Opening Remarks:
Gary Barnett, Founder & Chairman
Extell Development Company
Gary Barnett is Chairman and Founder of Extell Development Company, a full-service real estate developer of residential, commercial and hospitality properties. Extell is one of New York’s most active developers and has owned and developed a portfolio in excess of 25 million square feet. The Extell success story includes developing some of the world’s most preeminent residences throughout New York City and other premier markets across the nation. In 1989, Mr. Barnett recognized the potential of the real estate market in the United States, with a focus on New York City. He began acquiring real estate assets throughout the country and formed Extell Development Company. Today, Mr. Barnett and his team power one of the most recognizable full-service development companies in the country. From the outset, Mr. Barnett has been committed to delivering quality, value, and beauty. Among Extell’s most notable projects are One57 and Central Park Tower, the record-breaking glass towers overlooking Central Park that are redefining the New York City skyline; One Manhattan Square a vertical village on the edge of the New York Harbor that includes over 800 condominiums and over 100,000 square feet of amenities; and the development of Riverside South, a vibrant new neighborhood on the Upper West Side. A born-and-bred New Yorker, Gary received his Bachelor of Arts degree in math from Queens College and a Master's in Economics from Hunter College.
Extell Development Company
Gary Barnett is Chairman and Founder of Extell Development Company, a full-service real estate developer of residential, commercial and hospitality properties. Extell is one of New York’s most active developers and has owned and developed a portfolio in excess of 25 million square feet. The Extell success story includes developing some of the world’s most preeminent residences throughout New York City and other premier markets across the nation. In 1989, Mr. Barnett recognized the potential of the real estate market in the United States, with a focus on New York City. He began acquiring real estate assets throughout the country and formed Extell Development Company. Today, Mr. Barnett and his team power one of the most recognizable full-service development companies in the country. From the outset, Mr. Barnett has been committed to delivering quality, value, and beauty. Among Extell’s most notable projects are One57 and Central Park Tower, the record-breaking glass towers overlooking Central Park that are redefining the New York City skyline; One Manhattan Square a vertical village on the edge of the New York Harbor that includes over 800 condominiums and over 100,000 square feet of amenities; and the development of Riverside South, a vibrant new neighborhood on the Upper West Side. A born-and-bred New Yorker, Gary received his Bachelor of Arts degree in math from Queens College and a Master's in Economics from Hunter College.
Greetings & Comments NYRAC Co-Chairs:
Heather McDonough Domi, Founding Chairperson of NYRAC
Compass
Heather McDonough, a founding partner of the McDonough Hershkowitz Team at Compass, has over 17 years of real estate experience in the Manhattan and Miami luxury markets. Heather and her partner, Henry Hershkowitz, have collectively sold more than $1 billion in residential real estate in New York City and are consistently ranked in the top 1% nationally by the Wall Street Journal Real Trends and within the top 30 in NYC. Having worked alongside the most exclusive developers to create, market and sell cutting-edge properties at the maximum price, Heather draws from her new development skill-set for strategic product positioning, innovative marketing, strong analytical analysis and expert negotiations to benefit her clients’ buying and selling needs. In addition to a robust resale business, she has managed sales for Related Companies at 520 W 28th by Zaha Hadid, Soho Mews and 15 William Street. She’s been recognized for her work in many local and national publications.
Compass
Heather McDonough, a founding partner of the McDonough Hershkowitz Team at Compass, has over 17 years of real estate experience in the Manhattan and Miami luxury markets. Heather and her partner, Henry Hershkowitz, have collectively sold more than $1 billion in residential real estate in New York City and are consistently ranked in the top 1% nationally by the Wall Street Journal Real Trends and within the top 30 in NYC. Having worked alongside the most exclusive developers to create, market and sell cutting-edge properties at the maximum price, Heather draws from her new development skill-set for strategic product positioning, innovative marketing, strong analytical analysis and expert negotiations to benefit her clients’ buying and selling needs. In addition to a robust resale business, she has managed sales for Related Companies at 520 W 28th by Zaha Hadid, Soho Mews and 15 William Street. She’s been recognized for her work in many local and national publications.
Cathy Taub, Founding Chairperson of NYRAC
Sotheby’s International Realty
Cathy Taub is a Senior Global Real Estate Advisor, Associate Broker, with Sotheby’s International Realty with over $1.9 billion in career sales and 16+ years of experience. Cathy is a top 25 agent within Sotheby’s International Realty nationwide and consistently ranks in the top 1% of all agents countrywide. Cathy’s clients benefit from her years in law practice—as a detail-oriented, creative dealmaker, negotiator and problem solver, she has established important relationships based on trust andrespect among clients and industry peers. Highly regarded within the brokerage community, Cathy is a frequent industry panelist and her opinion is often sought by the press. Her expertise also extends to the new development arena; she has extensive experience with the early stage planning, marketing and sales of new condominiums. She is currently involved with the sales and marketing at the highly anticipated condominium conversion of Tamarkin Co.’s 555 West End Avenue.
Sotheby’s International Realty
Cathy Taub is a Senior Global Real Estate Advisor, Associate Broker, with Sotheby’s International Realty with over $1.9 billion in career sales and 16+ years of experience. Cathy is a top 25 agent within Sotheby’s International Realty nationwide and consistently ranks in the top 1% of all agents countrywide. Cathy’s clients benefit from her years in law practice—as a detail-oriented, creative dealmaker, negotiator and problem solver, she has established important relationships based on trust andrespect among clients and industry peers. Highly regarded within the brokerage community, Cathy is a frequent industry panelist and her opinion is often sought by the press. Her expertise also extends to the new development arena; she has extensive experience with the early stage planning, marketing and sales of new condominiums. She is currently involved with the sales and marketing at the highly anticipated condominium conversion of Tamarkin Co.’s 555 West End Avenue.
State Budget Update:
John H. Banks, President
REBNY
John H. Banks is the President of the Real Estate Board of New York (REBNY), the City’s leading real estate trade association which represents commercial, residential, and institutional property owners, builders, managers, investors, brokers, salespeople, and other corporations and individuals professionally interested in New York City real estate. Banks is a leading advocate for responsible pro-growth public policies to address the critical need to build and maintain housing at all income levels in every New York City neighborhood, commercial space to attract and retain businesses and accommodate the City’s growing population, and additional tax revenue to fund vital government services. Since his appointment in 2014, REBNY’s efforts have paved the way for: the production of more affordable housing, including advocating for the enactment of the Affordable New York Housing Program (formerly known as 421-a); economic development initiatives, such as the Greater East Midtown Rezoning; the Special Garment Center District text amendment and legislation to address critical issues ranging from sustainability and illegal short-term rentals to landmarking. Banks has led the effort to organize REBNY members to protest ill-advised legislation that would negatively impact all commercial leases and raise residential rents across New York City. During John Banks’ tenure, REBNY has made technology and innovation a focal point of its services with significant enhancements to its Residential Listing Service (RLS) to benefit members and consumers alike with clean, accurate, and comprehensive residential listing data. In 2017, Banks became the Chairman of Building Skills New York, a not-for-profit organization committed to connecting New Yorkers with historically high rates of unemployment and poverty to quality training and expanded career opportunities in the construction industry. Prior to REBNY, John was Consolidated Edison’s Vice President of Government Relations. He served as Vice Chairman of the New York City Charter Revision Commission in 2010 and worked on New York City Mayor Bill de Blasio’s transition in 2013. Previously, John served as Chief of Staff for the New York City Council and Deputy Director of the Council’s Finance Division. Banks’ first role in government was working for Mayor Edward Koch in his Office of Operations after graduating from Manhattan College with a bachelor’s degree in Economics and Government. Banks holds a Master of Public Administration degree from Baruch College. He serves on the boards of the New York Public Library, Vincent J. Fontana Center for Child Protection, and Manhattan College. He resides in Pelham Manor, New York with his wife and two children.
REBNY
John H. Banks is the President of the Real Estate Board of New York (REBNY), the City’s leading real estate trade association which represents commercial, residential, and institutional property owners, builders, managers, investors, brokers, salespeople, and other corporations and individuals professionally interested in New York City real estate. Banks is a leading advocate for responsible pro-growth public policies to address the critical need to build and maintain housing at all income levels in every New York City neighborhood, commercial space to attract and retain businesses and accommodate the City’s growing population, and additional tax revenue to fund vital government services. Since his appointment in 2014, REBNY’s efforts have paved the way for: the production of more affordable housing, including advocating for the enactment of the Affordable New York Housing Program (formerly known as 421-a); economic development initiatives, such as the Greater East Midtown Rezoning; the Special Garment Center District text amendment and legislation to address critical issues ranging from sustainability and illegal short-term rentals to landmarking. Banks has led the effort to organize REBNY members to protest ill-advised legislation that would negatively impact all commercial leases and raise residential rents across New York City. During John Banks’ tenure, REBNY has made technology and innovation a focal point of its services with significant enhancements to its Residential Listing Service (RLS) to benefit members and consumers alike with clean, accurate, and comprehensive residential listing data. In 2017, Banks became the Chairman of Building Skills New York, a not-for-profit organization committed to connecting New Yorkers with historically high rates of unemployment and poverty to quality training and expanded career opportunities in the construction industry. Prior to REBNY, John was Consolidated Edison’s Vice President of Government Relations. He served as Vice Chairman of the New York City Charter Revision Commission in 2010 and worked on New York City Mayor Bill de Blasio’s transition in 2013. Previously, John served as Chief of Staff for the New York City Council and Deputy Director of the Council’s Finance Division. Banks’ first role in government was working for Mayor Edward Koch in his Office of Operations after graduating from Manhattan College with a bachelor’s degree in Economics and Government. Banks holds a Master of Public Administration degree from Baruch College. He serves on the boards of the New York Public Library, Vincent J. Fontana Center for Child Protection, and Manhattan College. He resides in Pelham Manor, New York with his wife and two children.
The Panelist:
Bess Freedman, CEO
Brown Harris Stevens
The firm's first Chief Executive Officer Bess Freedman is a strong leader, motivator and educator. Formerly Co-President of Brown Harris Stevens, and a Senior Managing Director of the Corcoran Group's East Side headquarters, Bess brings to her real estate career top professionalism, interpersonal skills and negotiating savvy that are well respected by her industry peers and agents alike. Bess was appointed in 2013 by Brown Harris Stevens President Hall F. Willkie to foster business development. With special attention to the extraordinary Brown Harris Stevens history, culture, narrative and brand, Bess now leads a cohesive working environment that invites mutual inspiration and sharing. She enjoys being a trusted resource and finding creative solutions to every situation, particularly new ways to pitch and market listings, to coach agents through difficult negotiations, choosing excellence. Prior to her promotion to Senior Managing Director at Corcoran, as an agent Bess attained great success at their Carnegie Hill office. Bess achieved repeated membership in their Multi-Million-Dollar Club thanks to her exemplary customer service, knowledge of the market and results. Originally from upstate New York, Bess earned her undergraduate degree from Ithaca College and her law degree from The University of the District of Columbia, David A. Clarke School of Law, in Washington, D.C. Prior to entering real estate, Bess practiced law as an Assistant State's Attorney in Montgomery County, Maryland, and also worked at Legal Aid as an attorney. Bess is a member of the Florida, Washington, D.C. and Maryland Bar, and worked in New York pro hac vice. She speaks Spanish and has lived in various cities including Washington D.C., Miami, and Seville, Spain. Bess is the mother of two children who are attending school on the Upper East Side . In spare time she enjoys family and friends, music, reading, knitting, weekends in Rhinebeck, N.Y., and regular meetings with her Mahjongg group. She is an active member of the Real Estate Board of New York and an advocate of the Kalief Browder Foundation.
Brown Harris Stevens
The firm's first Chief Executive Officer Bess Freedman is a strong leader, motivator and educator. Formerly Co-President of Brown Harris Stevens, and a Senior Managing Director of the Corcoran Group's East Side headquarters, Bess brings to her real estate career top professionalism, interpersonal skills and negotiating savvy that are well respected by her industry peers and agents alike. Bess was appointed in 2013 by Brown Harris Stevens President Hall F. Willkie to foster business development. With special attention to the extraordinary Brown Harris Stevens history, culture, narrative and brand, Bess now leads a cohesive working environment that invites mutual inspiration and sharing. She enjoys being a trusted resource and finding creative solutions to every situation, particularly new ways to pitch and market listings, to coach agents through difficult negotiations, choosing excellence. Prior to her promotion to Senior Managing Director at Corcoran, as an agent Bess attained great success at their Carnegie Hill office. Bess achieved repeated membership in their Multi-Million-Dollar Club thanks to her exemplary customer service, knowledge of the market and results. Originally from upstate New York, Bess earned her undergraduate degree from Ithaca College and her law degree from The University of the District of Columbia, David A. Clarke School of Law, in Washington, D.C. Prior to entering real estate, Bess practiced law as an Assistant State's Attorney in Montgomery County, Maryland, and also worked at Legal Aid as an attorney. Bess is a member of the Florida, Washington, D.C. and Maryland Bar, and worked in New York pro hac vice. She speaks Spanish and has lived in various cities including Washington D.C., Miami, and Seville, Spain. Bess is the mother of two children who are attending school on the Upper East Side . In spare time she enjoys family and friends, music, reading, knitting, weekends in Rhinebeck, N.Y., and regular meetings with her Mahjongg group. She is an active member of the Real Estate Board of New York and an advocate of the Kalief Browder Foundation.
Howard M. Lorber, Executive Chairman
Douglas Elliman Realty
Howard M. Lorber is the Executive Chairman of Douglas Elliman, one of the nation’s oldest and largest real estate brokerage firms with approximately $28.1 billion in annual sales volume and approximately 7,200 affiliated real estate agents. Mr. Lorber became Chairman of Douglas Elliman in 2003 and has since achieved record sales year over year. These record results are the product of Mr. Lorber’s transformational leadership and business acumen; and, under his direction, Douglas Elliman continues to display unprecedented economic might and influence in the industry. Mr. Lorber plays an extremely active role in the company and prides himself on his ability to attract and retain the most talented sales personnel. In addition, Mr. Lorber is the President and Chief Executive Officer of Vector Group Ltd. and its wholly owned subsidiary, New Valley LLC, the parent company of Douglas Elliman. Mr. Lorber has actively managed Vector Group’s and New Valley’s diversified interests since 1994, including its approximate $175 million of investments in real estate ventures that own approximately $6 billion of assets. In addition to his role at Vector Group, Mr. Lorber serves as Executive Chairman of Nathan’s Famous Inc., Vice Chairman of Ladenburg Thalmann Financial Services Inc. and a director of Clipper Realty Inc. In 2017, Mr. Lorber received a Presidential appointment to serve as Chairman of the United States Holocaust Memorial Museum. He also serves on the board of the 92nd Street Y, on the board of the Garden of Dreams Foundation, as Chairman of Southampton Hospital Foundation, and as Co-Chairman of the Silver Shield Foundation—a non-profit organization that provides financial assistance towards the educational costs of children of police officers and firefighters killed in the line of duty. Mr. Lorber holds a Bachelor of Arts degree, a Master of Science degree in Taxation and an Honorary Doctorate from Long Island University, where he is also a trustee. Elizabeth Ann Stribling-Kivlan, President of Stribling & Associates Elizabeth Ann Stribling-Kivlan is the President of Stribling & Associates, a family-run business and New York City’s premiere boutique residential brokerage firm specializing in the sales and marketing of exceptional resale properties and new developments. Elizabeth Ann manages the firm’s day-to-day operations, including more than 300 agents, and leads Stribling’s business expansion and development initiatives, from implementing new technologies and market data programs to global outreach and referral partnerships with affiliate firms in diverse national and international markets. Her expertise in both real estate and leadership has been featured in several local, national, and international publications including Forbes, the Huffington Post, the New York Times, Mansion Global, and US News & World Report. Prior to her role as President, Elizabeth Ann was an Executive Vice President and Director of Marketing and Business Development. She joined Stribling & Associates in 2006 after working in San Francisco with a top producer at Pacific Union GMAC. She was born and raised in NYC.
Douglas Elliman Realty
Howard M. Lorber is the Executive Chairman of Douglas Elliman, one of the nation’s oldest and largest real estate brokerage firms with approximately $28.1 billion in annual sales volume and approximately 7,200 affiliated real estate agents. Mr. Lorber became Chairman of Douglas Elliman in 2003 and has since achieved record sales year over year. These record results are the product of Mr. Lorber’s transformational leadership and business acumen; and, under his direction, Douglas Elliman continues to display unprecedented economic might and influence in the industry. Mr. Lorber plays an extremely active role in the company and prides himself on his ability to attract and retain the most talented sales personnel. In addition, Mr. Lorber is the President and Chief Executive Officer of Vector Group Ltd. and its wholly owned subsidiary, New Valley LLC, the parent company of Douglas Elliman. Mr. Lorber has actively managed Vector Group’s and New Valley’s diversified interests since 1994, including its approximate $175 million of investments in real estate ventures that own approximately $6 billion of assets. In addition to his role at Vector Group, Mr. Lorber serves as Executive Chairman of Nathan’s Famous Inc., Vice Chairman of Ladenburg Thalmann Financial Services Inc. and a director of Clipper Realty Inc. In 2017, Mr. Lorber received a Presidential appointment to serve as Chairman of the United States Holocaust Memorial Museum. He also serves on the board of the 92nd Street Y, on the board of the Garden of Dreams Foundation, as Chairman of Southampton Hospital Foundation, and as Co-Chairman of the Silver Shield Foundation—a non-profit organization that provides financial assistance towards the educational costs of children of police officers and firefighters killed in the line of duty. Mr. Lorber holds a Bachelor of Arts degree, a Master of Science degree in Taxation and an Honorary Doctorate from Long Island University, where he is also a trustee. Elizabeth Ann Stribling-Kivlan, President of Stribling & Associates Elizabeth Ann Stribling-Kivlan is the President of Stribling & Associates, a family-run business and New York City’s premiere boutique residential brokerage firm specializing in the sales and marketing of exceptional resale properties and new developments. Elizabeth Ann manages the firm’s day-to-day operations, including more than 300 agents, and leads Stribling’s business expansion and development initiatives, from implementing new technologies and market data programs to global outreach and referral partnerships with affiliate firms in diverse national and international markets. Her expertise in both real estate and leadership has been featured in several local, national, and international publications including Forbes, the Huffington Post, the New York Times, Mansion Global, and US News & World Report. Prior to her role as President, Elizabeth Ann was an Executive Vice President and Director of Marketing and Business Development. She joined Stribling & Associates in 2006 after working in San Francisco with a top producer at Pacific Union GMAC. She was born and raised in NYC.
Clelia W. Peters, President
Warburg Realty Partnership
Clelia Warburg Peters joined Warburg Realty in 2014 and currently serves as President of the firm, bringing experience in strategic business development, cutting edge technology, and investing to her role. Clelia works closely with her father, CEO Frederick Warburg Peters, in managing and growing one of New York's oldest and most respected real estate brokerages. In 2015 Clelia co-founded MetaProp, a PropTech accelerator that has evolved into a $40 million seed stage venture fund focused exclusively on real estate technology. MetaProp has collectively invested in 50+ companies across the full real estate value chain which have raised over $2 billion and employ more than 1,500 people internationally. As one of the few female leaders in the PropTech space, Clelia is passionate about inclusion and believes strongly in the power of women to shift paradigms of leadership and success in the 21st century. Prior to joining Warburg, Clelia worked in partnership with noted business leader Sallie Krawcheck on a technology enabled business concept focused on work opportunities for women and was a Management Consultant with the Boston Consulting Group. Clelia is a member of the NY Metro chapter of YPO (Young Presidents Organization), and of C200, the preeminent global organization for women business leaders. She is co-chair of REBNY'S RLS Board of Directors. Clelia holds an MBA from Columbia Business School and a BA from Yale University.
Warburg Realty Partnership
Clelia Warburg Peters joined Warburg Realty in 2014 and currently serves as President of the firm, bringing experience in strategic business development, cutting edge technology, and investing to her role. Clelia works closely with her father, CEO Frederick Warburg Peters, in managing and growing one of New York's oldest and most respected real estate brokerages. In 2015 Clelia co-founded MetaProp, a PropTech accelerator that has evolved into a $40 million seed stage venture fund focused exclusively on real estate technology. MetaProp has collectively invested in 50+ companies across the full real estate value chain which have raised over $2 billion and employ more than 1,500 people internationally. As one of the few female leaders in the PropTech space, Clelia is passionate about inclusion and believes strongly in the power of women to shift paradigms of leadership and success in the 21st century. Prior to joining Warburg, Clelia worked in partnership with noted business leader Sallie Krawcheck on a technology enabled business concept focused on work opportunities for women and was a Management Consultant with the Boston Consulting Group. Clelia is a member of the NY Metro chapter of YPO (Young Presidents Organization), and of C200, the preeminent global organization for women business leaders. She is co-chair of REBNY'S RLS Board of Directors. Clelia holds an MBA from Columbia Business School and a BA from Yale University.
Robert Reffkin, Founder & CEO
Compass
Robert Reffkin is an entrepreneur on a mission to help everyone find their place in the world. He was inspired to enter the world of real estate by his mother, Ruth, a longtime agent who now proudly works at Compass. After completing Columbia University in less than 3 years, Robert worked at McKinsey, Goldman Sachs, and as a Fellow in the White House before returning to Columbia for his MBA. He ran 50 marathons in 50 states to raise $1 million dollars for charities — including for New York Needs You, the non-profit he founded to serve young people living below the poverty line who are the first in their families to go to college. Robert lives in Tribeca with his wife Benis and their three children.
Compass
Robert Reffkin is an entrepreneur on a mission to help everyone find their place in the world. He was inspired to enter the world of real estate by his mother, Ruth, a longtime agent who now proudly works at Compass. After completing Columbia University in less than 3 years, Robert worked at McKinsey, Goldman Sachs, and as a Fellow in the White House before returning to Columbia for his MBA. He ran 50 marathons in 50 states to raise $1 million dollars for charities — including for New York Needs You, the non-profit he founded to serve young people living below the poverty line who are the first in their families to go to college. Robert lives in Tribeca with his wife Benis and their three children.
Elizabeth Ann Stribling-Kivlan, President
Stribling & Associates
Elizabeth Ann Stribling-Kivlan is the President of Stribling & Associates, a family-run business and New York City’s premiere boutique residential brokerage firm specializing in the sales and marketing of exceptional resale properties and new developments. Elizabeth Ann manages the firm’s day-to-day operations, including more than 300 agents, and leads Stribling’s business expansion and development initiatives, from implementing new technologies and market data programs to global outreach and referral partnerships with affiliate firms in diverse national and international markets. Her expertise in both real estate and leadership has been featured in several local, national, and international publications including Forbes, the Huffington Post, the New York Times, Mansion Global, and US News & World Report. Prior to her role as President, Elizabeth Ann was an Executive Vice President and Director of Marketing and Business Development. She joined Stribling & Associates in 2006 after working in San Francisco with a top producer at Pacific Union GMAC. She was born and raised in NYC.
Stribling & Associates
Elizabeth Ann Stribling-Kivlan is the President of Stribling & Associates, a family-run business and New York City’s premiere boutique residential brokerage firm specializing in the sales and marketing of exceptional resale properties and new developments. Elizabeth Ann manages the firm’s day-to-day operations, including more than 300 agents, and leads Stribling’s business expansion and development initiatives, from implementing new technologies and market data programs to global outreach and referral partnerships with affiliate firms in diverse national and international markets. Her expertise in both real estate and leadership has been featured in several local, national, and international publications including Forbes, the Huffington Post, the New York Times, Mansion Global, and US News & World Report. Prior to her role as President, Elizabeth Ann was an Executive Vice President and Director of Marketing and Business Development. She joined Stribling & Associates in 2006 after working in San Francisco with a top producer at Pacific Union GMAC. She was born and raised in NYC.
The Moderator:
Candace Taylor, reporter
The Wall Street Journal
Candace Taylor is a reporter covering residential real estate for the Wall Street Journal.
The Wall Street Journal
Candace Taylor is a reporter covering residential real estate for the Wall Street Journal.