Commercial Real Estate Panel Discussion

On January 11, 2024, NYLIB hosted a commercial real estate panel discussion moderated by NYLIB President Edward T. Lutz. Panelists included Stijn Van Nieuwerburgh, Professor of Finance and Real Estate at Columbia Business School; Jade Rahmani, Managing Director at KBW; and Scott Singer, Principal and Co-Lead of Avison Young’s Tri-State Debt & Equity Finance team.

FROM LEFT TO RIGHT: Jade Rahmani (Managing Director, KBW), Scott Singer (Principal and Co-Lead, Avison Young Tri-State Debt & Equity Finance team), Stijn Van Nieuwerburgh, (Professor of Finance & Real Estate, Columbia Business School), Edward T. Lutz (President, NYLIB)

A wide-ranging discussion was held that explored valuations in various commercial real estate sectors, trends, the future of the office, and what individuals with CRE portfolio responsibilities should be doing today.

The Moderator

NYLIB President Edward T. Lutz moderated the panel discussion. Ed’s distinguished career in banking has spanned over five decades. He is a former Regional Director for the FDIC’s New York Region, as well as a former community bank President and CEO. Ed has also served as a Director for several community banks. He currently serves as Director and Chairman of the Audit Committee for First Central Savings Bank.

Our Panelists

Stijn Van Nieuwerburgh is the Earle W. Kazis and Benjamin Schore Professor of Real Estate and Professor of Finance at Columbia University’s Graduate School of Business, which he joined in July 2018.

Professor Van Nieuwerburgh’s research lies in the intersection of housing, asset pricing, and macroeconomics. He has also served as an advisor to the Norwegian Minister of Finance, and has been a visiting scholar at the Central Bank of Belgium, the New York and Minneapolis Federal Reserve Banks, the Swedish House of Finance, the International Center for Housing Risk, and has contributed to the World Economic Forum project on real estate price dynamics.

Jade Rahmani joined KBW in 2007. As a Managing Director, Jade covers the commercial real estate finance sector. Previously, he was an Equity Analyst at Prudential Securities, covering industrial companies including aerospace and defense. Jade was named the #1 Stock Picker in Housing Durables in 2012 and 2015, and #3 in Earnings Estimate Accuracy in 2016 by StarMine.

Earlier in his career, Jade worked at UBS on strategic marketing initiatives and at Sidley Austin on real estate finance transactions. He received a BA in English from the University of Michigan, Ann Arbor and an MBA in Finance and Accounting from New York University's Leonard N. Stern School of Business.

Scott A. Singer is Principal and Co-Lead of Avison Young’s Tri-State Debt & Equity Finance team and a member of Avison Young's U.S. Capital Markets Executive Committee. Prior to joining Avison Young, Scott was President of The Singer & Bassuk Organization. He has arranged more than $10 billion of construction and permanent debt and equity financing on behalf of highly regarded New York City-based real estate family offices, developers, and institutional owners.

Some of Scott’s major NYC projects include The Crown Building at 730 Fifth Avenue, multiple assets in the Brooklyn Navy Yard, One Seaport Plaza (three times), MetLife Plaza in Long Island City, The Mark Hotel, 110 East 59th Street, 1700 Broadway (twice), 75 Wall Street (twice), and 636 11th Avenue (twice).

The Audience

Demetris Giannoulias, CEO of Spring Bank, in attendance at the January 2024 COMMERCIAL Real Estate Event

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Memorable Moments

Please enjoy more memorable moments from our evening here. We encourage you to download your favorite moments and share them on LinkedIn. Don’t forget to tag the New York League of Independent Bankers (NYLIB)!