New York State of the Market

As Chairman, NY Investment Sales with JLL Capital Markets, Bob co-leads the investment sales division in New York City. Bob was Chairman and Founding Partner of Massey Knakal Realty Services, New York’s #1 building sales firm. He started his real estate career in 1984 at CB Richard Ellis where he met Paul J. Massey Jr. They both left CB in 1988 to form Massey Knakal. From 1988 through 2014, Massey Knakal closed over 6,000 transactions with an aggregate value in excess of $23 billion. To date, Bob has been personally responsible for the sale of 1,873 buildings (generally considered to be the highest total ever for a single broker in New York) and over $18 billion in sales. On December 31, 2014, Cushman & Wakefield acquired Massey Knakal. At Cushman & Wakefield, Bob acted as Chairman of New York Investment Sales. He was ranked the top originating investment sales broker at Cushman & Wakefield, globally, in 2014, 2015 and 2016. Since 2009, Bob has written a weekly column on the New York City Real Estate Market called Concrete Thoughts for the Commercial Observer.

Jeffrey Dvorett is the Executive Vice President and Head of Development for Kuafu Properties, where he is responsible for the planning, development, management, marketing and sales of new developments. Prior to this he was the Senior Vice President for Development at Extell Development Company, one of the most active developers in New York City. While at Extell, Mr. Dvorett managed and oversaw the development of over two million square feet of mixed used, residential and hospitality projects including the Hyatt Times Square, a 487 key hotel located in the heart of Times Square and ONE57, the most luxurious residential building in New York. ONE57 achieved numerous records for residential and hotel sales. It features 94 ultra­-luxury residences above the 210 key flagship Park Hyatt Hotel. Prior to joining Extell, Mr. Dvorett was a member of the development team at the Clarett Group, a New York residential development company. He has also served as a strategy and operations consultant to some of the world’s largest multinational corporations. He is a frequent guest lecturer and panelist on topics ranging from design and construction to economic trends in real estate development and served on the board of directors of several leading New York real estate organizations.

As the CEO of GuardHill Financial Corp., Alan Rosenbaum ranks among the foremost mortgage specialists in the country. Headquartered in the heart of Midtown Manhattan, Alan founded GuardHill Financial in 1992, and he has since developed the company into one of the top mortgage banks in America. Alan supervises an annual operation of over one billion dollars in mortgage originations. Alan and his firm have worked with clients throughout the country. With over 80 dedicated employees, Alan is perpetually searching for new opportunities for expansion and has recently established an overseas presence by creating a prominent international mortgage division. Alan presently resides in Long Island, New York with his wife and three daughters, and their two Labradors.

Ronald A. Kaplan, CPA, is a partner with CohnReznick and is the Firm’s Commercial Real Estate Industry Leader. Ron has more than 20 years of experience providing assurance, due diligence, business advisory, and tax services to clients in the commercial, residential, retail, and hospitality sectors throughout the United States and internationally. Ron regularly provides assistance and advisory services to clients as they negotiate agreements with lenders, equity partners, and fund managers. In addition, he advises clients on accounting and tax matters throughout the agreement process, from initial drafting through completion. Ron’s clients are generally private companies with multi-state operations and include real estate opportunity funds, property management firms, partnerships, contractors, institutional lenders, REITs and joint ventures, as well as other corporate and family owners and investors. Ron has a particular focus on real estate opportunity funds, with clients ranging from start-ups to established funds. His clients benefit from his experience in critical areas, such as fair value reporting, compliance monitoring, investor relations, and fund performance. Prior to joining CohnReznick, Ron was in charge of the real estate practice for the New York office of a large national public accounting firm. In this role, he oversaw the practice’s client services, account management, and team development functions. He was also active in the firm’s training activities, leading presentations on the real estate business for professionals both within the firm and at national industry conferences.

Timothy Johnson is a Senior Managing Director of Blackstone Real Estate Debt Strategies and the Head of U.S. Originations BREDS, based in New York. Mr. Johnson is involved in sourcing, underwriting, negotiating and structuring debt investments across all asset types and geographies. Before joining Blackstone in 2011, Mr. Johnson was a co-founder of BroadPeak Funding, a boutique commercial real estate finance company based in Los Angeles. Prior to founding BroadPeak, Mr. Johnson was a Vice President in the Lehman Brothers Global Commercial Real Estate Group where he worked from 2002-2008. While at Lehman his responsibilities included sourcing, structuring, underwriting and executing large structured finance transactions as well as select equity investments. Mr. Johnson received a BA in Mathematics from the College of the Holy Cross where he graduated cum laude.

John Cannon joined Freddie Mac Multifamily in February 2012 as Senior Vice President, Multifamily Production and Sales where he serves as chief point person for our Program Plus® Seller network. John has over 25 years of experience in the mortgage industry. Prior to Freddie Mac, John was executive vice president with Berkadia Commercial Mortgage where he led the conventional mortgage banking network, GSE lending, proprietary lending, and investment sales platforms. In his last five years at Berkadia, they originated more than $86 billion in loans with a variety of capital sources, including Freddie Mac, Fannie Mae, FHA/HUD, insurance companies, capital markets and other institutional lenders, and proprietary sources. Prior to his role with Berkadia, John held several leadership roles at Capmark Finance, where he managed the conventional and HUD production networks, the conventional sales force, and was the lead corporate liaison with the GSEs and conduit lenders. While at GMAC Commercial Mortgage, John originated servicing-retained commercial mortgage loans for the GSEs, correspondent insurance companies, and pension fund clients. John is an alumnus of Lafayette College in Easton, Pennsylvania and earned his Master of Science in Finance at Drexel University in Philadelphia.

Ralph Herzka is the chairman and CEO of Meridian Capital Group. Since co-founding the commercial real estate advisory firm in 1991, Mr. Herzka has remained the guiding force behind the company’s evolution from a small Brooklyn-based commercial mortgage brokerage to a national leader in real estate capital markets, having personally arranged over $100 billion in financing. Additionally, Mr. Herzka has led Meridian’s recent expansion into New York City investment sales and retail leasing in 2015 and 2018, respectively. Mr. Herzka demonstrates an exceptional ability to foster multi-generational relationships with real estate owners and investors and forms critical alliances with lenders to achieve success across the asset spectrum. He is a member of the Real Estate Board of New York, the Mortgage Bankers Association, the Commercial Real Estate Finance Council, and the International Council of Shopping Centers. In addition to his professional leadership, Mr. Herzka is a dedicated philanthropist, raising millions of dollars for various organizations over his career. Most notably, he is a passionate participant of Bike4Chai, an annual 180-mile cycling fundraiser for children fighting pediatric illnesses and disabilities. Mr. Herzka is a lifelong resident of Brooklyn, NY. He and his wife are proud parents and grandparents.

Natural Marketer with Strong Credit Skills and the Ability to Deliver Results, Negotiate On A Win/Win Basis and Collaborate Diplomatically. Seasoned commercial banker with a successful track record in business development, relationship management and credit fulfillment. Solid expertise in origination, negotiation, credit facility structuring, transaction management and execution. Consistently strive to deliver top of class structured finance products and services to clients and being their trusted advisor for all their financial needs. As a commercial banking and deal structuring expert within large corporate and commercial real estate, managed highly experienced lenders and generated significant revenue by actively managing business development opportunities and overseeing ongoing monitoring of client portfolio performance to maximize penetration and return. Achieved various partnering efforts including management of teams, collaboration with functional areas and client initiatives to ensure successful deals. Strong skill set with a deep understanding of end-to-end processes including product development and implementation, origination, credit, execution, work-outs, portfolio monitoring and servicing. Focused on ensuring team maintains the required internal control standards, including adherence to audit, regulatory and compliance policies. Dedicated to achieving safe, sound and sustainable profitable growth. Structured Finance; Corporate Banking; Commercial/Residential Real Estate Finance; Distressed Note and REO Finance; Managed Credit and Servicing;

Drew Fletcher is head of Greystone Capital Advisors where he oversees a team of professionals responsible for arranging creative debt and equity solutions for institutional and private commercial property owners and developers, and provides strategic advisory services for institutions, investors and borrowers. GCA also focuses on large loan mortgage origination across Greystone’s Fannie Mae, Freddie Mac, FHA, CMBS, Bridge, balance-sheet and special situation lending platforms. Drew has over 20 years of commercial real estate experience, having directly originated and executed on more than $10 billion of financing transactions. Prior to joining Greystone in 2013, Drew was the Chief Financial Officer of Edison Properties LLC, one of the largest private real estate owners in New York City, with a $5 billion diversified portfolio of self-storage, office, multifamily and substantial land holdings throughout the NY Metro Region. Drew received a B.A. in Economics and Communications from Wake Forest University; an M.B.A. in Finance from New York University; and a Master of Accountancy in Taxation from Rutgers University. He volunteers his time as a guest lecturer at the NYU Real Estate Institute and also is an active member of the Real Estate Board of New York and the Urban Land Institute. Drew also was named to the Commercial Observer’s 50 Most Powerful People in Commercial Real Estate Finance in 2018.

Belinda Schwartz has chaired Herrick’s Real Estate Department since 2014, is a member of the firm’s Executive Committee since 2017 and is a 30+ year veteran of New York City’s commercial real estate market. She is a leader and mentor for 50+ attorneys and urban planners (23 of which are women) and one of the only women in the country to chair a major commercial real estate practice. One of the industry’s most creative real estate dealmakers, Belinda’s clients value her ability to find common ground in negotiations and achieve a desirable outcome as swiftly as possible. Her clients include prominent developers, owners, funds, investors and family-owned real estate businesses, whom she advises in complex debt and equity transactions including real estate restructurings and workouts; fund formation; property acquisitions and sales; joint ventures; development deals; construction matters; ground leases and commercial leases. Belinda frequently advises clients in single asset and portfolio transactions involving residential, hospitality, office and retail properties across the U.S. She has also advised on several of New York City’s largest development projects, including Brooklyn Bridge Park’s Empire Stores complex, Downtown Brooklyn’s 1.8 million square-foot City Point project, and one of the largest land swaps in Manhattan history, a deal which won REBNY’s coveted Most Ingenious Deal of the Year Award. Recently, Belinda has been leading her clients through the impact of COVID-19 on their real estate transactions, development projects, workouts and restructurings, loans and leases as a critical addition to her clients' business team. Belinda has consistently been ranked one of New York City’s leading real estate lawyers by Chambers USA, Super Lawyers, City & State and Real Estate Forum, which has twice named her a “woman of influence.” Belinda was named one of National Law Journal's Trailblazers in Real Estate/Construction Law in 2020. In 2019, Belinda was named one of Real Estate Weekly's, Real Estate Dealmakers, and in 2018, one of Real Estate Weekly’s Leading Ladies of Real Estate. In 2017, Belinda was named one of Crain’s New York Business’ top 100 women lawyers and for the past number of years she has been named one of Bisnow’s New York power women.

David Greene is President of Brokerage Services at MHP Real Estate Services. Recently, Mr. Greene was honored again by The Commercial Observer as one of the 100 most powerful people in New York Real Estate. MHP is the New York affiliate of TCN Worldwide, an international association of leading commercial real estate firms with affiliates in more than 200 markets with more than $38.8 Billion dollars in annual transactions. Mr. Greene serves as Chairman on the Board of Directors. At MHP, Mr. Greene is responsible for business development, strategic services and public relations. He is a frequent contributor to real estate periodicals and has participated in numerous industry-wide panel discussions. He has been widely quoted in The New York Times, The Wall Street Journal, The Commercial Observer, The Financial Times, The Real Deal and Real Estate Weekly. Prior to his current position, David was Executive Managing Director. Throughout his career at MHP he has sold nearly $1 Billion of real estate to his clients including the sale of 295 Madison Avenue, the partial interest sale of 180 Madison Avenue, the package of 256 West 38th Street and 252 West 37th Street, the sale of 485 Seventh Avenue and the sale of 177 Lafayette Street. Most recently Mr. Greene represented Luxottica, the leader in premium, luxury and sports eyewear in their purchase of 1 West 37th Street. Mr. Greene has leased more than 3 million square feet including transactions with Walt Disney for 45,000rsf, Northrop Grumman 60,000rsf, Scripps/HGTV 77,000rsf, BCBG/Max Azria 42,000rsf, Switch and Data 40,000rsf and Jordache 35,000rsf. As leasing agent he successfully represented buildings such as 1180 Avenue of the Americas, 485 Seventh Avenue, 1450 Broadway and 101 Fifth Avenue, among others. Mr. Greene got his start in New York real estate when he joined a family friend’s company. The firm managed a 13 building portfolio in Greenwich Village. His experience working with apartments, sponsor sublets, rent subsidized or controlled apartments along with retail space at the base of the buildings fascinated him. David’s experience continued to broaden as he began to work directly with the various lawyers, lenders, accountants, brokers and retail tenants, learning many facets of the business. Mr. Greene is an active member in real estate and charitable organizations including REBNY, ICSC and WIN. He is a member of the Jazz Leadership Society of WBGO Jazz 88.3FM and is a member of the National Arts Club. An avid traveler, David is a native New Yorker.

Mr. Cohen is President of the Tri-Slate Region. When the firm operated as GVA Williams. Mr Cohen was the third generation of his family to head the firm. which was founded in 1926. He chaired GVA Williams' Executive Committee and was the founding partner and Chairman of GVA Worldwide Ltd.. GVA strategic partnership of leading real estate firms serving 120 business capitals on Uwe continents. An expert real estate advisor. Mr. Cohen has represented an elite clientele of the nation's lop companies, including American Express, ADP and General Motors. He specializes in representing corporations in the acquisition and disposition of office space nationwide. He has extensive experience representing law firms including, Moses 8 Singer. Holland and Knight. Smith Gantrell Russell. Mr. Cohen currently represents a wide range of clients regionally and nationally and globally including, Wells Fargo Advisors. American Lawyer Media. Signature Bank. Russell Reynolds Associates. SS&C and Marks Paneth In 2012. Mr. Cohen was ranked as one of New York City's lop 20 brokers by the Real Deal. That year. among others. he represented Parsons Brinkerhoff in the renewal of their 200.000-square toot world headquarters at 1 Penn Plaza in 2017 Mr. Cohen was ranked 66 among Commercial Observer's Power 100 nationwide. Mr. Cohen graduated from llw University of Pennsylvania. COMMUNITY INVOLVEMENT Mr. Cohen is on the Board of Directors of several or ganizalions. He serves as Vice-Chairman of the Board of the Flatiron/21J Street Partnership and also serves on the Boards of. The Roundabout Theatre Company, the Jewish National Fund of Greater New York and YPO Metro NY/YPO Gold Big Apple. He is also a past Chairman of the Board of Housing and Services Inc. and past President of Young Presidents' Organization NY Metro Chapter. Mr Cohen is also a Tony Award winning Producer of -A Gentleman's Guide to Love and Murder.

Michael Maturo is a founding Managing Partner and serves as President of RXR Realty LLC (“RXR”), a multi-billion dollar private real estate company which was formed subsequent to the sale of Reckson Associates Realty Corp (“Reckson”)(NYSE:RA) to SL Green, one of the largest public Real Estate management buyouts in REIT history. In this capacity, he develops, implements and oversees RXR’s corporate strategy and investment fund and asset management businesses as well as all capital markets activities. Mr. Maturo is a member of RXR’s Investment Committee and its Board of Directors. He is also a Principal and member of the Investment Committee of RXR Real Estate Opportunity Fund, LLC, RXR Real Estate Value Add Fund LLC and RXR Emerging Markets Fund LLC. Prior to the Reckson/SL Green merger, Mr. Maturo served as President and a member of the Board of Directors at Reckson. Mr. Maturo was also Chairman of the Investment Committee and had oversight responsibility over the company’s allocation of capital. Mr. Maturo worked closely with the Company’s CEO in developing and implementing Reckson’s corporate and operating strategies. Mr. Maturo was at Reckson from 1995 until January 2007 and during his tenure completed over $20 billion in capital markets transactions. In addition, Mr. Maturo serves on a number of outside Boards and Committees including Vice Chairman of the Board of Directors of the Long Island Association (LIA), as well as a Member of its Executive Committee and Chairman of its Economic Development Committee, Chairman of the Board of Directors of the Catholic Foundation of the Diocese of Rockville Centre, the Investment Committee of the Diocese of Rockville Centre Pension Plan and Member of the Real Estate Roundtable. Mr. Maturo was appointed by Governor Cuomo in December 2012 to the Board of Trustees of the Long Island Power Authority (LIPA) where he served as Chairman of the Personnel and Compensation Committee and member of the Finance and Audit Committee and the Operations Transition Committee. Mr. Maturo completed his tenure on the LIPA board in January 2014.

Albert Dweck is the founder and CEO of Duke Properties. His responsibilities include oversight of all aspects of the company’s real estate activities, which include planning, acquisition, approval, financing, marketing, sales, leasing, and maintenance. Since founding Duke in 2001, he has been the managing principal of over 30 real estate partnerships with approximately 500 units under management in the North Eastern United States. Mr. Dweck received a Bachelor of Science in Marketing from The Stern School of Business at New York University in 1994. He completed intensive training in business and management at the Sanno Institute of Management, Tokyo Japan, 1993. He is a licensed real estate agent and received a certificate in real estate investment and finance from the NYU, SCPS in 2003. He graduated from the Business Professional’s Course of The Aji Network in 2009, and is a current member of The Aji Network’s Leadership, Entrepreneurship, Innovation and the Accumulation of Power Program. He is also a Professor at the Real Estate Institute at NYU, SCPS. He is the Vice President, Finance, and serves on the Board of Directors of Barkai Yeshivah, a private school in Brooklyn, NY.

Shimon Shkury is the President and Founder of Ariel Property Advisors. As President he oversees all investment sales, capital services and research initiatives that the company undertakes. Since 2002, Mr. Shkury has advised private clients, institutions, operators, equity providers and lenders on pricing, positioning and selling assets throughout New York City. This experience has enabled Mr. Shkury to emerge as an expert within the various asset classes, city, state and federal regulatory agreements and market indicators. Mr. Shkury is routinely sought out as a resource for the industry and has been featured in publications such as The Real Deal, Commercial Observer, The Wall Street Journal, Crain’s New York, Bisnow and many others. As a contributor to Forbes, he writes about trends in commercial real estate and is the host of Ariel’s Coffee & Cap Rates podcast. In 2023, he was named to the Commercial Observer’s Power 100 list of commercial real estate leaders and, in 2022, to Crain’s New York’s list of Notable Leaders in Real Estate. Along with his partners, he was honored with Connect CRE’s Top Broker Award 2022, Globest.com’s Multifamily Influencer Award 2022, and Commercial Property Executive’s Best Investment Transaction 2022 in the portfolio category. Originally from Israel, he came to the United States in 1999 to earn an MBA in finance at the Wharton School of Business and a master’s degree in international studies from the University of Pennsylvania’s Lauder Institute. He previously served as a lieutenant in the Israel Defense Forces. Prior to starting Ariel Property Advisors, Mr. Shkury was a Partner with Massey Knakal Realty Services, now Cushman & Wakefield. Mr. Shkury lives in Manhattan with his wife, son and daughter. He can be reached at 212.544.9500 ext. 11 or via email at sshkury@arielpa.com.

Ron oversees the investment sales team, and is responsible for revenue, business development, and talent management. He joined Besen & Associates in 2003 as an Investment Sales Associate and has brokered sale transactions in Manhattan, Brooklyn and The Bronx. In 2008, Ron added the role of Chief Marketing Officer and was also charged with working with the sales team to grow the number of exclusive assignments. As a broker, Ron has sold multifamily, mixed use and rehab/conversion properties throughout Manhattan and Brooklyn. Prior to entering commercial real estate, Ron spent a decade as an account management professional in the advertising business. As Vice President/Group Account Director at D’Arcy Masius Benton & Bowles (DMB&B), he partnered closely with Fortune 100 clients to develop marketing strategies and implement multimillion dollar ad campaigns on well-known consumer brands such as Crest and Phillips. Ron is an active member of the New York real estate community in a number of leadership roles. He is a steering committee member of the Young Real Estate Executives division of UJA (REX), on the Young Leadership Cabinet of Israel Bonds Real Estate Builders & Allied Industries division, and a former Chairman of the Young Mortgage Bankers Association (YMBA). He is also a member of Young Mens’/Womens’Real Estate Association (YMWREA) and REBNY. He graduated from the State University College of New York at Oneonta, and also holds an MBA in Marketing/International Business from Fordham University Graduate School of Business.

Since establishing ODA in 2007, Eran Chen has earned a reputation for mold-breaking designs that will deliver a better urban future. Having completed more than 50 buildings in just over a decade, he has become one of the most prolific architects in New York. Eran’s work has been widely published around the world and recognized by the AIA, the Society of American Registered Architects and others. In addition to guest lectures globally, Eran is a professor at Columbia University and New York University. His recent projects include the renovation of the former Postkantoor in Rotterdam, a mass-timber residential building in Washington D.C., and the conversion of a defunct parking garage into a public park and class A office building in Buenos Aires. His writings on architecture have been published in ODA’s book, Unboxing New York, and he is working with Rizzoli on an upcoming monograph.

David is a sales and marketing professional in the field of critical energy infrastructure and energy efficiency. In his current position with Con Edison, as Business Development Manager of Commercial and Industrial Energy Efficiency Programs, he is responsible for helping customers meet energy efficiency improvements within the commercial portfolio which is supported by a network of over 700 market partners. David, who has been with Con Edison since 2008, worked in a variety of business development, sales management, marketing and external affairs positions for Johnson Controls, Public Service Enterprise Group, Pennsylvania Power & Light and the Trane Company. His major focus has been on clients with critical energy needs in the fields of commercial real estate, healthcare and data center operations. David has a BS in Marketing and an MBA in Finance, both from Montclair State University. He is a Certified Energy Manager, and an active member of the Association of Energy Engineers, the New York Building Congress, the Manhattan Chamber of Commerce Green Business committee, American Institute of Architects (AIANY) and Urban Green Council. David is an officer of the New York City chapter of the American Society of Heating, Refrigerating & Air Conditioning Engineers (ASHRAE).

Paul Hoffmann is SVP of HAKS and Department Head of Special Inspections & Material Testing, overseeing Special and Progress inspections, Material Testing, building compliance, and construction monitoring. He established HAKS’ reputation as a major firm of choice in the area of Special Inspections for developers and owners, which has become the firm’s fastest-growing sector and is now the world’s largest Special Inspection Agency. His group serves clients in every market sector, private and public--residential, commercial office towers, hospitality, healthcare, schools, police and emergency stations, higher education, cultural centers, waterfronts, parking facilities, security centers, airports, transportation, power centers, public housing, disaster recovery, parks, bridges, public water and more. Since joining HAKS in 2009, Mr. Hoffmann has developed and won award contracts with representative construction values of over $10 billion, and developed a team nearing 200 highly trained professionals: inspectors project managers, lab services, administrative and support staff.

Doug Curry has served as the CEO of Xceligent, Inc. since its inception in 1999. Mr. Curry leads the executive staff and strategic direction of the company. His experience in real estate dates back to 1983 with hands-on experience of developing commercial and residential properties alongside his father. In 1996, Curry founded Pinnacle Appraisal Group, LLC. By focusing on customer service, standardized processes, training, and utilization of technology, Curry grew the company into one of the top appraisal firms in the country and his business model became the standard for many national banks. Curry then founded Pinnacle Commercial and experienced first-hand the difficulty in obtaining quality commercial real estate information. He founded Xceligent as an answer to that industry need in Kansas City. Over the last nearly 20 years, he has directed Xceligent’s growth into a proactively researched commercial real estate information provider covering more than 50 US markets.

An avid entrepreneur, Rich has launched and run numerous businesses including an international arbitrage textbook company, a college marketing network, and an offshore technology outfit. Most recently, Rich was an Associate Partner at McKinsey & Company specializing in Financial Services.