Investment Trends: Equity Strategies

Impact of Multifamily & SFR Trends on the Investment Sector

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  Jacob Feingold

  Head of Originations

  Canyon Partners Real Estate

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  Martin Nussbaum

  Martin Nussbaum is the co-founder and principal at Slate Property Group. He has over twenty years of experience buying, developing and operating real estate across the United States. He currently oversees the strategic visionary behind the business platform, investment decisions and overall operations of the company. With a focus on multifamily and mixed-use properties, Martin leads strategic repositioning, ground-up development and conversion projects. Under Martin’s leadership, Slate has remained an active lender in the New York metropolitan real estate market with over $1 billion in loans closed and $300 million in the pipeline. Many of these deals came through Slate’s active lending affiliate called SCALE Lending, a direct lender providing first mortgage financing secured by commercial real estate assets with a focus on senior transitional loans. SCALE leverages off the Slate platform to guide investment decisions and assess the valuation of collateral, including land acquisition, construction, new development, re-development, inventory and assets with a lease-up or reposition component. It has more than $2 billion spread across 4.2 million square feet in ongoing developments. Prior to co-founding Slate Property Group, Martin served as the co-founder and managing partner of Silverstone Property Group, a full-service real estate owner and operator in New York. While overseeing Silverstone, he purchased more than $1 billion in real estate assets. Earlier in his career, Martin worked for a family office based in New Jersey overseeing a portfolio of over 5,000 apartments and three million square feet of commercial property throughout the tri-state area. He started his career in real estate investment banking working at Wells Hill Partners. Martin received a Bachelor of Science degree from the State University of New York Albany.

  Slate Property Group

  Co-Founder, Principal

  Martin Nussbaum

  Co-Founder, Principal

  Slate Property Group

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  Tom Didio Jr.

  Tom is a Managing Director in the New Jersey office of JLL Capital Markets, Americas. Mr. Didio has been in the commercial real estate industry for nearly 10 years, including 2 years as Vice President with CBRE Capital Markets Debt & Structured Finance’s New Jersey office, 4 years in an underwriting / origination role with Freddie Mac Multifamily and 4 years with a NY private equity family office specializing in sourcing, underwriting, structuring and financing commercial real estate transactions. During his career, Mr. Didio has executed in excess of 100 transactions totaling more than $2.0 billion in volume throughout the United States, with a strong focus on the NY/NJ/CT Tri-State area. Mr. Didio obtained his Masters of Science in Real Estate Finance from New York University shortly after his undergraduate studies at Tufts University.

  JLL Capital Markets

  Managing Director

  Moderator

  Tom Didio Jr.

  Managing Director

  JLL Capital Markets

Multifamily Lending: Debt Outlook

Access to Multifamily Capital & Deal Structure

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  Robert Dusel

  Robert Dusel (New York) joined KKR in 2015 and is a member of the KKR Capital Markets team, focused on Real Estate. Prior to KKR, he spent three years at Hudson Advisors/Lone Star Funds arranging debt for the North American real estate fund. Mr. Dusel also worked previously in a capital markets capacity for Pyramid Management Group and in real estate acquisitions for Vico Capital, an Irish family office. He earned a B.S. in Industrial and Labor Relations from Cornell University and an M.Phil. in Land Economy from the University of Cambridge where he was a Cambridge Overseas Trust scholar. Mr. Dusel serves on the Board of Directors for Minds Matter of New York City, an education non-profit that provides mentorship and college guidance to low income, high-achieving high school students.

  KKR

  Director, Capital Markets Lead

  Robert Dusel

  Director, Capital Markets Lead

  KKR

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  Joseph Shanley

  Head of Acquisitions

  Haven Capital

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  Morris Betesh

  Mr. Betesh joined Meridian Capital Group in May 2017, where he leads an eight-member team. Prior to joining Meridian, he served as a Director at Cushman & Wakefield Capital Markets and a Director of Capital Services at Massey Knakal Realty Services. To date, Mr. Betesh has financed over 500 buildings across the United States and has closed well in excess of over $5 billion in transactions throughout his career. Previously, Mr. Betesh was a Portfolio Manager at a private family office, where he managed a portfolio of properties in Midtown Manhattan and was principally responsible for restructuring and developing the portfolio, in addition to directly leasing the properties and managing the finances at a corporate level. Mr. Betesh attended Brooklyn College, where he received his Bachelor of Science in Business Management and Finance and was honored with the Brooklyn College Presidential Scholarship.

  Meridian Capital Group

  Senior Managing Director

  Morris Betesh

  Senior Managing Director

  Meridian Capital Group

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  John Gilmore

  Senior Vice President and Managing Director John Gilmore brings more than a decade of commercial real estate experience to Walker & Dunlop’s Multifamily Finance Group. Mr. Gilmore is focused on the affordable multifamily space and has extensive experience sourcing loans for execution through Fannie Mae, Freddie Mac, and the Department of Housing and Urban Development (HUD). Mr. Gilmore is also highly experienced in complex deal structures including structured credit facilities, tax-exempt bonds, and federal and state tax credits. Prior to joining Walker & Dunlop, Mr. Gilmore was a Vice President and Senior Relationship Manager in the Community Development and Investment group within KeyBank Real Estate Capital. While at KeyBank, he was a member of the management team tasked with expanding the bank’s affordable housing activity to all 50 states. He originated almost $1 billion of new mortgage debt in this position. Mr. Gilmore served many additional functions throughout his career at KeyBank, including working in the bank’s Income Property Group, Asset Recovery Group, and Private Equity Group. Mr. Gilmore began his career in the commercial real estate industry at Hartford Mezzanine Investors, LLC, where he was responsible for structuring real estate investment transactions for various levels of the capital structure with a primary focus on mezzanine positions. Mr. Gilmore attended Morehouse College where he earned a Bachelor of Arts in finance and a minor in economics with cum laude honors. Beyond the company, he is active in industry associations and is a member of the MBA’s Affordable Rental Housing Advisory Council as well as the Urban Land Institute’s (ULI) Affordable & Workforce Housing Product Council. Mr. Gilmore also serves on the board of Bridge Street Development Corporation and the steering committee of the Real Estate Associates Program.

  Walker & Dunlop

  SVP and Managing Director

  John Gilmore

  SVP and Managing Director

  Walker & Dunlop

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  Michael Lefkowitz

  Michael E. Lefkowitz is Managing Member of Rosenberg & Estis, P.C. and a leader of the firm’s Transactional Department. Over the past 20 years, Mr. Lefkowitz has been involved in many aspects of the firm’s activities, including litigation, appeals and administrative law. Mr. Lefkowitz specializes in representing clients in commercial real estate transactions. His focus for many years has been representing lenders and borrowers in completing financing transactions, and workouts of loans on troubled assets. Since joining Rosenberg & Estis, he has greatly expanded the firm's expertise in this sector. Mr. Lefkowitz has been working closely with lenders and borrowers on creative solutions to restructure loans and rework the debt on troubled real estate assets, often avoiding the lengthy and costly foreclosure and bankruptcy process. Mr. Lefkowitz also represents commercial property owners, providing his legal expertise in all other aspects of real estate including leasing and purchase and sale transactions. He worked with the insurance market following the events of September 11, 2001 and Hurricane Sandy assisting many insurance companies in assessing the loss measure of many downtown buildings including the World Trade Center Complex. He continues to represent insurers in connection with complex real estate valuations, soft cost claims and rental value losses. Mr. Lefkowitz is also an active principal in a family owned real estate business. The company owns more than one million square feet of retail, office and industrial real estate throughout the U.S. Mr. Lefkowitz's experience with managing and developing his own properties has given him an understanding of all the issues concerning commercial real estate from a number of different perspectives. His broad skill set provides him with the knowledge of the numbers behind a deal, the real value of a project, and whether a transaction truly makes sense.

  Rosenberg & Estis

  Managing Member

  Moderator

  Michael Lefkowitz

  Managing Member

  Rosenberg & Estis

Designing & Building Multifamily

Prioritizing Speed to Market & Tenant Demands

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  Josh Schuster

  In just over a decade, Josh Schuster has established himself as a leader of the ‘next generation’ of New York real estate professionals. Having closed more than $1 billion in development deals by the age of 34, Josh started his own development company in July 2016, Silverback Development, focusing on ground-up development and adaptive reuse opportunities that enhance neighborhoods by pushing the boundaries of design.   In Silverback’s first year, Schuster and his team secured nearly $470 million in new deals and control of a $2 billion asset pipeline nationwide, in addition to $400 million in projects still underway through his previous firm, DHA Capital.   As former principal of DHA Capital, Josh sourced and led the development of many noteworthy luxury residential developments in New York City, including 50 Clinton Street, 535 West 43 rd  Street, 75 Kenmare and 12 East 13 th  Street. Prior to his time at DHA, Josh served as director of development at JMH Development, where he was responsible for the trailblazing luxury renovation of 184 Kent Avenue, one of the first and most successful multifamily conversions in Williamsburg, Brooklyn.   In addition to his professional accomplishments, Josh is the founder and chairman Bicol Clinic Foundation, a non-profit organization that builds clinics that provide free medical care in developing countries. To date, the organization has raised more than $3 million, and has built four clinics on three continents.   A graduate of Tulane University, Josh is the youngest board member of the Baruch College - Steven L. Newman Real Estate Institute, and also a co-chair of Urban Land Institute's NYC Multifamily Housing Council. He is also a member of the American Real Estate and Urban Economics Association, and the New York Private Equity Network.

  Silverback Development

  Managing Principal

  Josh Schuster

  Managing Principal

  Silverback Development

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  Susan Erdelyi Hamos

  Susan Erdelyi Hamos is a Senior Vice President at WSP Buildings USA, one of the largest professional services firms in the world, During her tenure at WSP, Susan has continuously progressed through the ranks to become an essential leader in the firm and a constant actor in the local structural engineering sphere. Susan’s responsibilities at WSP encompass not only structural analysis and design, but also coordination, project management and supervision of the WSP Special Inspection Agency. Her expansive area of expertise now comprises new construction of high-rise, commercial, residential, hospitality, retail, entertainment, industrial buildings, as well as alteration and rehabilitation of existing structures. It is not an exaggeration to state that Susan’s attention to detail and dedication to her clients has had notable impact in reshaping the skyline of New York City during the past two decades. Susan’s portfolio includes some of the most iconic and structurally unique buildings in the city. A small sample of her completed projects include The American Copper Buildings, Columbia Manhatanville, Essex Crossing (Site 2), 9 Dekalb Avenue, 8 Spruce street, 23 Park Row and 45 Park Place.

  WSP Buildings USA

  Senior Vice President

  Susan Erdelyi Hamos

  Senior Vice President

  WSP Buildings USA

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  Victor Malerba Jr.

  Victor Malerba Jr. is an award-winning Associate Principal Architect for MG2. Using his almost two decades of industry experience garnered from firms like Arquitectonica, he spearheads community environment partnerships and projects for growing the MG2’s New York office. With diverse specialties ranging from mixed-use complexes and multi-family residential to hospitality and healthcare experiences, Victor is LEED GA accredited and continually views the design of each project through a future-centric lens. His real-time experience on all phases of projects—from concept through construction— further grants him a unique perspective of focusing on the big picture while still ensuring no details are overlooked.

  MG2

  Associate Principal

  Victor Malerba Jr.

  Associate Principal

  MG2

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  Raul Gutierrez

  Raul Gutierrez founded ITALKRAFT, a luxury Italian kitchen, bath, closet and millwork firm, with Alex Xakoustis in 2011. He manages the brand’s overall planning and strategy for purchasing and product development. A savvy businessman, Gutierrez negotiates long-term deals with raw material suppliers throughout the world, while simultaneously creating installation methods to provide clients with swift service and to maximize their investments. Through his extensive network of contacts with developers of luxury real estate projects and leading interior designers, Gutierrez has successfully gained ITALKRAFT access into some of the most coveted condominium and private residential projects on the market. These long standing relationships have aided Gutierrez in expanding ITALKRAFT’s reach into new markets including California, Houston, New York, Chicago and Washington D.C. In addition to his extensive sales capabilities, Gutierrez served as a board member for several prestigious construction companies. In this role, he opened and managed 18 branch offices in South America, Central America and the Caribbean, spearheading the construction of major airports, hospitals and hotels within these three markets, which were new territories for the brands at the time. Gutierrez is a native of Miami and returned to his home after graduating from the College of the Holy Cross in Massachusetts. He is heavily involved in the community and is dedicated to being an instrumental part of the city’s continued growth.

  ITALKRAFT

  Co-Founder and Partner

  Raul Gutierrez

  Co-Founder and Partner

  ITALKRAFT

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  Kenneth Wille

  Mr. Kenneth F. Wille, CEO: Professional Engineer licensed in multiple states and based in NY, Building Performance Analyst, LEED AP, Certified Energy Manager, and Green Building Engineer with the Association of Energy Engineers. Mr. Wille was involved in developing HUD Green Mark to Market requirements and qualifications following participation in HUD Green Retrofit Program. A seasoned construction consultant with over 5,000 construction loan monitoring inspections, 1,000+ Property Needs Assessments and 100+ energy audits under his utility belt. Mr. Wille has been numerous boards, podcasts and panels and is a published author with an educational building inspection series available on the KOW YouTube channel.

  KOW Building Consultants

  President and CEO

  Moderator

  Kenneth Wille

  President and CEO

  KOW Building Consultants

Affordable Housing: Increasing Funding & Supply

Practical Ways to Increase Housing Stock

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  Tricia Yarger

  Tricia Yarger is the Head of Capital Markets at Fairstead, where she manages the firm’s debt and equity relationships while helping outside capital partners direct their investments into Fairstead properties. Tricia was a Director with Citi Community Capital for more than a decade, responsible for the origination and structuring of affordable multifamily debt transactions in the eastern region, including New York City. Tricia has been involved in the affordable housing industry since 2005. She has closed nearly 200 multifamily affordable housing real estate transactions creating and renovating 28,100 apartments totaling more than $3.39 billion of debt originations. Prior to Citi, she was a Senior Vice President at Centerline Capital Group responsible for property acquisitions for Centerline’s Low Income Housing Tax Credit funds. Before working at Centerline, Tricia was at General Electric for six years in various finance roles. Tricia graduated Magna Cum Laude from Boston College with a BS degree in Finance.

  Fairstead

  Head of Capital Markets

  Tricia Yarger

  Head of Capital Markets

  Fairstead

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  Carolee Fink

  Principal

  MSquared

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  Spencer Orkus

  Spencer Orkus is a Partner and the President of Development at L+M Development Partners who has been with the company since 2007. He has developed over 5,000 affordable new construction units within various mixed-use new construction projects compiling over $2.5 billion in financing resources. Spencer leads L+M’s efforts to provide housing that is healthy, energy-efficient, and resilient to climate change. He is passionate about the intersection of housing, healthcare and food access, partnering with various healthcare providers, food-oriented social justice enterprises and other non-profits. He has led L+M’s venture into the new era of sustainable construction, having completed our first passive house project with geothermal heating/cooling and NYC’s first net-zero community in the pipeline. Prior to joining L+M, Spencer worked as a licensed structural engineer for DeSimone Consulting Engineers designing high-rise residential buildings and other structures. He has a BA and MA in Architectural Engineering from Penn State University and an MA in Real Estate from New York University’s Schack Institute of Real Estate. He is co-chair of the NYSAFAH policy committee, a board member of New York Passive House and serves on the Hastings on Hudson waterfront zoning committee.

  L+M Development Partners

  Partner, President, Development

  Spencer Orkus

  Partner, President, Development

  L+M Development Partners

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  Rob Wrzosek

  Rob Wrzosek is President - Affordable Strategies at NewPoint Real Estate Capital, responsible for developing proprietary non-agency executions and managing investments in affordable housing bonds. He has over two decades of multifamily and affordable housing finance experience. Prior to joining NewPoint, Wrzosek was Head of Multifamily at Bluefin Capital Management. Previously, he was responsible for the affordable housing and HUD/FHA finance businesses of Berkeley Point (now Newmark). During his career, Wrzosek has served on the board of directors of Walker & Dunlop, was President of Hunt Mortgage Group, and managed the tax-exempt affordable housing securitization and tax equity syndication platforms for Credit Suisse. He has also acted as an outside advisor to the Obama Administration on issues pertaining to the LIHTC program, and was a partner at Eichner & Norris PLLC, a Washington, DC-based law firm. Wrzosek holds both a Bachelor of Science in Finance and a Bachelor of Arts in Philosophy from Ithaca College, a J.D. from Duke University School of Law, and a Master of Laws in Taxation from Georgetown University Law Center.

  NewPoint Real Estate Capital

  President – Affordable Strategies

  Rob Wrzosek

  President – Affordable Strategies

  NewPoint Real Estate Capital

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  David Walsh

  David Walsh is Managing Director of Community Development Real Estate and presently oversees all financing activities of affordable housing transactions in the Northeast Region for the bank. Prior to joining Chase in 2011, Mr. Walsh served as Senior Vice President of Multifamily Programs for New York State Homes & Community Renewal (“HCR”) where he oversaw the structuring and overall financing of over 10,000 units of mixed income and affordable housing located throughout the State of New York. Prior to his work at HCR, Mr. Walsh served as the Director of NYC Housing Development for Common Ground Community, a non- profit housing development organization specializing in housing for the homeless, overseeing the design and development of approximately 1,000 units of supportive housing in the metropolitan area. Mr. Walsh also served for two years as the Director of Brokerage in the Real Estate Investment area of the Wafra Investment Advisory Group, a U.S. registered investment advisor wholly owned by the Public Institute of Social Security for Kuwait, and for seven years as Senior Vice President of the LCP Group, LP, a privately held real estate investment holding company acquiring net leased properties on behalf of in-house investment partnerships and advised institutional clients. Mr. Walsh received a Masters Degree from Columbia University’s School of Architecture, Planning & Preservation and an undergraduate degree from Western New England College.

  Chase

  Managing Director/Northeast Division Manager

  David Walsh

  Managing Director/Northeast Division Manager

  Chase

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  Terry Baydala

  Mr. Baydala has 36 years of experience in commercial real estate industries, is located in New York, NY and is responsible for originations. Mr. Baydala was previously an Executive Vice President with Meridian Capital Group, LLC (“MCG”) where he launched an institutional advisory platform principally focused on buy and sell-side syndication advisory related to large commercial mortgage loans. Prior to joining MCG, Mr. Baydala was a Senior Vice President, Commercial Real Estate Banking, at Anglo Irish Bank where he established and managed Anglo’s North American Syndication Desk focusing on A-note, B-Note and mezzanine positions for domestic and international capital providers. Prior to Anglo Irish, Mr. Baydala was a Senior Vice President / Senior Investment Officer with Arbor Realty Trust, Inc. / Arbor Commercial Mortgage, LLC where he originated, structured and closed high yield mezzanine, preferred equity and senior debt transactions with nationally-based developers and owners. During his tenure at Arbor, Mr. Baydala also served as Chief Underwriter and Credit Committee Chair for Arbor’s Fannie Mae “DUS” and HUD multifamily lending programs. Mr. Baydala earned a B.B.A. in Finance and Accounting from St. Bonaventure University and is a designated member of the Counselors of Real Estate (“CRE”).

  Pembrook Capital

  MD, Originations

  Moderator

  Terry Baydala

  MD, Originations

  Pembrook Capital

Residential & Luxury Condos: Managing Tech & Tenant Demands

Development Pipeline, Demand, Tech & Amenities

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  Nancy Goldsmith

  Nancy Goldsmith, Managing Director of Operations, has worked with the principals of The Bozzuto Group for 25 years. Nancy oversees operations for an apartment portfolio of over 37,000 units across 135 communities containing over 700,000 square feet of retail in New Jersey, New York, Pennsylvania, Connecticut, and Massachusetts. Nancy works in conjunction with the executive team to drive performance at the property level and provide strategic support to both her clients and team. Throughout her career in property management, Nancy has led the completion of over 100 lease-ups in various markets. During her time as Senior Vice President, she led a team of eight regional managers focused on expanding operations from the Mid-Atlantic into New England. During her time as a Regional Portfolio Manager she was responsible for 30 different communities. Prior to this role, she served as a tenured Property Manager for five Bozzuto managed communities. Nancy also worked for Simpson Property Group, Legacy Partners, and the Housing Opportunities Commission in Montgomery County, Maryland.

  Bozzuto

  Managing Director, Operations

  Nancy Goldsmith

  Managing Director, Operations

  Bozzuto

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  Bob DiProspero

  Bob DiProspero is the Director of Sales for Kastle’s Northeast region and is responsible for driving sales growth within the commercial and multi-family real estate verticals. Bob has spent over 25 years with Kastle in a variety of operational and sales roles. Prior to his current position, Bob spearheaded Kastle’s entry into the San Francisco Bay Area, helping dozens of commercial buildings improve their building operation and tenant experience.

  Kastle

  Director of Sales - Northeast

  Bob DiProspero

  Director of Sales - Northeast

  Kastle

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  Elise Rosemarin

  Senior Vice President

  AKAM

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  Marc Kotler

  Marc Kotler is Senior Vice President of the New Development Group at FirstService Residential New York, a division that specializes in developer consulting and management of new and young properties. Over the last decade, he has successfully built the division into an industry leader by providing developers with services that are essential to successfully opening new properties – either from the ground up or via conversion. His team has advised on opening 100 luxury condominiums and mixed-use residential properties throughout Manhattan, Brooklyn and Queens. Marc has extensive experience working with young condominiums and the challenges associated with seamlessly transitioning from sponsor to resident control. He has assembled a team that specializes in the issues related to opening and operating new luxury buildings. Marc’s managerial and financial acumen, superior consulting services, and systematic approach to development has enabled him to work on some of the most complex, multi-purpose, luxury development projects in Manhattan, including New York by Gehry at 8 Spruce Street, The Plaza Residences, One Morton Square, Greenwich Club Residences, The Downtown Club Condominium, and One Lincoln Square. Prior to joining FirstService Residential in 2003, Kotler was the Director of Management of a mid-size property management firm in Manhattan. He has spent more than two decades as a real estate professional specializing in luxury high rise property management, new development construction, project management and asset management. Marc is a graduate of Clark University and a Licensed Real Estate Broker.

  FirstService Residential

  President

  Marc Kotler

  President

  FirstService Residential

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  Bill Fried

  Bill Fried is a partner and co-chair of the Litigation Department, where he focuses on complex commercial litigation, with an emphasis on construction and real estate disputes, trust and estate litigation, and business divorces. Bill’s clients, which include financial institutions, corporations, real estate owners, sponsors, developers, contractors and construction professionals, rely on his tenacity and resourcefulness to successfully resolve even the most contentious disputes. He has significant experience counseling clients through the alternative dispute resolution process, either through negotiation, mediation or arbitration, and has substantial trial and appellate experience in state and federal courts. Real Estate and Construction Litigation Drawing on his extensive experience in construction, development, finance and investment, Bill frequently advises prominent members of the real estate industry, including owners, developers, financial institutions, sponsors, design professionals, construction professionals and condominium boards. Bill’s clients benefit from Bill's aggressive representation of their interests in construction defect disputes, mechanics liens, breaches of contracts, professional malpractice, and a wide range of related matters. Complex Commercial Litigation Bill’s commercial litigation experience is broad, and he is frequently called on to resolve high-profile disputes. Recently, Bill has advised sports memorabilia giant Lelands in the settlement of federal litigation involving NFL legend Jim Brown’s 1964 championship ring, a real estate developer in the successful resolution of multi-state litigation stemming from the cancelled development of a $2.5 billion W Hotel in Las Vegas, and a member of a prominent real estate family in a business divorce involving $200 million in real estate assets. Trust and Estate Litigation High-net-worth clients and financial institutions also turn to Bill to resolve significant trust and estate disputes. He frequently advises clients on highly-charged will and trust contests, business and asset valuations, and Article 81 guardianship proceedings in New York State Supreme Court. Bill is also a member of the Board of Directors and General Counsel of the West Harlem Community Organization, Inc.

  Herrick Feinstein

  Partner

  Moderator

  Bill Fried

  Partner

  Herrick Feinstein