REAL ESTATE INVESTMENT & DEVELOPMENT FORUM
Maverick Capital Partners (“Maverick”), led by Adi Chugh, is a commercial real estate private equity, debt and M&A advisory firm based in New York City. Maverick, through its extensive network, has established strong alliances with more than 150 of the largest real estate private equity firms, fund managers, commercial banks, hedge funds, specialty finance companies, balance sheet lenders and conduit lenders. The firm has strong financing capabilities across all property types, including multi-family, retail, office, mixed-use, condos, hospitality, healthcare and land.
Daniel Benedict is the Founder and President of Benedict Realty Group (BRG).
BRG is a premier real estate investment and property management firm specializing in the burgeoning middle-income residential market in New York City, core+ commercial buildings along the East Coast and Medical Office Buildings along the East Coast. BRG’s focus and deep expertise enables the firm to create value. BRG stands behind its work, investing its own capital in every single transaction. Key principals at BRG have over 100 years of experience and success through multiple real estate cycles as a real estate owner/operator.
Benedict Realty Group’s mission is to apply its expertise in residential and commercial real estate to improve the quality of life for its residents and tenants.
Eli is a Principal and serves as the Director of Development for Joy Construction Corp since joining in 2008. In that role, he runs the development and finance platform for Joy Construction which has been an active builder in New York City since 1995.
He is primarily involved in executing the development process as well the underwriting and closing of debt and equity financing for acquisitions and construction loan transactions with both public and private sector financial institutions. Additionally, he oversees and coordinates acquisitions and development joint ventures for Joy Construction.
Since joining Joy, Eli executed the acquisition and development of over 1,500 multifamily units including The Mantena (431 West 37th Street) a 112,000 sf/98 unit luxury rental building in Manhattan's Hudson Yards neighborhood where Joy served as the GC and Developer. The development set leasing benchmarks for Hudson Yards and was acquired by Equity Residential for $84,000,000 in September of 2012.
Eli executed the acquisition, development and disposition of The Nathaniel, 138 East 12th Street, an 85 unit luxury rental building in the East Village with 17,000 square feet of retail. The site was acquired in April 2011 and was completed in 2014. In February of 2015, the asset was sold to Wafra Investment Advisory for $98,250,000.
Additionally, Eli led the development team for of St Anns Terrace (www.stannsterrace.com), an affordable mixed income 850,000 square foot/641 apartment mixed use development in the South Bronx with 50,000 sq feet of fully leased grade retail. Commencing in 2009, with a total development cost of $225 million, St. Anns Terrace, was ranked as the 14th largest construction site in all of NYC including municipal projects such as the 2nd Avenue Subway Line and Water Tunnel #3.
Eli is currently managing the development of Webster Commons, a 475 unit mixed income community which received the 2016 NYSAFAH Award for Excellence in Development and Crotona Terrace, a 188 unit mixed use and mixed income project; both located in the Bronx.
Moreover, Eli has overseen the acquisition and joint venture development of, 411 West 35th Street, 445 West 35th Street, 444 Tenth Avenue and 330 East 62nd Street.
Eli graduated from Yeshiva University with a B.S. in Finance and from New York University with an M.S. in Real Estate Development. He also received his J.D. from Seton Hall School of Law where he wrote his thesis for current United States Supreme Court Justice Samuel A. Alito. Eli is admitted to practice law in the State of New York and served as an associate adjunct instructor at NYU where he taught a graduate level course on real estate finance and affordable housing.
Eric L. Birnbaum began his real estate career at Vornado Realty Trust, a publicly-traded REIT and one of the largest owners and managers of real estate in the United States. During his time in the Acquisitions and Capital Markets Group at Vornado, Mr. Birnbaum participated in the acquisition and financing of over $1 billion of office and retail assets. Realizing a passion for development, Mr. Birnbaum joined Vornado’s in-house development team, where he spearheaded Vornado’s efforts with the Port Authority to plan and ultimately develop a 1.3 million square foot Class A office and retail tower above the existing Port Authority Bus Terminal. Mr. Birnbaum left Vornado in 2009. From 2009 to 2014, Mr. Birnbaum went on his own and deployed $200 million in total capital, spread over eleven disparate transactions. The projects have ranged from mixed use development to repositioning multi family units.
Gabriel B. Shiff serves as chief investment officer of Roseland Residential Trust. Mr. Shiff is responsible for managing corporate and project-level analytics for Roseland, focusing on debt and equity financings (over $2 billion in financings since 2007), asset management activities, acquisitions and dispositions, and managing the division’s banking and investor relationships. In addition, Mr. Shiff oversees Roseland’s business plan, forecasting capital and operating needs as well as corresponding cash flow and value generation for the residential portfolio.
Prior to joining the Company, Mr. Shiff was at Bear, Stearns, & Company’s Real Estate, Gaming and Lodging (REGAL) Investment Banking Group.
Mr. Shiff received a Bachelor of Science in Finance from the Wharton School at the University of Pennsylvania in Philadelphia.
Recognized as one of the most prominent women in New York City's real estate industry, Leslie Wohlman Himmel has been Co-Managing Partner of Himmel + Meringoff Properties since she formed the company with Stephen Meringoff in 1985. Since that time, she has become one of New York's most active owners having accumulated a substantial portfolio of commercial real estate holdings valued in excess of $1 billion.
Focused on the acquisition and financing of properties that are suitable for strategic repositioning, she specializes in identifying, evaluating, negotiating and closing opportunistic purchases. Over the course of her three-decade career, she has been instrumental in over 45 acquisition and financing transactions valued in excess of $2 billion.
In 2017, Ms. Himmel was named as one of the 50 Most Powerful Women in New York by Crain’s. She was honored in 2016 as Harvard Business School Club of New York’s ‘Entrepreneur of the Year’ and, in 2011, received REBNY's Mendik Lifetime Leadership in Real Estate Award for exceptional accomplishment and dedication to leadership in New York real estate.
Ms. Himmel is a Board Member of the M&T Bank Directors Advisory Council, New York City Mortgage Committee and the Harvard Business School Club of New York. She is a member of REBNY's Board of Governors since 2001, she continues to serve as Assistant Treasurer of the Executive Committee and co-chairs REBNY's Economic Development committee which she founded in 1992. Ms. Himmel is also a member of The Real Estate Roundtable, the UDMUC Red Council of the Urban Land Institute, Young Men’s/Women’s Real Estate Association of New York and YPO/WPO.
She has made significant contributions to both the Harvard Business School and the Wharton School in support of the next generation of women leaders. Ms. Himmel is also an early stage investor and Board advisor to Hello Alfred, a successful online concierge service, developed by two women who are recent HBS graduates.
She graduated Phi Beta Kappa and Summa Cum Laude from the University of Pennsylvania and earned an MBA with high honors from the Harvard Business School.
Mr. Garfinkel is the partner in charge of AGMB’s Real Estate and Banking Practices.
Neil B. Garfinkel’s legal experience is diverse and his practice focuses on all aspects of commercial and residential real estate, title, banking law and lending law. He further advises clients on trust and estates issues and elder law issues as those issues relate to real estate and lending transactions.
Mr. Garfinkel’s clients include trade associations, national and international banks, mortgage bankers, mortgage brokers, real estate brokers, real estate developers, condominium associations, cooperative corporations, landlords, tenants, title companies, borrowers and purchasers and sellers of residential and commercial real estate.
Neil B. Garfinkel proudly serves as Broker Counsel to the Real Estate Board of New York (“REBNY”), New York City’s leading real estate trade association. In addition to counseling REBNY on the vast array of laws and regulations that affect the real estate brokerage community, AGMB hosts the REBNY Legal Line, a daily legal hotline provided exclusively for residential members of REBNY.
Through his affiliation and participation with REBNY, he has become acutely aware of the many issues that face his real estate broker clients on a daily basis. Accordingly he counsels his clients on commission disputes, licensing and disclosure requirements, agency issues, employment and wage laws, strategic alliances and affiliated business relationships and disciplinary actions instituted by governmental entities.
Mr. Garfinkel serves as counsel to the Empire State Mortgage Bankers Association and he regularly counsels his mortgage banking and mortgage broker clients on all aspects of their businesses. His expertise in cooperative corporation law has enabled him to assist national lending institutions in creating cooperative loan programs in New York. Furthermore, Mr. Garfinkel has traveled extensively throughout the country to provide training programs to the employees of his banking clients. Mr. Garfinkel has also counseled his clients on loan portfolio acquisitions and sales. He is well versed in the complex areas of federal and state licensing and lending laws and assists his clients in obtaining banking and broker licenses, as well as structuring affiliated business relationships under the Real Estate Settlement Procedures Act.
Mr. Garfinkel serves as general counsel to a real estate investment firm, where he advises these companies on legal and business issues on a daily basis. This unique combination of knowledge and experience enables him to better serve his many clients and address their needs from a multi-faceted perspective.
Mr. Garfinkel resides in Great Neck, New York with his wife. He has two children.
With more than three decades of real estate experience in New York City, Richard Grossman is well-known as an innovative, effective and strategic leader in both the residential and commercial fields. As President of Halstead Property, Richard works closely together with the Chief Executive Officer Diane M. Ramirez to form the Executive Committee of Halstead Property. In addition, he also handles the day to day operations of running Halstead's Village and Soho offices.
Under his careful and thoughtful direction, a solid network of loyal and top producing agents has been created in the Downtown Offices of Halstead. Combined with his strong leadership skills, Richard is able to provide his agents and their clients with an invaluable knowledge of the ins and outs of the real estate industry. His familiarity with the inner workings and requirements of cooperatives and condominiums provides agents and clients with valuable insight in successfully dealing with complex transactions. In addition, Richard is known for his calm and patient demeanor and is always able to address concerns and solve problems in a composed and logical manner.
Agents under his leadership have won numerous first, second and third place awards in the prestigious Real Estate Board of New York Deal of the Year awards ceremony. Richard is most proud to have mentored the Real Estate Board of New York's designation of the 2008, 2011, 2012, 2013, and 2017 Rookies of The Year.
During the course of his career, Richard has been involved with the conversion of more than 30 rental buildings to cooperative or condominium ownership. He has been directly involved in each step of the process including initial analysis of the viability of conversion, preparation and certification of schedules A & B for the offering plan, handling the sales and marketing of vacant units as well as the negotiations with existing tenants.
Prior to joining Halstead Property, Richard was the Senior Vice President and Director of Sales for Heron Properties, where he was responsible for the creation of the sales division of one of New York's most prestigious management firms and which quickly grew to 25 sales agents under his direction. While at Heron, he also served as a commercial mortgage broker, specializing in underlying mortgages for cooperative buildings. In addition, Richard brokered numerous retail and commercial transactions including the leasing of a midtown office building, several garage leases, the sale of income producing properties, as well as art galleries on 57th Street and the Chelsea art districts. Before Heron, Richard was the Director of Sales for Hahn & Mann Realty, Inc. and started his career at J.H. Taylor Real Estate, two venerable firms.
In his personal time, Richard is an avid traveler, fitness enthusiast and collector of contemporary and modern art. Richard is the past President of the Brevoort East, a luxury 330-unit cooperative building in Greenwich Village. As a committee member, he and another shareholder were responsible for a $3,600,000 tax refund to the building. In addition, Richard was the driving force behind a lawsuit that lead to the curtailment of the building's master lease that will result in over $88,000,000 dollars of additional income to the building. Richard is also a Board Member and was involved in fundraising for the NYC AIDS Memorial located in the West Village. He is a graduate of Syracuse University and he received a Diploma in Real Estate Analysis from New York University.
Morgenstern Capital is an entrepreneurial real estate investment firm and operator of New York City multifamily and mixed-use properties. Founded in 2014 by Robert Morgenstern whose ownership experience includes acquiring over 800 apartments worth more than $500 million. Morgenstern Capital utilizes a disciplined approach and proven proprietary strategies to source off market transactions, analyze and acquire underperforming assets and produce outsized risk adjusted returns to its investors.
Critical to the firm’s success are three fundamentals learned and honed over years of experience with some of the industry’s leading institutional equity partners, lenders, and business partners. Passion, Experience, and Integrity guide all investment decisions, the firm’s financial & ethical principles, and its daily enthusiasm for creating unique communities in carefully selected submarkets in the greatest city in the world. Doing only what they know best, and avoiding what it doesn’t, allows Morgenstern Capital to operate as a leading multifamily investor.
Spencer Garfield is a Managing Director at Fortress Investment Group LLC in the Credit and Real Estate business. Mr. Garfield is responsible for real estate debt originations and acquisitions, equity investing and forming strategic relationships with real estate related companies. Prior to joining Fortress, Mr. Garfield spent 12 years with Hudson Realty Capital LLC as a Managing Director responsible for loan originations, equity investments, business development and building and maintaining real estate industry relations. Mr. Garfield received his B.S. from the University of Colorado, his Masters Degree in Real Estate Finance and Investment from New York University and was an adjunct professor at NYU in the Masters in Real Estate Program for three years. Mr. Garfield has received extensive recognition for his contributions to the commercial real estate and finance community.
YJP is an exclusive community dedicated to connecting active real estate developers, owners, investors and deal-makers with the leaders and entrepreneurs of tomorrow. Our signature roundtable format was specifically designed to foster organic discussions about the future of real estate investing, develop new long-term professional relationships, and allow our members to explore potential partnerships and professional opportunities.
Please join us for gourmet bites, signature YJP cocktails, and strategic networking, as we convene the New York's top movers and shakers. Breakout sessions will be comprised of unique case studies, analysis of present/future markets, and speakers' tried-and-true tips on how to operate a successful real estate investment firm.
6:00-6:45 PM | Dinner & Cocktail Reception
7:00-8:15 PM | Five Concurrent Roundtable Panels
8:15-9:00 PM | Post-Session Networking, Cocktails & Dessert
Union Sq / Irving Pl area
This event starts on April 19th at 6:00 PM.