Stoler Report: 21st season, Sept 2021

 The Stoler Report: NY’s Business Report: 21st season, & 22nd season, September2021 & September 2022

September 19, 2021: Investment Sales in Light of Covid 19 & the Delta Variant

Noting that more deals are going to contract and that they're "doing OK," guests are confident that Covid-19 and the Delta Variant, countered by the booster, social distancing, and vaccination will have only a small effect on future sales. Guests discussed the rental market, citing opportunities in hospitality and multifamily, bio-science, and quality office buildings.

Guest List:

Seth Glasser, Sr. Vice President, NY Multifamily, Marcus & Millichap

David Schechtman, Sr. Executive Vice President, Meridian Investment Sales

Shimon Skury, President, Ariel Property Advisors

September 26, 2021: Affordable Housing in New York City: Fall, 2021

New York City's population is growing, along with the need for affordable housing. Guests - developers and lenders - commented on the challenges of acquiring land, construction costs, rezoning, the importance of sponsorship and thoughtful business plans to successfully develop and build much needed housing. The energy and support of HPD to preserve and build new affordable housing is discussed.

Guest List:

Kenneth Spillberg, Sr. Vice President of Development, Omni New York, LLC

Andrew Warren, Sr. Vice President, Community Development for Real Estate, TD Bank

Eli Weiss, Principal, Joy Construction Corporation

October 3, 2021: One on One with Kent Swig

Swig Equities

Helmsley Spear

Terra Holdings

Guest sites January 2021 as the beginning of a very active real estate market. New York City residences, looking to purchase their first apartments, showed interest in studios and one bedrooms; larger apartments followed. Tenants are slowly returning to Class A office buildings; Class B/C tenants are still working from home. Guest believes tenants have greater opportunity to negotiate deals.

October 10, 2021 One on One with Jeffrey Levine

Douglaston Development

Levine Builders

Clinton Management

Guest says that to do business in New York, you have to be able to "ride the waves - to absorb the ups and downs." Long-time colleague and friend, Jeff Levine, bullish on New York's future despite 9/11 and economic disruptions, reviews his early ventures in Williamsburg and West Chelsea (now Hudson Yards). Working with social service agencies, Levine builds senior housing, homeless facilities along with affordable and mixed income apartments.

October 17, 2021: What’s Really Happening in the Industrial Market: Fall, 2021

Industrial is ranked #1 as a real estate asset class and a highly sort after commercial investment. E-commerce sales and demand for over-night and even same-day delivery are driving "last mile" industrial facilities. Space for hard core industrials: garbage trucks, waste-recycling, parking, light manufacturing is not available. Labor shortages, scarcity of land, rezoning, building conversions, multi-story facilities are discussed.

Guest List:

Alan Dern, CEO, The One Stop Properties Group

Cory Elbaum, Managing Director, Angelo Gordon

Joseph A. Farkas, CEO and Founder, Metropolitan Realty Associates LLC

October 24, 2021: Return to Office: Necessary Steps & Safety Protocols

Scott Mager, Chairman & CEO, Perfect Building Maintenance

Vincent Silvestri, President, Perfect Building Maintenance

October 31, 2021” Revitalization of the Restaurant Business

Chefs, owners, restaurateurs are starting to see "folks coming back to the restaurant!" Still unfilled offices remain a problem but New Yorker's have shown great support by generously accepting Covid sur-charges, outdoor dining, and fund raisers. Current challenges: scarcity of labor has caused limited hours/days open; broken supply chain, products not available, menu changes, erratic deliveries, difficult landlords and higher prices!

Guest List

Marc Forgione, Owner/Chef, Restaurant Marc Forgione, American Cut

Drew Nieporent, Restaurateur; Owner, The Myriad Restaurant Group

Scott Tacinelli, Chef/Owner, Don Angie

November 7, 2021” What”s Happening in the Hamptons?

Builders, developers declare "the Hamptons are on fire," fast becoming a year-round residence, and facing issues common to many growing areas: traffic, described as "unbelievable;" affordable housing, proposals to build face opposition; and overcrowded schools. Land is scarce and building approvals are hard to get. Real estate is booming, restaurants are staying open as long as possible.

Guest List:

Barry Akrongold, Chairman, Fortune Financial and Investment Corp.

Chad Gessin, Principal, First Dunes / Chatham Development Company

Ray Harden, Principal, Partner, Ben Krupinski Builder

November 14, 2021: Why are the condo/coop/townhouse markets doing well?

Guests comment: It's a buyer's market OR a seller's market - depending on where you are and what you have to sell! Condos are attracting parents buying for their children, who are moving east; Coops are less attractive as Boards can be difficult to deal with, and Townhouses appeal to families, as these facilities provide more space and more privacy. Brooklyn and Queens markets have been an alternative to Manhattan; Staten Island is difficult to develop, and the Bronx provides homes to renters.

Guest List:

Gregory J. Heym, Ex. Vice President & Chief Economist, Terra Holdings

Stephen G. Kliegerman, President, Brown Harris Stevens

Miki Naftali , Chairman & CEO, Naftali Group

November 21, 2021: Outlook on the office market, Fall 2021

Guests discuss the ups and downs of the New York office market. An encouraging uptick in some portfolios is due to the number of employees returning to the office. Leasing and rents remain an issue of location and supply vs. demand. Newer quality buildings are most in demand; question is - what is the future of obsolete buildings? Co-working spaces, flexibility leasing, clustering, zoning - all considered.

Guest List:

Tommy Craig, Partner, Sr. Managing Director, Hines

Scott Galin, Principal & CEO, Handro Properties LLC / ESSH Investments LLC

Leslie Himmel, Partner, Himmel + Meringoff

November 28, 2021: Real Estate Professionals Outlook for 2022

Guests representing real estate asset classes and public accounting discuss aspects of the hospitality industry incorporated into the office market. In addition to renovated lobbies, clients look for amenities not usually seen in commercial buildings. Also discussed, residential and mixed-use properties in emerging markets in Brooklyn and Queens.

Guest List:

Craig Deitelzweig, President & CEO, Marx Realty / Merchants’ National Properties

Remy Raisner, Founder & CEO, The Raisner Group

Neil A. Sonenberg, Co-Partner-in-Charge, Real Estate Group, Marks Paneth LLP

November 28, 2021: Opportunities in Commercial REal Estate in 2022

Guests discuss opportunities for commercial real estate in the New York Metro area and in northeast Florida, particularly the just under A-quality industrial and multi-family classes in NE Florida. Others focus on condos and risk-adjusted return investments in condo inventory. Also reviewed: the return of foreign investors; New Jersey and Westchester, commutable to New York; senior and affordable housing; technology and life science - long-term to success but important to New York's future.

Guest List:

Adam Altman, Managing Member, KABR Group

Ran Eliasaf, Managing Partner, Northwind Group

Shimon Shkury, Founder & President, Ariel Property Advisors

January 2, 2022: Outlook on the hospitality industry for 2022

Developers, owners, bankers - very cautious when considering new hotel construction in New York City, describing the price of land, availability of supplies and hard-to-come-by labor. Guests discuss the popularity of limited service hotels versus conventional establishments. Financing is hard to get as the banks' hotel portfolios are still under stress.

Guest List:

Brad Honigfeld, Chairman, Founder & CEO, The Briad Group

Brennan Keating, Admin Vice President/Group Manager Commercial Real Estate, M&T Bank

Bryan Younge, Ex. Vice President/Valuation & Advisory - Americas Practice Leader - Hospitality, Gaming & Leisure, Newmark

January 9, 2022: One on One with John Catsimatidis, Chairman & CEO, Red Apple Group

John Catsimatidis, optimistic and enthusiastic about New York's future strongly believes in "spreading the risk" and diversified investments. Guest discusses various real estate asset classes: retail vs. condo, the grocery business and unions, the industrial market, bio-sciences and Florida.

January 16, 2022: Outlook for the State of Retail in 2022

Consulting guests and his Crystal Ball, Michael Stoler determines that "retail is booming." Food and beverage wellness concepts, wellness brands and services are coming to New York, some to integrated commercial space with food halls, fitness establishments and more. As business improves, foreign investors, new brands are looking to return or enter NYC's markets. SoHo, Broadway, brick & mortar businesses, repurposing malls and shopping centers - all discussed.

Guest List:
Jeffrey D. Roseman, Vice Chairman, Newmark
Jack Terzi, Founder & CEO, JTRE Holdings
Jeff Weinhaus, COO, Equinox Holdings

January 23, 2022: Banking Executives Outlook for 2022

Considering the future - a new year, new administration - guests foresee an aggressive continuation of bank mergers as opportunities to extend their footprint in the market. Bankers discuss the effects of LIBOR, Fannie Mae & Freddie Mac and interest rates, rent stabilized, multi-family buildings, cannabis shops, and vacancies and downward rents in New York's high rent areas.

Guests:

Frank Korwekwinski, Flushing Bank

Daniel Harris, OceanFirst Bank

Peter Meyer, New York Community Bank

January 30, 2022: Business Leaders Ask: What Can We expect in 2022

Guest List:
Ralph Bumbaca, New York City Market President, TD Bank
Joseph Pistilli, Chairman of the Board, Chairman & CEO, First Central Savings Bank, Pistilli Realty Group
Abe Schlisselfeld, Partner, CBIZ Marks Paneth LLP

February 6, 2022: Development of Residential Rental Property in 2022

Celebrating a new year, a new administration, guests anticipate a good year for residential development, citing capital available for public/private partnerships to develop affordable housing. Guests discuss the tax credit issue of the successful Affordable New York Program-421a, land acquisition and pros and cons of areas considered for development: Harlem, Coney Island, Gowanus, East New York and more.

Guest List:
Andrew Cohen Managing Director, Development, Partner, BRP Development


Frank Dubinsky, CEO, Monadnock Development


Bryan Kelly, President, Gotham Development

February 13, 2022: Update on the residential rental market in New York City

Despite the challenges associated with multi family real estate, a regulated business in New York, guests are positive about New York "coming back strong," and in investing in this interesting asset class. Developers discuss an extension or new 421a program, vital to New York's future, Independent, Assisted Living and Senior Housing. All support the conversion of hotels to rentals - acknowledging that it was "easier said than done!"

Guest List:

Steve Krasman, Chief Operating Officer, Slate Property Group

David Schwartz, Managing Partner, Sugar Hill Capital Partners & Fort Amsterdam Capital

Eli Weiss, Principal, Joy Construction Corporation

February 20, 2022: What’s Happening in the New York City Office Maket

The Garment Center - convenient to transportation - is working its way westward, from 42nd Street to about 34th Street - attracting tenants to the area's magnificent Art Deco and steel and glass buildings, to the popular Bryant Park, and to relative bargain rents. The area is trending upward; on a modified basis, people are returning to work, amenities are being enlarged and improved.

Guest List:

Michael T. Cohen, President, Tri-State Region, Colliers International

Kenneth Fisher, Partner, Fisher Brothers

Michael Giglio, Chief Financial Officer & Operating Principal, Kaufman Organization

February 27, 2022: Residential Development in New Jersey

Guests discuss New Jersey's Gold Coast and the housing boom in Hoboken and Jersey City, continuing in Journal Square and the Cliffs. While demand is high, supply of residential properties is low, especially of Affordable Housing as municipalities are slow to approve new projects. Building support of Affordable Housing in volume is limited to the highly competitive and limited supply of federal tax credits. Greater support is needed. Senior housing, malls, walkable-downtown development is reviewed.

Guest List:


Dan Gans, Co-Founder / Founder & Managing Member, The Hoboken Brownstone Company / Hudson Development Company


Russell I Tepper, Sr Managing Director-Development, Mill Creek Residential Trust


George Vallone, President, The Hoboken Brownstone Company

March 6, 2022: Cannabis Update

The sale of medical and recreational cannabis is legal in New Jersey. Considering legal cannabis as a social equity business, an opportunity for ownership and employment for low income entrepreneurs, guests discuss the challenges to all who may be interested in this enterprise: licensing, communities - welcoming and not welcoming - the trade to their communities, the extraordinary difficulty in banking, and cumbersome tax structures.

Guest List:


Brian Haynes, CEO, Haynes NY


Laura Placentra, CEO, Founder, Enso NJ


Brendon Robinson, Co-Founder, Vice President, 420NJEvents


Jennifer Roselle, Partner, Genova Burns LLC

March 13, 2022: Gaming & Sports Betting

Sports betting, in New Jersey, a thriving billion dollar business, is the third largest business of its kind, on the globe!! To date, 30 states, including New York, allow sports betting. New Jersey's tax rates of 8% to 15% are discussed as reasonable compared with New York's extraordinary 51% on transactions. Guests discuss Esports , brick & mortar casinos, gambling habits and the industry's role in addressing responsible gambling.

Guest List:


Dennis A. Drazin, Partner / Chairman & CEO / Chairman, Drazin and Warshaw PC / Monmouth Park Race Track & Sports Book / PlayUp


Dennis M.P. Ehling, Partner, Blank Rome


Martin Lycka, Sr Vice President Regulatory Affairs & Responsible Gaming, Entain


William J. Pascrell, III, Principal, Princeton Public Affairs Group

March 20, 2022: What’s Happening in the Gowanus?

Hoping that the years-long effort to rezone the Gowanus is coming to fruition, guests describe their commitment to the Gowanus Canal, and their views of the location as the focus of development in Kings County, creating market rate units, affordable to low-income and working-class families, mixed use commercial, industrial space, schools, spurring business and job growth.

Guest List:


Mitchell Korbey, Partner, Herrick, Feinstein LLP


Dan Marks, Partner, TerraCRG


Nicholas Silvers, Partner, Tavros Capital

March 27, 2022: What’s Happening in Long Island

Real estate developers and bankers discuss successful projects currently being developed on Long Island. With City endorsement, new projects are in construction after remaining vacant for 40 years - Long Beach - rentals and condos; Westbury - luxury condos and rentals - upgraded amenities, supporting a no maintenance life style. Banker discussed industrial properties, senior living, transit-oriented projects and repositioning of assets.

Guest List:
Scott Burman, Principal, Engel Burman
Steven Dubb, Principal, Beechwood Organization
Brian J. Terry Sr., Vice President, TD Bank

April 3, 2022: Real Estate & Business Leaders Discuss working during the pandemic

Changing jobs during a pandemic can be risky. Guests discuss their changes, from retail leasing to mortgage broker, from accountant to banker, and challenges to the future of their industry. As restrictions are relaxed, guests are optimistic about retail, the Long Island market, Gowanus, Harlem, the economy coming back, and the returning to the office.

Guest List:


Darell M. Handler, Executive Vice President, Handler Real Estate Organization


Daniel S. Markus, Sr. Vice President, NY Regional Vice President, Republic Bank


Scott A. Miller, Vice President, Meridian Capital Group, LLC

April 10, 2022: Investment Sales Update, Spring 2022

Considering the times we live in - 2021 and early 2022 were excellent years for the investment sales business. War in Ukraine, inflation, rising interest rates have impacted the industry. Guests agree: the world is shifting. Rental markets are doing well; land sales are active; private clients are buying rather than large institutional buyers. The C & D office market is very tough-but attractive. All are looking for government partnerships to significantly increase the supply of housing on the market.

Guest List:
Seth Glasser, Sr Vice President, Marcus & Millichap
Lev Mavashev, Managing Principal, Alpha Realty
Victor Sozio, Executive Vice President, Ariel Property Advisors

April 17, 2022: Real Estate Leaders View of the market

Enthusiastic! Optimistic! With energy, guests discuss office property rentals: A/B level-here to stay; C level-doing better than expected with concessions and opportunities offered renters. The pandemic proved urban anchored grocery/shopping centers to be extremely resilient as 90% of on-line, e-commerce goes through brick and mortar. Residential real estate is doing well. While people are returning to New York, problems do exist: concern about safety, inflation, supply vs demand, Ukraine, the need for responsible legislation from Albany, Affordable Housing.

Guest List:
Peter F. Castellana III, Founder, Cactus Asset Management
Bess Freedman, CEO, Brown Harris Stevens
Andrea Himmel, CIO and Principal, Himmel + Meringoff Properties

April 27, 2022: Development of Residential Rental Property in 2021

Celebrating a new year, a new administration, guests anticipate a good year for residential development, citing capital available for public/private partnerships to develop affordable housing. Guests discuss the tax credit issue of the successful Affordable New York Program-421a, land acquisition and pros and cons of areas considered for development: Harlem, Coney Island, Gowanus, East New York and more.

Guest List:
Andrew Cohen Managing Director, Development, Partner, BRP Development
Frank Dubinsky, CEO, Monadnock Development
Bryan Kelly, President, Gotham Development

May 1, 2022: What’s Happening In Westchester?

Lots of things are happening in Westchester! After a decade of no/slow development, the County is experiencing growth in multi family development, an increase in major hospitals, and other diversified expansion. Suburban office occupancy is now close to 75%; migration to the suburbs has encouraged residential development in close-to-the-city, Westchester and Stamford. Guests discuss New Rochelle, Yonkers, Port Chester and Affordable Housing.

Guest List:

Jonathan Gertman, Vice President, The NRP Group

Stuart K. MacKenzie, Vice President, CBRE

Andrew S. Weisz, Executive Vice President, RPW Group

May 8, 2022: Developments in Connecticut

Guests describe Connecticut's outlook as increasingly pro business: "heads'n'meds, with great universities, bio-tech research, medical facilities; the development rebound in Eastern Fairfield County: housing, financial services, medicine. Discussing future challenges: guests listed interest rates, keeping buildings fully rented, tenants seeking smaller office space, as employees continue to work from home, and the difficulty in financing retail and office projects.

Guest list:


Michael Belfonti, Founder & CEO, Belfonti Companies


Mark Fasano, Managing Member, R.D. Scinto, Inc.


Robert Palermo Sr, VP, Commercial Real Estate Lending, Bankwell Bank

May 15, 2022 Developments in the Rockaways

Guests discuss the Rockaways - a hidden gem - and the areas' long journey from an urban wasteland of multi acres of vacant land, through rezoning, mapping to rental apartments, two-family homes, shopping center and a YMCA, along with new development centers of affordable housing and the "bungalow," for entry-level and second home buyers, and more, all designed to encourage community living.

Guest List:
Mark Caller, CEO, The Marcal Group
Sara Levenson, Senior Director, L+M Development Partners
Gerard Romski, Sr Ptoject Executive, General Counsel, Arverme by the Sea

May 22, 2022 Developments in Inwood

It's taken a long time for Inwood, the northern most neighborhood in New York City to be open to development. As rezoning and court cases have been settled, guests discuss development that the Inwood community will experience: new parks, libraries, affordable and market rate housing, additional retail, supermarkets through the Fresh Program and community space.

Guest List:


Katherine Kelman, Managing Director, LMXD (L+M Development Partners, Affiliate)


George Tsapelas, Vice President, Taconic Partners


Eli Weiss, Founder, Principal, Joy Construction Corporation

May 29, 2022: Outlook for the State of Retail in 2022

Consulting guests and his Crystal Ball, Michael Stoler determines that "retail is booming." Food and beverage wellness concepts, wellness brands and services are coming to New York, some to integrated commercial space with food halls, fitness establishments and more. As business improves, foreign investors, new brands are looking to return or enter NYC's markets. SoHo, Broadway, brick & mortar businesses, repurposing malls and shopping centers - all discussed.

Guest List:
Jeffrey D. Roseman, Vice Chairman, Newmark
Jack Terzi, Founder & CEO, JTRE Holdings
Jeff Weinhaus, COO, Equinox Holdings

June 5, 2022 Challenges & Opportunities of Owning Real Estate

Historic One Times Square, where millions come to celebrate New Year's Eve, has been for many years - an empty shell! The building is experiencing a multi-million dollar redevelopment, benefitting the area and creating a "go-to" for tourists. Guests discussed the living / business opportunities in the Hamptons, increasingly a year-round community and Suffolk County, whose attractive tax rates and support of local leaders, is of interest to developers.

Guest List:

Elyssa Marcus, Vice President, Asset Management & Development, Jamestown LP

Joel R. Marcus, Partner, Marcus & Pollack LLP

David Shorenstein, Principal, Hildreth Real Estate Advisors

June 12, 2022

Real Estate Leaders View of the Market

Guests are optimistic! New capital and foreign reinvestments are returning to New York; rents have stayed strong in Brooklyn; commercial projects are doing well; and smaller projects in the boroughs are booming. Guests discuss buyers coming into New York with "long-term" commitments, as an example of their confidence in New York's future.

Guest List


Joseph Koicim Sr Managing Director / Partner, Co-Founder, New York Multifamily/Marcus & Millichap


Joel R. Marcus Partner, Marcus & Pollack LLP


Jesse Terry Chief Investment Officer, HUBB NYC

June 19, 2022 Money for Real Estate

Bankers agree that their focus is on support of their clients and sponsors, as they discuss a slow-down in 2022 markets, as rising interest rates - low for so long - question what real estate assets will provide lower risks to the investor. Guests comment on the greater risk in the C and D office market, some risks to multi-family and industrial assets, and their interest in limited service hotels and neighborhood retail.

Guest List:


Brad Dubeck, Real Estate Market Executive, NY/NJ Global Commercial Banking , Bank of America


Andrea Wagonseller, NYC Commercial Real Estate, Team Leader, Sr Vice President, M&T Bank


Jacob Weinstein, Sr Vice President, Head of Real Estate Bridge Lending, Customers Bank