Nearly 250 New York City real estate professionals joined Ariel Property Advisors at its bi-annual Coffee & Cap Rates event in Midtown on February 8. The networking breakfast was exclusively sponsored by Citrin Cooperman, an accounting, tax, and consulting firm, and featured a panel of some of NYC’s most influential real estate executives to discuss the event’s theme: The 2018 Investment Outlook.
Shimon Shkury, Founder and President of Ariel Property Advisors, kicked off the event on Park Avenue at Club 101 with a presentation on New York City investment property sales in 2017, referencing the firm’s recently released year-end reports. He also talked about the current state of the market and provided his outlook for 2018.
Michael Stoler, Managing Director at Madison Realty Capital, moderated a spirited and insightful panel discussion about New York City real estate, with a particular focus on multifamily and development assets. Mr. Stoler, who also hosts “The Stoler Report - New York’s Business Report,” asked questions that focused on investment opportunities, Affordable New York, the impact of tax reform, and the overall state of the market.
Panelists Seth Weissman, Founder and Managing Member of Urban Standard Capital (USC), and Joseph Pistilli, CEO of Pistilli Realty Group, shed light on the neighborhoods and properties they currently favor and those they are avoiding.
Fellow panelists Adam Mermelstein, Managing Member at Treetop Development, provided thoughts on his firm’s decision-making process for recent projects they have undergone, and Joe Bublé, Partner at Citrin Cooperman, gave valuable insight about how new tax laws may impact real estate.
The four esteemed panelists also conversed about the current financing and business environment, obstacles the market faces, and areas they view as having the most upside potential, particularly in Brooklyn and Queens.
All ticket proceeds from the event were directly donated to the nonprofit Legal Outreach. At the event, James O’Neal, Executive Director of Legal Outreach, shared the goals and objectives of his organization, which helps young people from underserved New York City communities gain admission to the country’s most competitive colleges and universities.
Join Ariel Property Advisors & Citrin Cooperman at Club 101, 101 Park Avenue, for a networking breakfast and panel discussion about the 2018 Investment Outlook.
Following a brief presentation of our latest research and insights by event host Shimon Shkury, President of Ariel Property Advisors, Michael Stoler, Managing Director of Madison Realty Capital and host of The Stoler Report, will moderate a panel discussion titled "The 2018 Investment Outlook".
Ariel Property Advisors presents Coffee & Cap Rates℠ semi-annually to share the latest trends in the investment sales market with clients and contacts. More than 300 real estate professionals attended the previous Coffee & Cap Rates℠ event.
Club 101 is located on Park Avenue between East 40th and 41st Streets, just south of Grand Central Terminal. The club enjoys close proximity to the Metro North Rail Road and the 4, 5, 6, 7, and Shuttle subway lines at Grand Central.
The $72 registration fee will be donated to Legal Outreach, a nonprofit that prepares urban youth from underserved communities in New York City to compete at high academic levels.
CLUB 101, 101 PARK AVENUE
8:00am – 10:30 am
Breakfast & Networking
NYC Market Overview Presentation
Q&A + Networking
Please contact Julie Haviv
or call 212.544.9500 ext.19.
Shimon Shkury is the founder and President of Ariel Property Advisors, a New York City investment property sales firm with an expertise in the multifamily asset class and development sites. In this role, he oversees all investment sales and research operations for the company. Since 2002, Mr. Shkury has advised private clients, institutions, operators, equity providers and lenders on pricing, positioning and selling assets throughout New York City.
Michael Stoler is the President of New York Real Estate TV, LLC a management consulting firm and Managing Director at Madison Realty Capital, a private equity firm. Mr. Stoler is the host and executive producer of ''The Stoler Report-New York's Business Report'', now in its fifteen season. He is also the host of ''Building New York-New York Life Stories'', which is in its eleventh season. He previously served as a senior principal at Apollo Real Estate Advisors (AREA Property Partners).
Seth Weissman is the Founder and Managing Member of Urban Standard Capital (USC). USC manages real estate private equity funds focused on core-plus and value-add equity opportunities in New York City and provides real estate financing (preferred equity, senior bridge loans and mezzanine financing) up to $10mm to 3rd parties.
Prior to founding USC, Seth worked in the real estate private equity group of Perry Capital, a multistrategy hedge fund. Prior to Perry Capital, Seth was a member of Goldman Sachs’ Investment Banking Division. Seth earned his BS in Economics from the Wharton School of Business at the University of Pennsylvania.
Joseph Pistilli formed Pistilli Realty Group in 1975 with just 1 building and is the company's CEO which owns approximately 70 buildings incorporation about 8,500 units and 1,000,000 square feet of commercial space.
HQ is located in the heart of Astoria at 30th Avenue and 35th Street, above First Central Savings Banks. The building won an award for its construction. The contractor was Pistilli Construction and Development Corp., a company co-founded by Mr. Pistilli in 1997. First Central Savings Bank was formed in 1999 by Mr. Pistilli and now has 8 locations.
Adam Mermelstein is highly regarded for his instinctual ability to recognize neighborhoods and properties with untapped potential. His proactive management style allows the firm to cultivate new opportunities, increase revenue, lower expenses and generate greater asset turnaround. Mr. Mermelstein has owned more than five thousand residential units in New York City and New Jersey, as well as a large national HUD portfolio. He has overseen the construction and renovation of residential projects throughout the tri-state area with a proven track record for successfully acquiring, repositioning and launching buildings.
Joe Bublé, a partner in the firm’s New York City office, leads Citrin Cooperman’s tax practice. He concentrates on strategic tax planning, mergers and acquisitions and sophisticated tax research for businesses and individuals. He is involved in all aspects of his clients' tax and financial planning, from the acquisition, operation, and disposition of businesses, to individual income and estate tax planning.
Joe has extensive experience with the taxation of partnerships, limited liability companies, C corporations, S corporations, and high net worth individuals. He speaks extensively on tax and strategic planning matters, and is frequently quoted in the media on tax issues.
Legal Outreach prepares urban youth from underserved communities in New York City to compete at high academic levels by using intensive legal and educational programs as tools for fostering vision, developing skills, enhancing confidence, and facilitating the pursuit of higher education.
Citrin Cooperman, exclusive sponsor of Coffee & Cap Rates, is a nationally recognized full-service accounting, tax, and consulting firm with offices conveniently located throughout the Northeast. Since 1979, they have steadily built their business by helping companies and high net worth individuals find smart solutions. Whether your operations and assets are located around the corner or across the globe, they can provide new perspectives on strategies that will help you achieve your short- and long-term goals.