Summary
Real estate executive with a 25 year record of successfully initiating and completing profitable projects. Created and implemented strategic plans to increase net income. Negotiated numerous transactions. Developed budgets, monitored results, managed cash flow. MBA in Finance. Creative, thorough and dedicated to producing results.
Areas of Expertise
Commercial Lease Negotiation Repositioning of Assets
Financial Monitoring Acquisition/Disposition
Property Management Financing
Experience:
NEW YORK CITY REAL ESTATE DEVELOPMENT COMPANY
2002-present
Vice President
Manage 5 Manhattan commercial buildings, including one with 220 tenants, for London based owner/developer. Handled financial oversight for entire company; signed all checks, wires and leases.
Monitored rent collections and expenses for all properties with annual rent rolls of over $15 million, resulting in company net income being 12% above projection for 2004.
Negotiated 10 commercial leases for retail and office tenants.
Developed annual budgets and multi-year capital improvement plans.
Supervised staff of 15 people. Bid out jobs, supervised contractors and vendors.
Resolved tenant problems and disputes quickly and economically.
NEW YORK CITY REAL ESTATE DEVELOPMENT COMPANY 2000-2002
Vice President and Controller
Obtained project financing, managed cash positions, communicated with investors, administered projects, negotiated leases and other transactions. Supervised accounting and bookkeeping for all entities. Managed and trained employees and venders for New York City and Utah properties.
Coordinated and supervised contractors, architect and brokers to complete a total renovation of a 5 story building in Manhattan. Obtained financing and negotiated leases.
Obtained $4.65 million mortgage on a troubled commercial building in Utah.
Asset manager for 3 commercial properties in Utah; negotiated 7 leases for about 60% of the space, obtained $1.8 million mortgage, allowing partners to receive their entire investment back.
CITIGROUP, INC. 1996-1999
Real Estate Consultant
Coordinated cross-functional teams to establish customer requirements, developed long term strategic plans, negotiated real estate transactions and built branch locations, within budgetary and regulatory constraints. Conducted site selection for new branches.
Structured and marketed sale of rights to build over branch (while keeping the branch open) resulting in a $6 million sale.
Negotiated successfully, internally and externally, to lease twelve bank branches and dispose of seven, creating savings of more than $5 million.
Resolved, through negotiation, any real estate issues between the Bank and its landlords, thereby preventing lawsuits, OSHA complaints, and increasing customer satisfaction
NEW YORK CITY BANK
1993-1996
Vice President, Real Estate Marketing and Management
After FDIC sold bank to private investors, managed nationwide commercial real estate portfolio of 34 properties totaling 1.5 million square feet. Increased asset value by $8 million in 2 years by signing 39 leases for 210,000 square feet. Hired and supervised leasing and managing agents.
Marketed properties to potential purchasers and negotiated contracts of sale, leading to the disposition of 28 assets for $125 million cash.
Analyzed the actual value of a 10 year old construction loan in third position, with a book value of $0, and sold it to a developer - resulting in a $1 million net profit to the bank.
Supervised construction of 150,000 square feet of office space, completed on time and budget.
NEW YORK CITY BANK
1992-1993
Real Estate Marketing and Asset Manager
Managed portfolio of 51 foreclosed residential, retail and industrial properties, valued at $8.3 million. Reported to SVP. Ran entire disposal process: marketed properties, negotiated contracts of sale.
Reversed operating loss of $600,000 to break-even situation within six months.
Developed and implemented methods and procedures to handle all foreclosed real estate, resulting in full compliance with governmental regulations.
Marketed real estate, negotiated sales contracts, and obtained Board approval, leading to disposal of 80% of assets within 15 months.
NEW YORK CITY REAL ESTATE DEVELOPMENT COMPANY 1987-1992
Co-Founder/President
Formed company to redevelop underutilized inner city properties. Analyzed development potential, negotiated purchases, leases and sales, obtained financing from banks and private investors, formed partnerships, and redeveloped 7 properties.
Bought 10,000 square foot retail strip in 1988 for $150,000, renovated and subdivided it, and sold it to two users for $200,000 profit.
Acquired 38-unit apartment building in 1988 for $1 million, obtained $1.3 million loan, renovated and converted to condominium. When market collapsed, managed building and eventually sold it for $1.1 million.
Created and directed strategy to sell last 13 units in a medical condominium for $1.8 million by auction in 1992, one of the first for commercial property in New York area.
HELMSLEY-SPEAR, INC. 1982-1987
Negotiated 65 commercial leases with aggregate rentals of $21.5 million. Managed four office buildings.
NEW YORK CITY REAL ESTATE DEVELOPMENT COMPANY 1980-1982
Leasing and Managing Agent for 140,000 square foot Manhattan office building.
Education:
STERN SCHOOL OF BUSINESS, New York, NY, MBA, Finance, 2000
CONNECTICUT COLLEGE, New London, CT, BA, Economics, 1980
Hobbies: Water polo, tennis. Willing to relocate |
