among commercial brokers, and similar to the residential brokers, they are more confident in the current market than they had anticipated. Interest rates continue to be the brokers’ biggest concern about the market. “The important aspects of the retail leasing market are the continued strength of NYC tourism,” responded one commercial broker. “The new availabilities that are coming to market in secondary corridors due to lease expirations, and continued growth in the aspirational sectors of shoe and apparel retailing are the biggest factors affecting the retail leasing market today.” REBNY’s Broker Confidence Index is a collection of data from anonymous online surveys given to REBNY’s residential and commercial brokerage division members. Survey data is tabulated on a scale of zero to ten, with five being neutral. A full copy of the REBNY Broker Confidence Index can be found at


First Quarter 2014


Confidence Present Situation 9.28

Fourth Quarter 2013




Third Quarter 2013




Second Quarter 2013




First Quarter 2013




Fourth Quarter 2012




Third Quarter 2012




Overall Confidence

Confidence Future (6 months from now) 9.16



First Quarter 2014


Confidence Present Situation 9.90

Fourth Quarter 2013




Third Quarter 2013




Second Quarter 2013




First Quarter 2013




Fourth Quarter 2012




Third Quarter 2012




Overall Confidence

Confidence Future (6 months from now) 9.41


First Quarter 2014


Confidence Present Situation 8.66

Fourth Quarter 2013




Third Quarter 2013




Second Quarter 2013




First Quarter 2013




Fourth Quarter 2012




Third Quarter 2012




Overall Confidence

Confidence Future (6 months from now) 8.91

Explanation of Index:



Saving Buildings‌And Beyond Dorothy Wasiak is an outstanding leader of PWC. Her expertise includes program development and outreach to new members. Her performance on behalf of PWC is tireless and we are most appreciative. – Lenore Janis, President, PWC National

Dorothy has excelled in giving back to the community by mentoring others. She has reached out to high schools in neighborhoods that usually don’t get much attention, and has focused on opening doors that have been traditionally closed to inner city kids. Her enthusiasm and positive attitude have had a positive and lasting impact on her charges, some of whom have since pursued careers in the real estate and construction industries. – Robbin Orbison, Chief Financial Officer, Silverstein Properties, Inc.


Starting her career as a credit manager with Allied Building Products where she oversaw an accounts receivable portfolio of four New York branches, Dorothy quickly rose to capital improvements manager at Atria Senior Living, charged with managing a capital improvements portfolio of 52 senior communities along the East Coast with a real estate value of over $800 million. But that was just the beginning. Hired as vice president of PCGNY Corp., she immediately propelled the firm’s growth, developing a rapidly growing portfolio and making the firm the “building envelope” contractor of choice. Since then, she has worked on over 100 major projects in the tri-state area including Madison Square Garden, the Empire State Building, and the United Nations International School. Today, as the director of capital planning and the senior asset manager at Matthew Adam Properties, she is responsible for the managing capital improvement portfolio for the entire company. Managing the selection process for design consultants for capital projects, Dorothy negotiates contracts with consultants for design work from feasibility through completion. These negotiations include establishing scopes of work, determining reasonable fees and approving sub consultants. Further, by overseeing and directing the design phase of capital projects from conceptual design through completion of project, Dorothy also writes, reviews and revises development controls (i.e. zoning

and design guidelines and green guidelines) to ensure the architecture is both appropriate and compatible. “I strongly believe that since most commercial buildings in NY are in great need of corrective work, implementing sustainable construction in place of conventional allows an opportunity to provide better, healthier alternatives,” Dorothy says. She also applies her beliefs and business strategy to her everyday business practices. Believing that communication with clients, colleagues and the other professionals she works with is essential, she says, “I recognize that my clients are not construction professionals. Therefore, I always try to explain the problem, the root of the problem and the various solutions. Real estate properties are our clients’ biggest investments and we need to not only maintain them, but also make them more efficient and healthier while finding ways to make those real estate assets even more profitable for our clients. I personally focus less on our competitors and more on better and unique alternatives for our clients.” And her role with Matthew Adam Properties allows her to make the most of her skills. “The decision to seek a new property management company usually comes at a time when problems have arisen with the current company and, though fearful to change, the board decides it must take action. The question is who to hire?” Dorothy continues. “Should the termination be made on price, on the presentation

A sampling of Matthew Adam Properties: 315 Riverside Drive 1001 Park Ave. 201 East 77th St. 220 East 67th St. 220 East 54th St. 230 West End Ave. 80 Park Ave. 50 Lexington Ave. 200 East 24th St. 79 West 12th St. 21 East 1st St. 199 Bowery 344 Bowery 50 Bond St. 93 Mercer St.

Dorothy Wasiak’s efforts have been such a blessing to Bronx Design and Construction Academy (BDCA). She has allowed our young women to have amazing hands-on experiences with professionals and organizations within the trades and construction industry. – Tamara Hughes, Teacher, BDCA • 11

skills of the head of the company, on the qualifications of the person you are told will be your account representative, on the roster of properties the company manages or on the recommendations you solicit?” “It’s a tough decision filled with many intangibles, but a very important one. Matthew Adam Properties understands the dilemma boards confront, and while we don’t promise miracles, we do promise to provide an increased quality of life all the building’s residents.” Matthew Adam Properties’ Strategic Management Program, in fact, represents a sound adaptation of the firm’s business principles. A planned approach to property management, it reduces unwanted surprises and gives the board of directors comfort in knowing that important concerns are being addressed and will be resolved. “This is done by taking a long-term view of a property which helps considerably in identifying and financing major capital improvement projects,” Dorothy says. “We develop five-year programs so major projects are spread out to ease the financial burden on the association and its individual shareholders or unit-owners. Sound financial planning takes into account maintaining an adequate reserve fund for use in emergencies or to pay for capital improvements.” The firm’s Green Management Program, specifically, eliminates the use of toxic chemicals, reduces dangerous carbon emissions and saves money. The program also continuously analyzes new products and methods and recommends those they believe have merit. This often results in numerous government grants and tax savings available for certain conservation installations, the firm therefore advises boards on how to qualify for these. Based upon the firm’s extensive knowledge of energy procurement, combined with its bulk

purchasing power, the firm can purchase oil, electricity and gas at excellent rates for its properties. “Unlike many of our competitors who add a charge for their services, all the savings goes to our clients, and this can be considerable,” Dorothy adds.

A PASSION TO HELP Beyond Dorothy’s commitment to her clients and the industry-at-large, which she also does as a regular construction/ real estate contributor to NYREJ, she also has a passion for helping other women in the field, as well as young women

of Directors, Dorothy established and runs the organization’s Continuing Education program offering AIA-HSW CEUs for property managers, engineers and contractors, which are held every month, and covers everything from sustainability to Local Law 87 to energy efficiency. Also, Dorothy launched and heads its Mentorship committee, and has mentored high school students in construction programs at the BDCA (Bronx Design & Construction Academy). Specifically, she works with A & E firms and private companies on scholarships and paid internships; took students on an informative trip to the WTC active construction site where the students had a chance to tour the Freedom Tower and sign their names on the 87th floor’s newly constructed wall. She also works with vendors and business partners on introducing “the industry” to these young adults, allowing them to learn about various professions within the construction/real estate industry. Last May, under Dorothy’s guidance, Kemper System sponsored a trip for the students to its manufacturing facility in Buffalo, NY, where the girls had a chance to learn about logistics and how waterproofing products are made, and she is presently planning a visit to the Wyndham Hotels Headquarters in Parsippany, NJ to view their LEED buildings. This will enable the students to learn about the importance of sustainability as well as global construction management. “I am extremely passionate about helping others, especially kids. Making a difference in somebody’s life is priceless.” Dorothy says. “Even if just one of the girls reached out to me in 20 years to let me know that I helped make a difference in her life…that would be priceless!” I have a feeling, Dorothy, that there will be many more than just one.

I’ve known and worked with Dorothy for several years now. I have grown to trust and respect her intuitive approach to management, as well as her outright honesty. She tells it like it, period – no soft sell there. Her business acumen and ability to convince you to see it her way is amazing. I congratulate her on this great achievement and look forward to seeing her take over the world. – Julio Ravelo, R.A., Vice President, Thorton Tomasetti

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consider the industry as one to pursue. As a result, she received an Achievement Award from PWC (Professional Women in Construction) in 2007. Further, through the Green Roofs for Healthy Cities program, she helped conduct one of the first green roof seminars in NYC in 2006-2007, and received public acknowledgement by Boro President Scott Stringer for successfully doing so. Most recently, in 2014, she was selected by ENR (Engineering News Record) as one of ‘20 Under 40’. The Penn State Alumni Association featured her story and professional success in December, 2013 Further, as a member of PWC’s Board

Matthew Adam P R O P E R T I E S ,

I N C.

Congratulates our

Dorothy Wasiak, LEED GA Director of Capital Planning Senior Asset Manager On being named a

Top Woman in Commercial Real Estate

Matthew Adam Properties, Inc. 127 East 59th Street • New York, NY 10022 212-699-8900 Ira Meister – Founder and President Management • Brokerage • Consulting

Commodity Supply Demand Response & Virtual Generation

Energy Integration

Project Funding Alternatives

Sustainable “Green” Energy

Energy Services

Tribute Inc. congratulates

DOROTHY WASIAK on her achievements and outstanding performance.

▪ ▪ ▪ ▪ ▪ ▪ ▪

Electricity Natural Gas Automated Demand Response Programs Energy Savings Performance Contracting Design-Build Solar Power, Wind Power Power Purchase Agreements


We wish her a lifetime success.

SHERI BEST Pier Head Associates

JANE GUSTAFSON Studios Architecture


LAUREN BRUST Steven Winter Associates


TERRY PISSI Anchin, Block & Anchin LLP

FRANCESCA BUCCI BG Studio International


SARA QUEEN Brookfield Office Properties

CRYSTAL DENUNZIO Theodore Williams Construction

ESTHER KOPEL Sutton Alliance


COLLETE ENGLISH DIXON Prudential Real Estate Investors

CATHERINE LUTHIN Luthin Associates

DIANE FIELDS Empire State Realty Trust

ALLYSON MARTIN Aon Risk Solutions

(Cover Story)

Matthew Adam Properties • 15

Sheri Best

Pier Head Associates


By thinking outside the box we were able to open new markets in a challenging economic time. One technique was to view competition as potential strategic partners. We’re now utilizing teaming agreements and joint ventures in sectors where previously we would have seen barriers to entry.

After attending American University in Washington, DC, Sheri completed undergraduate studies with a BFA from Douglass College, Rutgers University. She spent several years doing free-lance work in the world of non-profits, and through a series of backdoors, ended up in construction and general contracting. Sheri began with G.P. Winter Associates, then moved to Two Bridges Associates, both GC firms performing historic restorations on pre-war apartments, brownstones and townhouses, including additions and extensions. Her work included cost-accounting analysis, and office administration, then evolved to become Special Projects Coordinator managing relations with local labor coalitions, clients and vendors during the historic restorations of Westminster Hall in Harlem, and the River House in Snedens Landing, Palisades, NY. Once joining Pier Head in 1995, Sheri co-wrote a software program serving as a highly customized version of the AIA Applications for Payment with unique reporting capabilities useful on high end residential projects. She immersed herself in every aspect of the business and became a partner in 1999. Sheri was the driving force for developing a Commercial Division. The initial opportunities came out of

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the Malkin Portfolio, and the Empire State Building. Pier Head’s work now includes a wide range of residential and commercial interiors for some of NYC’s premier Property Owners, Managers, Developers and Investors. Sheri is known to have a wide network of relationships in the industry, as well as in charitable and investor communities. She excels at facilitating strategic partnerships, enabling high-level team building. She is an outside-the-box thinker for trouble-shooting and logistics. She looks for the win-win for all stakeholders. She is skilled at structuring contracts and collaborations. Sheri has Chaired and Co-Chaired special events and fundraisers within the communities of Women, Real Estate and Construction, benefitting many causes including Bottomless Closet and “NEW”- NonTraditional Employment for Women. Sheri Best is a new member of NYCREW, is on the Board of R.E.N.T.- Real Estate Network and Transactions, and a Board Member of HSI, Housing and Services Inc. She has served in leadership and Board positions within Rotary International over the years, supporting Ronald McDonald House, the Fabretto Organization, and many International programs, focused on women, children, health, and education.

Lauren Brust

Steven Winter Associates, Inc.


I bridge the gap between the priorities of building owners and of the environment, and look at each building as a living, breathing property.

Lauren Brust is the Director of Commercial Building Energy Services at Steven Winter Associates, Inc. (SWA), where she manages her team in executing highperformance and sustainable building projects for existing commercial buildings. Ms. Brust specializes in sustainable capital plan development, energy management strategy, and energy auditing services. In her work with clients, Ms. Brust prioritizes and balances the multiple goals that accompany large-scale building and portfolio projects, including energy improvements, feasibility, compliance, certification, and cost considerations. Under Ms. Brust’s leadership, her team at SWA has performed energy audits and retro-commissioning on more than thirty million square feet of commercial space in the last three years. In addition, they have worked with building owners and managers to assess the feasibility of achieving LEED® for Existing Buildings: Operations & Maintenance™ certification at properties throughout the

northeast states, totaling over five million square feet. Ms. Brust has expanded SWA’s relationship with various state and utility incentive programs, connecting more clients to funding for pursuing energy audits, technical building studies, and minor to major capital upgrades. She is part of the Urban Green Council Speakers Bureau for New York City’s Local Law 84 and Local Law 87, helping building owners and managers to understand the local laws and achieve compliance. In addition, she manages SWA’s team for the NYSERDA Buildings Outreach program, where she navigates commercial projects through the incentive program for energy-efficient upgrades. Ms. Brust is an active member of industry organizations such as BOMA NYC, Hotel Engineers Association on NYC, BOMA Westchester, and others. She has an undergraduate degree from Columbia College and a Masters in Urban Planning from New York University. • 17

Francesca Bucci BG Studio International

As experts in interior architecture of cruise ships, we understand that life at sea has to incorporate perfect design, since the audience is a captive one. Essentially, we create architecture that moves the sea!


Born and raised in historic Rome, Francesca Bucci’s traditional Italian education inspires her portfolio, and she has worked and lived in Rome, Paris, Washington DC and New York City. Fluent in Italian, French and English, Francesca is a skilled communicator. Her knowledge of global architectural and construction practices, her talent for diplomacy, and her ability to build collaboration and inspire team members are invaluable assets on every project. She dedicates some of her time to do pro-bono work for non-profit organizations and volunteering for charitable causes. Francesca has a special talent for balancing a sophisticated aesthetic with stringent technical requirements and seamless project management. Her design style blends her classical training with the contemporary context, the urban environment and the energy of New York City. Francesca holds a Masters Degree in Architecture from the University of Rome, and a Diploma of Construction Management from New York University. She is a member of the American Institute of Architects as an Associate, the Association of Real Estate Women, Professional Women in Construction, and an Honorary Member of the Society of British Interior Designers.

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Crystal Denunzio

Theodore Williams Construction Company, LLC


For every relationship we establish, we gain 15 more. At TWCC we strive to find a complimentary fit between our client and our team of skilled craftsmen.

Over the past 30 years Crystal’s career has taken her from the United States to Europe and back. She has held executive level management positions in the Advertising Division with both Landmark Media Enterprise and The Gannett Companies where she focused on increasing sales through team motivation and the creation of incentive programs. She developed high-performance, low turnover teams by identifying and nurturing internal talent and promoting successful leaders at every level. Several years later, as General Manager of Duty Free Americas stores in several airports, Crystal was tasked to work directly with the internal Duty Free Americas’ construction team as well as the expansion of retail brands such as Salvatore Ferragamo, Cartier, Chanel, and Bulgari to name a few in the build-out of new stores in the Washington, D.C. area. During this time she met Shelby Johnson, President of Theodore Williams Construction Company, LLC who was overseeing the refurbishment of numerous Bulgari stores throughout the country and a new business friendship developed. In 2007, Crystal joined Theodore Williams Construction

Company, LLC, as Vice President of Business Development. Established in 1972, Theodore Williams Construction Company, LLC, is a full service, certified woman owned business enterprise, specializing in interior alterations, restoration and base building construction. Williams’ professional staffing and computerized systems have been carefully developed over the years in order to manage the most complex of projects with absolute efficiency. The unique blend of experience, quality, personal service and leadingedge technology systems ensures completion of work in precise accordance with, or ahead of, the client’s projected occupancy date. The latest projects have included work for Rudin Management Company, Inc., Blackstone, and Regus. Now focusing her attention on the construction industry, her specialty is in developing business relationships which are of mutual benefit to both parties. Crystal has a proven track record in specialty and high volume environments and has managed accounts up to $100 million in volume. Actively participating as the Sponsorship Committee co-chair for the New York Crew and as a member of the board for Boys Town New York, Crystal enjoys making new business and personal connections and giving back to the community. • 19

Crystal Denunzio

Theodore Williams Construction Company, LLC


For every relationship we establish, we gain 15 more. At TWCC we strive to find a complimentary fit between our client and our team of skilled craftsmen.

Over the past 30 years Crystal’s career has taken her from the United States to Europe and back. She has held executive level management positions in the Advertising Division with both Landmark Media Enterprise and The Gannett Companies where she focused on increasing sales through team motivation and the creation of incentive programs. She developed high-performance, low turnover teams by identifying and nurturing internal talent and promoting successful leaders at every level. Several years later, as General Manager of Duty Free Americas stores in several airports, Crystal was tasked to work directly with the internal Duty Free Americas’ construction team as well as the expansion of retail brands such as Salvatore Ferragamo, Cartier, Chanel, and Bulgari to name a few in the build-out of new stores in the Washington, D.C. area. During this time she met Shelby Johnson, President of Theodore Williams Construction Company, LLC who was overseeing the refurbishment of numerous Bulgari stores throughout the country and a new business friendship developed. In 2007, Crystal joined Theodore Williams Construction

Company, LLC, as Vice President of Business Development. Established in 1972, Theodore Williams Construction Company, LLC, is a full service, certified woman owned business enterprise, specializing in interior alterations, restoration and base building construction. Williams’ professional staffing and computerized systems have been carefully developed over the years in order to manage the most complex of projects with absolute efficiency. The unique blend of experience, quality, personal service and leadingedge technology systems ensures completion of work in precise accordance with, or ahead of, the client’s projected occupancy date. The latest projects have included work for Rudin Management Company, Inc., Blackstone, and Regus. Now focusing her attention on the construction industry, her specialty is in developing business relationships which are of mutual benefit to both parties. Crystal has a proven track record in specialty and high volume environments and has managed accounts up to $100 million in volume. Actively participating as the Sponsorship Committee co-chair for the New York Crew and as a member of the board for Boys Town New York, Crystal enjoys making new business and personal connections and giving back to the community. • 19

Collete English Dixon Prudential Real Estate Investors


My role allows me to be involved in every product type and every real estate market that the firm has invested in.

Collete English Dixon is Principal,Transactions, for Prudential Real Estate Investors (PREI), a business unit of Prudential Financial. She is a co-leader of PREI’s national investment dispositions program. For 2013, the team oversaw the disposition of more than $2 billion of assets. Previously, Ms. English Dixon was responsible for sourcing wholly-owned and joint venture real estate investment opportunities in the Midwestern markets covering all property types, including office, multi-family, hotel, industrial and retail properties. Ms. English Dixon is a graduate of the University of Notre Dame, a Past President of CREW Network, a Past President of CREW Chicago and Past Chair of the CREW Foundation, a full member of ULI and Assistant Chair of the Urban Development Mixed Use Council-Purple. She is also a member of the Advisory Council for the Chicago School of Real Estate at the Walter E. Heller College of Business Administration, Roosevelt University and serves as chair of the advisory council for the Goldie Wolfe Miller Scholarship Fund. Additionally, Ms. English Dixon serves on the Board of Directors for the Oak Park River Forest Food Pantry. She was named a Woman of Influence for 2011 and a Legend in 2013 by Real Estate Forum magazine and received honorable mention as 2011 Female Leader of the Year from Commercial Property Executive magazine.

20 •

Diane Fields

Empire State Realty Trust


Simply said, I love what I do. I love the high-energy, dynamic nature of property management and operations. Every day presents a new challenge that fuels motivation. I work with passionate, successful, supportive, intelligent, hard-working people who inspire me to strive for excellence. This drives constant improvement to perform at our highest levels for our investors, clients, brokers and tenants.

Diane Fields, RPA, is a portfolio manager at Empire State Realty Trust, Inc. (NYSE: ESRT), a leading real estate investment trust that owns, manages, operates, acquires and repositions office and retail properties in Manhattan and the greater New York metropolitan area. Ms. Fields oversees operations and maintenance for four of ESRT’s Manhattan buildings: One Grand Central Place, 1333, 1350 and 1359 Broadway. She first became involved with the portfolio in 2006, when she became building manager at 1350 Broadway under the auspices of Newmark Grubb Knight Frank, the property’s managing and leasing agent. Five years later, she was named portfolio manager for the three Broadway buildings. In December 2013, she became an employee of ESRT. Ms. Field’s contributions to ESRT were broadly recognized in 2012, when she was nominated for the Building Owners & Managers Association of Greater New York’s Manager of the Year. Earlier in her career, Ms. Fields served as an assistant property manager at Newmark Grubb Knight Frank, supervising more than 16 staff members at eight buildings totaling 638,000 square feet. Ms. Fields holds an associate arts degree from St. John’s University in Queens, New York. In addition to her work responsibilities, she serves as a chair of the St. Jude’s Children’s Research Hospital Kids for Kids Committee. • 21

Jane Gustafson STUDIOS Architecture


In my very first business meeting, when I started out in architecture, I was the only woman at the conference table. Now there are more women in leadership positions, and clients expect women to be on the team.Things have certainly changed.

Jane Gustafson brings over 35 years of exceptionally varied experience to her work in commercial interiors, design, construction, and strategic planning. She has significant experience in the management of large scale projects both in the public and private sector. Currently she is a Senior Project Manager and Associate with STUDIOS Architecture in Washington, DC and is an integral member of the GSA Workplace Strategy Services Program. Ms. Gustafson’s workplace analysis and unique cross industry experience in design and construction as brought a distinct perspective to federal projects. The GSA National Headquarters prototype office concept was recognized by CoreNet for office innovation. The concept design and strategic plan for the USDA Forest Service Headquarters in the 135 year old Yates Building created a modern workplace. In the early 90’s Ms. Gustafson joined the URS Corporation in Washington as the Interior Department Manager leading a broad range of successful projects over an 11 year period. The 1.5 million sq. ft. Pentagon basement and mezzanine renovation allowing for the location of all military services command and operations centers on one floor. URS in collaboration with Shalom Baranes Associates managed the renovation of the Pittsburgh

22 •

Federal Courthouse and the project received a GSA Design Award. The Federal Reserve Board, executive dining facility, and programming and renovation projects through the Architect of the Capital for the Rayburn House Office Building, Cannon House Office Building, Ford Office Building and the Longworth Building required the integration of all disciplines. Ms. Gustafson also worked in New York City for outstanding firms including Gensler and HOK, serving as the Interior Project Director for the Mobil Corporation Headquarters two phase relocation to Fairfax, VA. She was a Vice President at the Chase Manhattan Bank and the Interior Manager for the 1.8 million sq. ft. Chase Financial Services Center at the MetroTech Center, Brooklyn, NY that housed over 5,000 employees. Ms. Gustafson holds a BS in Interior Environmental Design from Michigan State University and has studied interior architecture and construction at Pratt Institute. She is long standing member of CREW DC and was a former Treasurer and Communications Director, and is currently active with the CREW Foundation. Professionally she is a member of ASID, ARIDO and NCIDQ and has also served as a national juror for NCIDQ. Most recently she is involved with the Beverly Willis Architectural Foundation in New York City as an advisor.


Tami Hausman Hausman LLC


Through effective communication, we transform our clients’ businesses -- it’s the best strategy for building influence in the international marketplace.

Founder and president Dr. Tami Hausman is an expert advisor to the international design community. She created Hausman LLC as a way to help real estate, design, and creative professionals broadcast their influence. For nearly 25 years, Dr. Hausman has been collaborating with firms located in the United States and abroad who seek out her insights and assistance in communications for real estate projects. Dr. Hausman founded Hausman LLC in 2008. As the recession deepened, firms turned to Hausman LLC to increase their visibility as they were struggling to overcome the challenges of the economy. Before establishing Hausman LLC, Dr. Hausman worked for Kohn Pedersen Fox, Skidmore Owings and Merrill, Cooper, Robertson & Partners, and other preeminent architecture firms. Today, Hausman LLC is a top strategic and communications consulting firm for a diverse roster of clients, including international developers, architects, engineers, construction firms, law firms, expeditors, furniture distributors, insurance companies, artists, and non-profit organizations. Her clients work on all types of commercial real estate facilities, including corporate headquarters, office buildings, innovative workplaces, hospitals and medical centers, retail, and restaurants.

Dr. Hausman positions her clients’ knowledge and expertise to best advantage and opens doors to targeted audiences that strengthen their position in the marketplace. She has helped firms that are “flying under the radar” to build their reputations and grow their revenues. In addition, Dr. Hausman is often tapped to create public relations campaigns for iconic structures, such as the Statue of Liberty and Carnegie Hall. A widely recognized authority on communications, Dr. Hausman lectures frequently at national conferences. In addition, she is an architectural historian whose work has appeared in Urban Land, Design Intelligence, Oculus, Metropolis, and The Architect’s Newspaper. Currently, Dr. Hausman is a board member of DOCOMOMO New York/Tri-State and the Forum + Institute for Urban Design. She has served as a board member of SMPS-NY, an advisory board member of the Beverly Willis Architecture Foundation, and as head of the public relations subcommittee of the Marketing and Public Relations Committee, AIA New York Chapter. Dr. Hausman has a Bachelor of Arts, magna cum laude, from Brown University in Semiotics-French and a Master of Arts and Ph.D. in Art History from New York University’s Institute of Fine Arts. • 23

Amelia Janisz EZ Building EHS


My firm looked at how people manage buildings throughout the U.S., and I found a list of things that buildings consistently do wrong. Now, a building manager can go online and ask us anything and we will provide them with the right answer.

Amelia Janisz is CEO and President of Easy Building Environmental Health and Safety (EZBuildingEHS), a service of Green Reviews. She designed and managed development of a unique web-based proactive environmental, health and safety (EHS) expert system for building managers. EZBuildingEHS provides building managers with no or little environmental background a simple way to identify EHS requirements applicable to their facilities. She was one of two technical experts on revisions to the BOMI International Environmental, Health and Safety Issues training course. Amelia has managed over a thousand multi-media EHS compliance audits at commercial office buildings, laboratories, data centers,

24 •

and vehicle maintenance facilities ranging in size from 5,000 to 2,000,000 square feet in 40 of the 50 states and two US territories and possessions. Ms. Janisz is a member of NYCREW, the Pratt Institute Professional Advisory Council for the Facilities Management Masters Degree and the Building Owners and Managers Association of Greater New York Energy and Sustainability Committee. She is actively involved Urban Green, the New York City chapter of the US Green Building Council. She has a MA from the City College of the City University of NY in Ecology and a Bachelors degree in Biology from the University of Detroit Mercy.

Esther Kopel Sutton Alliance


My background is in math and computer science, so it’s no surprise that I enjoy solving problems. I like to sit down with a title report and try to come up with solutions to issues that are problematic to our clients. It’s very much like completing a difficult crossword puzzle.

Esther Kopel is a founding member and Chief Operating Officer of Sutton Alliance, LLC, a company that specializes in real estate transactions. Sutton Alliance comprises numerous entities, notably Sutton Land Title Agency, Sutton 1031 Exchange Services and Progressive Closing & Escrow Company. Esther describes herself as a former nerd, who taught math and computer science courses at Wagner College and Brooklyn College, and somehow ended up in the business world. Together with her husband, Howard, Esther founded Sutton in 1985, during a hiatus from her graduate studies and her teaching job. Once Esther and Howard started their business, she never looked back. Together with Howard and their two subsequently acquired partners, Esther took a local, Brooklyn-based title agency and turned it into a national title and settlement powerhouse, licensed in over 35 states. As much as she has been involved in Sutton’s growth, she still enjoys puzzling over difficult title issues

and helping clients figure out a way to get deals closed. Some of the notable commercial properties on which Sutton insured title in the past include 2 Herald Square, 6 Times Square and 14 Wall Street. As one of the region’s foremost authorities on national title issues, complex underwriting procedures, compliance, and customer service excellence, Esther’s attention to detail and her talent for assessing clients’ policies and systems has made her an invaluable resource for the company and its clients. She has assisted numerous client banks in structuring complex deals and has frequently conducted seminars for various lender client management teams throughout the country. She is also fiercely devoted to her family and tries to spend as much time as possible with her four children and nine grandchildren. Esther graduated Summa Cum Laude from Brooklyn College of the City University of New York with a B.S. in Computer and Information Science. • 25

Catherine Luthin Luthin Associates

Every time utility companies want to raise the rates, I am at that table, and I say ‘Not so fast!’


Catherine Luthin has over 30 years of financial and energy management experience within the corporate, governmental, non–profit and regulatory environments. She is the President and founder of Luthin Associates, an energy management consulting firm that proactively manages energy procurement and sustainability services for its clients. This is accomplished by delivering cost savings based upon innovative thinking and process improvements for the educational, health care and real estate industries. Catherine also chairs and manages Consumer Power Advocates (CPA), an association of large, non-profit institutions whose primary goal is to decrease the cost of energy by focusing on regulatory decisions and programs which impact energy consumers in New York State. CPA members include seven of the largest employers in NYC and five of the six largest medical institutions in the region. Catherine was a member of former Mayor Bloomberg’s New York City Energy Policy Task Force and is currently a member of BOMA NY’s Energy Com-

26 •

mittee, the Association of Energy Engineer’s Certified Energy Procurement Board, and she is Energy Policy Chairperson for the Association of Energy Engineer’s Council on Women and Environmental leadership. Catherine has also taken leadership roles in many women mentoring programs. In 2002 Catherine was named “Energy Service Professional of the Year” for the State of New York and in 2004 was named international “Energy Service Professional of the Year” by the Association of Energy Engineers. In addition, Luthin Associates has been awarded as one of the Top 100 Diversity Businesses in New Jersey and Outstanding MWBE by Anchin in 2012. They also received Anchin’s Outstanding Advocacy Award in 2013. Catherine has also been a guest lecturer at CUNY‘s Institute for Urban Systems, Cornell University, and Columbia University’s Environmental and Energy Policy Department. She is a results-focused and effectual leader with proven ability to develop and implement energy management initiatives within major New York institutions.

Allyson Martin Aon Risk Solutions


I enjoy my work due to the creativity involved in utilizing intangible products of insurance to protect tangible assets such as real estate.

Allyson Martin is a real estate and insurance expert with more than 30 years of experience in the financial services sector. As a Senior Vice President and producer with Aon Risk Solutions. Martin specializes in real estate and private equity risk, supporting global/domestic clients on important issues. Prior to joining Aon, Martin held real estate practice leadership positions at Marsh and William Gallagher Associates. Prior to these leadership positions, Martin served as the risk manager for Eastdil Realty Inc., Nomura Securities’ real estate investment banking arm, the legal coordinator at Schroder Real Estate Associates and the Sales Leader at Douglas Elliman Insurance Brokerage Corp. and Distinguished Properties Insurance Brokerage Corp. At Aon, in addition to helping clients create comprehensive Risk Management Programs, Martin is most excited about transactional insurance coverage that help close deals such as Reps and Warranties Insurance, Tax Opinion Insurance and Regulatory Insurance. Martin has been recognized as a leader both at Aon and Marsh. At Aon, she qualified for the Excellence Round Table for producers with $1 million of production. At Marsh, Martin was awarded

the leading sales professional in the Northeast Region for the Middle Market and one of the Top Ten Producers for the Middle Market nationally. Martin is currently on the board of WX, New York Women Executives in Real Estate which is an invitation only organization for women with a minimum of 10 years of real estate experience. She has chaired WX’s Annual Gala for the past two years. Martin has held memberships in The Association of Real Estate Women; The Real Estate Board of New York and the National Council of Real Estate Investment Fiduciaries (NCREIF) where she was the former Risk Management Committee Chairperson responsible for spearheading the creation of property and professional liability insurance programs for the nation’s top real estate investment advisory firms;. She is published in IREM’s Hot Topic, “Reducing Your Risks”. Allyson holds a Masters of Business Administration from Stern School of Business at NYU specializing in Marketing and a BA in Political Science from Hobart & William Smith Colleges. She holds the CPCU (Chartered Property and Casualty Underwriter) and ARM (Associate in Risk Management) designations. • 27

Sherida Paulsen PK+SB


My career allows me to combine politics with art. It’s about the architecture, but I also enter each project as a member of the surrounding community since all construction will disrupt someone’s life. And I make sure they know the impact on their daily lives will be minimized.

Sherida E. Paulsen, FAIA is a Principal at PKSB Architects in New York City. In over 30 years of practice, Paulsen has won consistent praise for her balanced approach and broad perspective on architecture, urban design, and development through experience as an architect, developer and civic leader. Her innovative combination of vision and pragmatism led to her appointment as Commissioner and then Chair of the NYC Landmarks Preservation Commission. Ms. Paulsen earned her Master of Architecture degree at UCLA, and began her career in New York City over 30 years ago. Her office experience includes work for Johnson/Burgee Architects, working directly for the legendary Philip Johnson on his own apartment, Skidmore Owings and Merrill, and Ehrenkrantz, Eckstut and Kuhn (now a Perkins Eastman Company). In addition, she worked at Forest City Ratner Companies as Director of Architecture. Her architectural work has always included projects with civic connections, and deep discussion with city agencies regarding the balance of development with neighborhood needs. Improving the public realm is a cause that Sherida Paulsen has championed throughout her career. She has taken an active role in advocating for design excellence and has helped to illus-

28 •

trate how to shape contemporary buildings of high architectural distinction. As a leader with responsibility for a local – indeed a national -- architectural legacy, Paulsen has emphasized that preservation can set standards for the development of innovative design. She has excelled in designing projects that champion adaptive reuse – finding new uses for old spaces. The new Puck Penthouses at the iconic Puck Building and the transformation of office space at the Brooklyn Municipal Building into a lively retail streetscape are recent examples of her important work. She has served the City of New York as a founding director of the Governors Island Preservation and Education Corporation. She was the 2009 President of the AIA New York Chapter, and has served as the Chapter’s Vice-President for Public Outreach and Co-chair of the Historic Buildings Committee. Ms. Paulsen has also served as Chair of the Van Alen Institute Projects in Public Architecture and President of WX Women Executives in Real Estate. In addition, she is currently a Director of the New York Convention Center Operating Corporation, Chair of the Riverdale Nature Preservancy, and serves on the boards of the AIA New York State, Center for Architecture Foundation, Landmarks Preservation Foundation, Van Cortlandt Park Conservancy, and is a member of the AIA College of Fellows.

Terry Pissi

Anchin, Block & Anchin LLP Working closely with my clients, I understand their needs and goals. With that knowledge, I am able to help them make smart business decisions, analyze the financial impact, and grow a successful business. This is extremely rewarding for me and I love being a resource for them.


Terry Pissi, CPA, is an accounting and audit partner at Anchin, Block & Anchin LLP with more than 30 years of experience. She advises clients in a range of industries including construction, real estate, and distribution. Terry takes great pride in truly understanding her clients’ businesses and concerns and how those issues affect their personal financial goals; she asks the right questions, listens closely, and responds proactively to her clients’ needs. Terry’s assistance in business succession has helped many clients over multiple generations. She is deeply involved in the career development of Anchin’s professional staff, by providing training and mentoring. Terry chairs both the CARE Committee, which organizes the Firm’s charity and recreational events, and AWIN, Anchin Women’s Initiative Network, which focuses on the professional development of the women in the Firm. Terry has spent her entire professional career at Anchin, having joined the firm as an intern while in college. She is a member of the American Institute of Certified Public Accountants (AICPA), Professional Women in Construction (PWC) and The Women’s Financial Group (TWFG). Terry has a B.B.A in Accounting from Baruch College. • 29

Sara Queen

Brookfield Office Properties


By being in asset management I get to do everything. I touch every aspect of the buildings, and am very good at keeping a lot of irons on the fire.

Sara Queen joined Brookfield as Senior Asset Manager in 2006, a new position in the company. She was integral in the smooth integration of the $7.2 billion Trizec acquisition, streamlining and optimizing leasing and operations efforts. Currently, Sara is responsible for Asset Management of Brookfield Office Properties’ U.S. portfolio, which comprises 60+ buildings encompassing 45 million square feet in the downtown cores of New York City, Boston, Washington DC (including suburban Maryland and Virginia) Houston, Denver, Los Angeles, Seattle, and San Francisco. She is the chief company representative and liaison with co-investors in the U.S. Office Fund, the Downtown Los Angeles Fund, as well as other joint venture partnerships. Furthermore, Sara is responsible for the company’s occupancy profile and its annual strategic planning/ budgeting. She also oversees the Lease Administration group and serves on the Global Asset Management and the Executive Committee for U.S. Commercial Operations. Prior to joining Brookfield, Sara was Senior Vice President at Clarion Partners, the New York City-

30 •

based real estate management and advisory services firm, in charge of managing a $1.9 billion portfolio of commercial properties. This included 35 office, industrial, retail and multifamily assets located nationwide. Previously, Sara worked for Metropolitan Life Insurance, and spent five years with the company in roles of increasing responsibility in the investment and asset management groups. Sara has an MBA from the Harvard Business School and a BA cum laude in Economics and History from Wellesley College. She was named to the prestigious “40 under 40” list by Crain’s NY Business (2008); a Woman of Distinction by the Girl Scout Council of Greater NY and a 2009 Woman of Influence by Real Estate Forum. Sara is a member of the Board of Directors for WX (New York Women Executives in Real Estate), Grace Church School (Manhattan), and Solar One. In addition, Sara is the Co-Chair of the Real Estate Tech Forum. Sara also is an adjunct professor at Columbia University’s Master of Real Estate Development Program, teaching Asset Management and Property Ownership.

MNS New Development Report 1Q2014 Manhattan New Development Report 1Q14

MARKET SNAPSHOT Market Snapshot Year-Over-Year Median PPSF


Quarter-Over-Quarter Median PPSF


Year-Over-Year Median Sales Price


Quarter-Over-Quarter Median Sales Price


Manhattan New Development Sponsor Sales

11.5% from last quarter

Neighborhood with the Most New Dev Sales

Upper East Side - 21% of Manhattan New Dev Sales

Total New Development Sales Volume

17.4% to $763.6 Million from $923.9 Million in 4Q13

Largest Quarterly Up-Swing

Largest Quarterly Down-Swing

PPSF $1,336/SF from $1,083/SF Sales Price $1,257,538 from $1,075,000

PPSF $1,183 from $1,724 Sales Price $967,337 from $3,054,750

Financial District


Highest New Development Sale

212 West 18th St. – Apt# PH5 - $14,225,000 million Highest New Development Sale PPSF

25 Columbus Circle – Apt# 60A – $5,662 PPSF

Market Summary The first quarter of 2014 saw a decrease of -9.3% in sales of New Development Condominiums from the previous quarter but an increase of 4.1% in Median Price per Square Foot. Median pricing dropped from $1,837,941 to $1,667,556 while Median Price per Square Foot rose from $1,472 to $1,533. Not including Harlem, Median Price per Square Foot was $1,659.79 and Median Pricing was $1,832,850. The number of sales from the previous quarter dropped -11.45% from 332 to 294 and the overall dollar volume for Sponsor sales dropped -17.35% from $923,875,249 to $763,563,970. This can be attributed to low absorption rates in the borough due to a lack of condominium inventory in 4Q13 which was caused by high absorption rates in 3Q13. Harlem, Upper West Side, and Upper East Side continue to have the highest number of sales while FiDi made a comeback in the number of Sponsor sales since last quarter. Pricing per Square Foot as well as Sales Pricing for FiDi also increased due to a higher demand and inventory of upper market One-Bedroom units compared to last quarter.

page 4 • 31 Chelsea 212.721.2500

Gramercy Park 212.475.9000

Williamsburg 718.222.1545

Williamsburg 718.222.0211

189 8th Avenue, New York, NY 10011

115 East 23rd Street, New York, NY 10010

165 Bedford Avenue, Brooklyn, NY 11211

40 North 6th Street, Brooklyn, NY 11249

MNS New Development Report 1Q2014 Manhattan New Development Report 1Q14

MARKET SNAPSHOT Market Up-Swings The Upper East Side again experienced the most sales of any Manhattan neighborhood in 1Q14. A large majority of these transactions (65% of all UES sales) were Three-Bedroom units in condos from 60th-80th Street - Median Price per Square Foot increased 7.3% compared to 4Q13 from $1,838 to $1,973. New Developments in FiDi accounted for 12% of total sales and performed very well compared to last quarter with a majority of One-Bedroom unit sales. Median Price per Square Foot increased 23.4% from $1,083 to $1,336 and Median Pricing jumped 17% from $1,075,000 to $1,257,538 compared to 4Q13.

Market Down-Swings Gramercy Park, which accounted for 5% of all new Sponsor sales in the borough, experienced drops in Median Price per Square Foot of -17.8% and Median Sales Price of -29.3%, continuing a negative trend from last quarter. This is due to a lack of high price-point marketing units in 18 Gramercy Park South which were sold in the last two quarters. The downturn is also partially due to a decrease in available units in 323 Park Avenue South which accounted for 71.4% of all Two-Bedroom units sold in Gramercy Park in 4Q13. Inventory Analysis Following a surge of marketing units in 4Q13, the number of New Development Sponsor sales in Midtown East dropped from 11% of total borough sales to 2% in 1Q14. The forward looking market of Manhattan New Development Sponsor sales will continue to see higher offering prices due to the lack of inventory in most neighborhoods. The number of available units in Harlem can be expected to remain relatively stable due to a large number of new developments currently in progress. In tracking the neighborhoods that sold the most amount of 1Q13 new development inventory per unit size:


Studios Harlem


One Bedrooms Financial District


Two Bedrooms Upper West Side


1,500 + SF Upper East Side

page 5

32 • Chelsea 212.721.2500

Gramercy Park 212.475.9000

Williamsburg 718.222.1545

Williamsburg 718.222.0211

189 8th Avenue, New York, NY 10011

115 East 23rd Street, New York, NY 10010

165 Bedford Avenue, Brooklyn, NY 11211

40 North 6th Street, Brooklyn, NY 11249





We s

Ch Gr els am ea e Gr rc ee yP nw ar k ich Vi lla ge Ea st Vi lla ge Lo So we Ho rE as tS id e T riB Fin eC an a tia l Ba Di str tte ict ry Pa rk Ci ty


ra yH



to wn



to wn















rW es





























Ha rle m rW e st Up S pe id e rE as tS M id id e to wn W M es id t to wn Ea st M ur ra yH ill Ch Gr els am ea er Gr cy ee Pa nw rk ich Vi lla ge Ea st Vi lla ge Lo So we Ho rE as tS id e T riB Fin eC an a tia l Ba Di str tte ict ry Pa rk Ci ty pe

Up $




1,336 $


1,149 $





1,976 $












MNS New Development Report 1Q14 Manhattan New Development Report 1Q14

MARKET SNAPSHOT 1Q14 Median Price per Square Foot (PPSF) By Neighborhood

1Q14 Median Sales Price By Neighborhood • 33

page 6

Chelsea 212.721.2500

Gramercy Park 212.475.9000

Williamsburg 718.222.1545

Williamsburg 718.222.0211

189 8th Avenue, New York, NY 10011

115 East 23rd Street, New York, NY 10010

165 Bedford Avenue, Brooklyn, NY 11211

40 North 6th Street, Brooklyn, NY 11249

MNS New Development Report 1Q2014 Manhattan New Development Report 1Q14

MANHATTAN 1Q14 Unit Mix Of New Development Sales

Median PPSF


Studios 14% 1 Bedrooms 24% 2 Bedrooms 20% 3 Bedrooms 42%

(Excluding Harlem Median PPSF is $1,660) Median Sales Price

$1,667,556 (Excluding Harlem Median Sales Price is $1,832,850

Manhattan Quarterly Tracking Median PPSF

Median Price


$1,600 $1,500


$1,400 $1,300

$1,450,000 $1,200 $1,100


$1,000 $900
















page 8

34 • Chelsea 212.721.2500

Gramercy Park 212.475.9000

Williamsburg 718.222.1545

Williamsburg 718.222.0211

189 8th Avenue, New York, NY 10011

115 East 23rd Street, New York, NY 10010

165 Bedford Avenue, Brooklyn, NY 11211

40 North 6th Street, Brooklyn, NY 11249




Boutique Heaven O ne of the oldest neighborhoods in Manhattan also is one of the newest and trendiest: Nolita, abbreviated for North of Little Italy. Its history of Italian immigration is now enhanced by some of the greatest international names in shopping and dining. ABOUT NOLITA

By Faith Hope Consolo Chairman, Retail Leasing and Sales Division Prudential Douglas Elliman

At times, it can be hard to distinguish Nolita from Soho, Noho or the Lower East Side. Generally, though, the neighborhood is considered to be bounded by Houston Street to the North, Broome Street to the south, on the east by Bowery and the west by Lafayette Street. Not surprisingly, the neighborhood was once

an ethnically Italian neighborhood, home to St. Patrick’s Old Cathedral, which had been the cathedral for New York City until the newer St. Patrick’s opened uptown in 1879. Today Nolita has become in many respects Soho East, featuring the entrepreneurial bars, restaurants and shopping that had occupied Soho before rents exploded. It remains a haven for the unique boutique and • 35

increasingly is becoming a location for designers who appeal to the young and trendy fashionistas who live here.

SHOP IN NOLITA There are several main shopping thoroughfares in the area, but designers recently have flocked to Elizabeth Street, which runs vaguely north-south. Erica Weiner’s store at 173 is more than a home for her jewelry – her grandmother was born down the street! Barker Black (198B) offers fine English footwear for men. Raleigh is the home for denim at 211. Also at 211, lovely lingerie is sold at Bradelis. Unis (226) is one stop-shopping for men’s style. Steven Alan’s Women’s shop is at 230. Find skin care and cosmetics from Australia at Aesop (232). Clare V is from accessory designer Clare Vivier at 239. Me & Ro (241) is the ultimate local shop, with its stunning jewelry made 100% in New York City! Sportswear from Emmett McCarthy has a home at EMc2 at 242. Thomas Sires (243) offers knits and gifts. Get great summer footwear at Rainbow Sandals (245). The scents at Atelier Cologne (247) feature a high proportion of precious oils, designed to evoke emotions and memories. Form meets function in the Norwegian apparel at With & Wessel (also 247). Every color in the rainbow can be found in the men’s and women’s socks at The Sock Hop (248). Make your home as stylish as your apparel at Haus Interior (250). Anya Ponorovskaya (251) has contemporary clothing with a style worthy of an FIT graduate. Apparel, gifts and accessories with a Scandinavian flair are the ticket at Ivana Helsinki (also 251). At the same address, dress your child stylishly at Soho Baby. Christian Siriano’s whimsical yet luxurious line is at his eponymous boutique (252). The most durable boots in the city are sold at Wolverine (254). Get an entire outfit, from clothes to shoes at the youthful Dolce Vita (255). Tory Burch (257) has become a lifestyle empire, with apparel, accessories and home décor. Condor (259) hosts a number of contemporary apparel and accessory brands including IRO and Rebecca Minkoff. Look for hard-to-find international fashion labels at Babel

36 •

Fair (260). Like the look of fine gems but not the price tag? Drop in at Gas Bijoux (266) for terrific fashion jewelry. Figue (268) features designer Stephanie von Watzdorf ’s Mediterrean-inspired luxury apparel. Love, Adorned (269) has contemporary jewelry. Just off the block, Rag & Bone (73 Houston) is a modern take on British apparel. Elsewhere, Bowery’s run of restaurants and bars is interrupted by the apparel at Anthropologie (250), and the gift shop for the New Museum at 235. Just Shades (21 Spring Street) keeps your lamps stylish. Look for more retailers on Mott Street. Resurrection (217) is one of the locations for vintage apparel in the city. Kathryn Amberleigh’s handmade shoes have a home at 219. Need British-tailored menswear? It’s at Lord Willy’s (225). Only Hearts’ lingerie and apparel are at 230. Dyptique (242) has a tiny boutique for its candles and jewels. Rebecca Taylor’s apparel and accessories collection is at 260. Fjallraven’s outerwear will get us through winters to come at 262, sharing an address with A Détacher, Monika Kowalska’s shop for clothing and art. Coclico (275) offers fine footwear. Get a taste of Caribbean style at Calypso St. Barth (280). Otte-Nolita (281) carries designer apparel. Mulberry Street has a number of shopping highlights. Creatures of Comfort (205) was born in Los Angeles, but its playful apparel is perfect for Nolita. Shop Australian goods even if you can’t go Down Under at B_Space (219C). Space Cowboy Boots has custom footwear for John Wayne wannabes (and women, too) at 234. Find more menswear at White Chalk (240). Prince Street’s retail leads right into Soho, but the Nolita end retains the neighborhood’s casual feel. Miss Hoe’s (2) playful, vintage-feeling clothing and accessories are unique. Haute Hippie’s (9) apparel will make you look like a world traveler. Maje’s (10) clothing tells a story of French chic. Red Flower (13) has exceptional natural beauty products. Helmut Lang’s distinctive apparel for men and women can be found at 14. Vince (16) brings distinctive design to

apparel basics. Gant (25) has durable casual wear. Sigerson Morrison will have you shod in stylish heels and flats at 28. Look very shortly (if it isn’t already open) for spectacular bags at Will Leather Goods (29). McNally Jackson (52) is that increasingly rare phenomenon, an independent bookstore – and a terrific one! Pinkyotto (49) has affordable, vintageinspired clothing. Do Kham (51) features apparel and other treasures from Tibet.

DINE IN NOLITA Of course you have a number of Italian eateries in this neighborhood. Torrisi (250 Mulberry Street) is cozy but the ultimate luxe Italian experience. Next door and from the same team, Parm (248 Mulberry) has a more casual take. Rubirosa (235 Mulberry) is a pizzeria that’s been family owned for decades. Lombardi’s Pizza (32 Spring Street) was the first Pizzeria in the United States. Balaboosta’s cuisine (214 Mulberry) is a touch Mediterranean, a touch Middle Eastern. Musket Room (265 Elizabeth Street) offers the cuisine of New Zealand. Black Seed (170 Elizabeth Street) offers wood-fired bagels. The menu at Public (210 Elizabeth Street) takes elements from cuisines around the world. At Maison O, sashimi meets karaoke, at 98 Kenmare Street. Vegans just love the salads at Chop’t (54 Spring Street). Jacques 1534 (20) is a French gastropub. Taim (45 Spring Street) has some of the falafel and smoothies in the city. Uncle Boon’s (7 Spring) satisfies your craving for Thai.

STAY IN NOLITA Look for smaller hotels in the area or stay nearby in Soho. For luxury, look to the Nolitan (30 Kenmare Street). On a budget, Bowery House (220 Bowery) provides historic accommodations. Or visit the Sohotel (341 Broome Street), located in a landmark building. In Soho, consider the luxurious and high-tech Crosby Street Hotel (79 Crosby Street), the elegant Mondrian Soho (9 Crosby Street), or the Mercer, sister hotel to the Chateau Marmont in Los Angeles. Nolita is a small neighborhood with a lot to see. Take the time to explore. Happy Shopping!

Calendar of Events

MAY & JUNE 2014 MAY Wednesday, May 22, 2014

Continuing Ed: Sue Everyone!: The Anatomy of a Construction Lawsuit Admission: FREE -- Advance registration required. Location: General Society of Mechanics & Tradesmen, 20 W. 44th St, NYC Visit:

Thursday, May 29, 2014 8:30 – 10:00 AM REBNY 11th Annual Commercial Management Leadership Breakfast The Commercial Management Leadership Breakfast honors outstanding leaders in the field of commercial property management. The coveted Edward A. Riguardi Commercial Management Executive of the Year Award will be presented at this event in addition to other excellence in property management awards. Location: The Hilton New York, 1335 Avenue of the Americas Info: Cindy Ramotar,

Thursday, May 29, 2014 9:00 – 10:30 AM REBNY Residential Ethics Course for New Members This is a non-credit course required for new REBNY members. Registration is required. Location: REBNY Mendik Education Center, 570 Lexington Avenue (Lower Level) Info:

Friday, May 30, 2014 9:30 – 10:30 AM REBNY Residential Rental Clinic Seminar FREE seminar for REBNY members only. Registration is required. Location: REBNY Mendik Education Center, 570 Lexington Avenue (Lower Level) Info: Yesenia Perez,

JUNE Tuesday, June 3, 2014 AREW June 3rd 2014 Members Only Event Vist:

Wednesday, June 4, 2014 5:30 – 8 PM PWC Meet the Real Estate Industry Location: Club 101, 101 Park Ave., NYC. Speakers TBA. Visit:

Wednesday, June 4, 2014 9:00 – 10:30 AM REBNY Commercial New Members Ethics Course This is mandatory course for all new commercial members that must be taken within a year of becoming a REBNY member. Location: REBNY Boardroom, 570 Lexington Avenue (2nd Floor) Info: Desiree Jones,

Thursday, June 5 8:00 – 9:30 AM CREW Coffee Visit:

Friday, June 6, 2014 8:30 – 11:00 AM REBNY Annual Residential Downtown Breakfast Roundtable Discussion Residential experts including brokers, appraisers and mortgage bankers will their insights on various market topics at this event hosted by REBNY’s Residential Division’s Downtown Committee. Participants will spend 20 minutes discussing a topic and asking questions before moving to the next table to interact with another expert. Please check back for registration and more information about this event. Location: TBA Info: Yesenia Perez,

Monday, June 9, 2014 9:00 AM – 8:00 PM REBNY’s Annual Golf & Tennis Outing Location: North Shore Country Cub in Glen Head, New York Please check back for registration and more information about this event.

Tuesday, June 10, 2014 11:45 AM – 2:00 PM REBNY Residential Owner/Manager Luncheon Please check back for registration and more information about this event. Location: New York Athletic Club, 180

Central Park South Info: Indi Jaipal,

Tuesday, June 10, 2014 5:30 – 7:30 PM REBNY Retail Deal of the Year Cocktail Party REBNY will recognize two winners for top deals completed in 2013: the Most Ingenious Retail Deal of the Year and the Most Significant Retail Deal of the Year. Location: 101 Club, 101 Park Avenue Info: Desiree Jones,

Thursday, June 12 - Friday, June 13 7:00 AM - 7:00 PM CREW Network 2014 Spring Leadership Summit Visit:

Tuesday, June 17, 2014 9:30 AM – 11:00 AM REBNY Residential Breakfast Club Seminar FREE seminar for REBNY members only. Registration is required. Please check back for registration and more information about this seminar. Location: REBNY Mendik Education Center, 570 Lexington Avenue (Lower Level) Info: Yesenia Perez,

Thursday, June 19 6:00 pm - 8:30 pm Tri-State CREW Inter-Chapter Dinner: A NYCREW, CREW CT, CREW NJ & AREW Joint Event Networking Across State Lines Visit

Wednesday, Jun 23, 2014 PWC 22nd Annual Golf Outing At Elmwood Country Club, White Plains, NY. An all-day event. Breakfast: 10 – 11:30 AM; Tee-off: 11:30 AM; Cocktails and dinner: 5:30 PM. Golf prizes, raffle prizes Visit

Tuesday, June 24 8:30 am - 10:00 am Leading Ladies in Real Estate: Breakfast Series Visit • 37

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