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Deals & Dealmakers

Newmark continues to expand valuation practice with new upstate office

Newmark Knight Frank (NKF) announced the expansion of its Valuation & Advisory (V&A) practice with the opening of a nine-person Buffalo, New York office, led by executive vice president Scott Allen, MAI.

Scott Allen, a 33-year industry veteran, brings a deep knowledge of valuation and market studies across a range of asset types.

At NKF, he will continue to focus on HUD FHA valuation and market studies while also concentrating on affordable housing/Low Income Housing Tax Credit (LIHTC) and conventional multifamily valuation and advisory work.

David Carlon, senior vice president, and Joseph Sievert, senior appraiser, have a combined 34 years of experience.

They have prepared appraisals for mortgage lenders, corporations, non-profits, tax credit syndicators, private developers/investors, and government entities including Fannie Mae/Freddie Mac, HUD and Rural Development.

The team joins NKF from commercial real estate firm GAR Associates. Included in the team are Senior Research Analysts Brian Smith and Phil Buffone, Research Analyst Eric Broughton and Analyst Erin Schafer, who specialize in data and report processing across asset types.

“We are excited to add Scott, Dave and the team in Buffalo. The practice they have built has become one of the preeminent teams in the HUD Multifamily space. Together with our teams in Denver, Phoenix, Charlotte and Pittsburgh, NKF has assembled a dominant national practice,” said John Busi, MAI, FRICS, President of NKF V&A.

“This new office, combined with this team’s deep understanding of the HUD Multifamily landscape and current market trends, strategically positions us to better serve existing and new clients.”

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