BHS breaks from norm with advisory arm on development

New division uncouples consulting from sales and marketing agreements

TRD New York /
Oct.October 06, 2020 07:30 AM
From left: Robin Schneiderman and Stephen Kliegerman, 9 DeKalb Avenue and 45 Broad Street

From left: Robin Schneiderman and Stephen Kliegerman, 9 DeKalb Avenue and 45 Broad Street

Brown Harris Stevens Development Marketing is debuting a line of business aimed at lenders, commercial brokers and equity investors sussing out residential projects in New York City.

Led by Robin Schneiderman and Stephen Kliegerman, the new research and advisory arm will provide data and consulting for residential condo and multifamily rental projects.

Formalizing the advisory arm divorces the firm’s consulting from exclusive sales and marketing agreements, breaking from the industry status quo for new development divisions.

“It’s what I call the Covid project,” said Schneiderman. “It’s something that nobody has ever formalized and I think, especially in the times we’re in now and headed forward, everybody is in need of data.”

The consultancy will help developers land financing, plan uses for development sites and even help projects time the market, according to Schneiderman.

Its services will include preparing investment proposals, auditing marketing plans, custom analytics for projects, and third-party architectural reviews. It is work Schneiderman has been doing on an ad hoc basis for several clients, such as helping JDS Development land a $240 million mezzanine loan from Silverstein Capital Partners for 9 DeKalb Avenue, and advising Madison Equities and Gemdale Properties to hold off on starting construction at 45 Broad Street.

“I often play the middleman between the sponsor and their equity,” said Schneiderman, describing the role the consultancy will fill. “I’m on the commercial side of the residential business.”

Schneiderman said this has been in the works since March and April, when the city was in lockdown. He said the division now has about a dozen clients.

Kliegerman said the new division did not stem from revenue concerns, the drop in residential sales volume, or BHS and Halstead’s merger. He said it’s “a response to the marketplace” in terms of the degree of uncertainty and need the firm perceives for this kind of service.






Related Articles

arrow_forward_ios
(Getty, iStock)

Mortgage applications to buy homes decline for fourth straight week

Mortgage applications to buy homes decline for fourth straight week
Gov. Andrew Cuomo (Getty, iStock)

Commercial eviction and foreclosure ban extended until January

Commercial eviction and foreclosure ban extended until January
The Manhattan office market’s overall vacancy rate rose to a 24-year high of 13.3% in the third quarter (iStock)

Cushman & Wakefield paints bleak picture for Manhattan office market

Cushman & Wakefield paints bleak picture for Manhattan office market
Public Advocate Jumaane Williams (Getty; iStock)

“It’s compliance warfare”: Industry slams landlord accountability bills

“It’s compliance warfare”: Industry slams landlord accountability bills
Stephen Ross and Time Warner Center (Getty)

Stephen Ross slashes price of Time Warner Center penthouse

Stephen Ross slashes price of Time Warner Center penthouse
Pretium CEO Don Mullen and Ares Management CEO Michael Arougheti (Photos via Pretium; Getty)

Pretium, Ares agree to buy Front Yard Residential

Pretium, Ares agree to buy Front Yard Residential
Brooklyn’s home sales dipped in Q3, but the median home price was above $900K (iStock)

Brooklyn home sales drop by 57%, but prices rise

Brooklyn home sales drop by 57%, but prices rise
Welcome co-founder Alec Hartman and rendering of a model home (Welcome)

Design, click, build: Startup sells new homes online

Design, click, build: Startup sells new homes online
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...