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How long have you been a BOMA New York member and how did you first get involved with the Association?
I have been a BOMA New York member since 2002. I first got involved in BOMA NY in the fall of 1998, when I began my career in real estate management. The Association has been instrumental in advancing my career from the inception. I was fortunate to earn a BOMA NY scholarship, which enabled me to pursue multiple professional designations. In 2005, I was recognized as Building Manager of the Year; 3-10-year category.
Prior to COVID-19, what was your favorite BOMA New York event and why?
My favorite event is the Annual Conference. I enjoy reconnecting with colleagues about work experiences and catching up about family; all in a relaxed atmosphere. The keynote speaker is always an added plus.
It’s clear that continued education is important to you via the investment you’ve made in your career. In 2019, you joined BOMI International as an Instructor. Please describe your journey throughout your career as a student, and what that looks like today as an instructor.
My journey as a student has been incredible. As a non-traditional student, during my undergraduate and graduate years, I know first-hand how difficult it is to attend courses after-hours. Many of my instructors got involved for the passion of the industry, as well as out of sheer desire to pave the foundation for up-and-coming professionals. Now, it is time for me to pay it forward, just as many instructors did for me when I was learning.
I’m most focused on connecting with the learner and meeting their educational needs. The pandemic has disrupted the conventional means of instructing. Having had the educational experience both in the classroom and in a virtual setting, I’m able to connect with students in both scenarios. Many students reach out to me after the completion of the course to thank me or ask specific work-related questions. I am humbled by the student’s dedication to their education and career advancement.
Your finance background provides you with an additional edge as a Property Manager. How does an appreciation of both the income side and expense side of management make a property manager well rounded?
Having worked for both large and small organizations, I’ve gained tremendous insight from each experience. I’ve learned that real estate is a complex business that can be categorized into three phases – acquisition, hold and disposition. Property management takes place during the hold phase, and is when a property manager can create value for the building, the owner, and all stakeholders, including but not limited to investors, building staff, vendors, etc. Consequently, it is essential that the manager understands how to think through the challenges from multiple points of view.
An example could involve capital allocation for a new acquisition. Another example is to undertake capital improvements in an existing asset. Specifically, as a manager, you may need to articulate why a chiller upgrade in an existing asset has a greater internal rate of return or net present value than purchasing a new asset, given the parity of the common variables such as the discount rate, rate of return, and existing tenant satisfaction during lease rollover – just to name a few.
Cogswell is known for its commitment to real estate innovation. How is that commitment executed via capital improvements into individual buildings? Any recent examples?
As an avid reader and networker, I’ve always stayed in close contact with established or budding technological concepts. If an idea or concept makes technical or economic sense, I will encourage ownership to pursue it. Economically, the concept must meet or exceed opportunity cost, which isn’t difficult to do in the current economic climate with low inflation and interest rates. At the same time, there must also be a utility to the end user. Presently, we are in the final stages of a multi-million-dollar capital improvement plan for the electrification of the HVAC system, of which will be integrated to a newly installed non-proprietary Building Management System. The BMS will integrate other components via BACNet open protocol of which lighting, demand control ventilation and the elevators dispatch system will be controlled. The aforementioned upgrades are aligned with long-term strategies to increase the appreciative value of our assets, while simultaneously pivoting towards compliance with local laws.
Please explain the importance of diversity and inclusion within the workspace and industry.
Diversity is paramount in any environment – not just business, education, or the workplace – but also in the community and your household. I’m not speaking in terms of just ethnicity, race, and gender, but also varied perspectives, opinions, and thought processes. For instance, when I was a graduate student earning my MBA in Taxation and Real Estate Development from Rutgers Business School, a majority of the course work involved projects and presentations. When assigned a leadership role, I selected team members with a wide range of experiences. During and at the conclusion of the projects, we often learned more from one another than we learned from other presenters.
What’s your advice to someone starting out in the commercial real estate industry?
I would encourage new practitioners to network, avoid complacency, create genuine relationships, and educate themselves on the issues before they make decisions. Today, practitioners have so many options that it can be difficult to make an optimal decision. Therefore, it is important that they assess all resources to help them navigate professional challenges. Furthermore, as the industry becomes more complex because of constantly shifting technology, education becomes a cornerstone of that process. For example, while I may never operate a chiller, I earned my refrigeration license so I could better understand the fundamentals of the refrigerant process and its impact on the environment, tenants and energy consumption. In turn, that gained knowledge led me to earn my LEED AP. As the market continues to shift towards sustainability with healthy workplaces and built environments, I’m actively pursuing my Certified Energy Manager accreditation. It never ends, so you must be able to reach out to people and gain insight while remaining malleable to the ever-shifting landscape.
When you are not working, what do you enjoy doing with your spare time?
I enjoy spending time with my wife and kids. I have been married for 20 years and have three kids between the ages of 9 and 15. I volunteer in my community as a basketball and soccer coach. I also volunteer on the township planning board and parking authority. I try to lead as the example for my kids. I’ve had the pleasure of coaching all of them at some point or another in soccer or basketball. Growing up in Brooklyn, I was not familiar with soccer, but my kids interest jolted me into the sport and several years ago, I became a nationally licensed US Youth Soccer coach. My son currently plays on the nationally ranked club team and my daughter just completed her final season with the NY Red Bulls pre-academy team. Nowadays, I prefer to observe and provide my kids direct feedback as they aspire to reach their dreams.
What’s your favorite movie?
Honestly, I don’t watch much TV. Since my son has an aspiration to be a movie director, I’ve made a concerted effort to watch more content. Last summer, he attended the Montclair Film School, and was recognized for a short film he made. Did I just dodge that question? Ok, my favorite movie is E.T.
What’s your favorite book?
This is a difficult question, I own more than 200 books, I’ve read 65% of them, others were gifts or purchased from public libraries that were closing. As a history buff and finance major, I have several favorite books that span multiple genres. Interestingly, I’m rereading one now that was given to me by former president Bill Clinton, the author is Richard Dawkins and the title is The Selfish Gene. At this point, most of my books have my personal notes and thoughts in the margin and are highlighted extensively throughout. As a lifelong learner, whether reading textbooks, or leisurely, reading has always provided a conduit to expand my knowledge as well as a portal to a diverse thought process. With that said, my favorite book was written by Dr. Stephen Covey, titled The Seven Habits of Highly Effective People. I first read this book as a young adult, and recently purchased The Seven Habits of Highly Effective Teens for my oldest child. I hope Dr. Covey’s paradigm model has the same profound effect on my son that The Seven Habits had on me.
