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Residential Managers Honored at REBNY’s 17th Annual Leadership Awards Event
February 26, 2015
Noreen P. McKenna of Brown Harris Stevens Honored as
Residential Management Executive of the Year
Rose Associates, Inc. Receives Community Service Award
Robert Knakal of Cushman & Wakefield Delivers Keynote Address
The Real Estate Board of New York (REBNY) turned the spotlight on New York City’s top residential managers at the 17th Annual Residential Management Leadership Awards Breakfast yesterday at The Roosevelt Hotel. More than 450 attendees turned out to honor Noreen P. McKenna, Managing Director/Senior Vice President at Brown Harris Stevens, LLC, who received the Residential Management Executive of the Year Award and Rose Associates, Inc., a residential development and management firm, which received the Residential Management Community Service Award.
“Residential managers play an integral role in our industry. From the smallest to the largest properties, their daily contributions are vital to our City’s operations,” said REBNY President Steven Spinola. “Noreen McKenna and Rose Associates have gone above and beyond to fulfill their duties and give back to the community. We applaud and thank them for their relentless dedication and service.”
Robert A. Knakal, Chairman of New York Investment Sales at Cushman & Wakefield, delivered a thought-proving keynote address exploring implications that signify whether the New York City real estate market has hit a peak or if it will continue to progress forward after a tremendous 2014, which he defined as the best year from an investment sales perspective with $55.8 billion from the sale of 5,197 properties and citywide appreciation of 20 percent.
In weighing the downside risks to the upside potential of the market, he compared the market of 2014 to that of 1998 and 1988, periods that had achieved high dollar volumes of sales as a result of a drop in capital gains tax and other externalities, but sustained very different market outcomes soon after.
Knakal predicted that the current market has a better chance of continuing on its positive progression as it did in 1998, than spiraling into a downturn like it did in 1988. He also predicted that citywide values will rise 12 percent in the next year, activity in the CMBS market will increase from $80 billion to approximately $120 to $130 million, and that rates will not increase for the balance of the year.
REBNY’s Residential Management Committee. Back row (L-R): Benjamin Kirschenbaum, FirstService Residential New York, Inc.; James Sheehan, Kalimian Organization; Daniela Lucchetto, Durst Fetner Residential LLC; John McDermott, Ogden CAP Properties, LLC; Michael Wolfe, Midboro Management, Inc.; Albert Mayas, Charles Greenthal Group, Inc. Front row (L-R): Dorothy Vermeer; H.J. Kalikow & Co., LLC; Jay Fingerman, Brown Harris Stevens; Leslie Bogen Winkler, Penmark Realty Corp.; Paul Gottsegen, Halstead Management Company, LLC; Noreen McKenna; Brown Harris Stevens, LLC; Linda C. Gawley, Charles H. Greenthal Management Corp.; Ellen Gribben Bornet, Rose Associates, Inc.; Eva Talel, Stroock & Stroock & Lavan LLP; Donald Levy, formerly of Brown Harris Stevens; Cindy Ramotar, REBNY; Angela Pinsky, REBNY
Noreen P. McKenna, who manages 13 co-op apartment buildings and is responsible for preparing and presenting over $35 million in annual operating budgets for Brown Harris Stevens, was presented with the Residential Management Executive of the Year Award for exemplifying strong leadership and commitment to the industry. She is highly regarded by her colleagues, organized the firm’s green training programs, serves on REBNY’s Residential Management Council, and was the recipient of REBNY’s Community Service Award in 2004.
“I’m very fortunate to work with such a great team of people at Brown Harris Stevens,” said McKenna. “This award isn’t just for me – it’s for all of us at the company.”
Rose Associates was presented with the Residential Management Community Service Award for its RoseCares program, which was established in 2013. Since its inception, Rose employees have donated more than 100 coats, collected more than 400 toys, and provided more than 1,000 meals for the homeless and hungry of New York City. The program has worked with such organization as New York Cares, The Bowery Mission, City Harvest, Food Bank for New York City and the U. S. Marine Corps Reserve Toys for Tots Program. Rose Associates also implemented a Volunteer Time Off policy that provides all employees of the firm a half-day of paid time-off each year for volunteer opportunities.
“We are honored that the early success of RoseCares has been recognized by REBNY,” said Amy Rose, co-president of Rose Associates. “The program is 100 percent employee-driven and with each new initiative, we are seeing buy-in from a larger group of employees. It seems that the spirit of volunteerism and charity is contagious.”
The Residential Management Leadership Breakfast Planning Committee is comprised of Ellen Gribben Bornet of Rose Associates, Inc., Martha M. Goupit of Halstead Property, LLC, Benjamin Kirschenbaum of FirstService Residential New York, Inc., Leslie Bogen Winkler of Penmark Management LLC, and Michael Wolfe of Midboro Management, Inc.