New York real estate powerhouse Brown Harris Stevens has launched a new consulting arm designed to help apartment developers and investors make judgement calls on their projects.
Led by Robin Schneiderman, managing director of Brown Harris Stevens Development Marketing, the new BHS Development Marketing Research & Advisory is formalizing a service the brokerage firm has been providing some of the city’s biggest developers for years.
Now it will provide tailored data to meet every stage of a project, from land acquisition, to financing, market timing and sales.
“Our research has always been a market innovator. We look at poignant and often overlooked data points – like pioneering the inclusion of contract-signed data in reports as well as shadow inventory,” said Stephen Kliegerman, president of Brown Harris Stevens Development Marketing.
“Executives from all levels of the capital stack have taken notice and are asking us for customized project analyses. And, as research and advisory planning becomes ever-more crucial through and coming out of the pandemic, we are excited to expand our offerings in addition to and working in tandem with our core sales and marketing business.”
According to BHS, its research has been part of the success of projects from SJP Properties, Savanna, Simon Baron, Zeckendorf, JDS Development, Carlyle, Morgan Stanley, Vanke, Goldman Sachs, JLL, Cushman & Wakefield, and CBRE.
It was instrumental in the financing of JDS Development’s 9 DeKalb, set to be the tallest building in New York City outside of Manhattan, as well as in the financing of Vandewater in Morningside Heights.
“I have seen first-hand the value of Brown Harris Stevens Development Marketing’s research by working with them on new development projects, so when we needed supportive research for the financing of 9 DeKalb, I knew exactly where to turn,” said Michael Stern, CEO of JDS Development Group.
“The research pulled together and analyzed by BHSDM enabled us to secure the financing to move the project forward.”
Bob Knakal, chairman, New York Office Co-Head, JLL, turned to BHSDM for their outlook on the current state of the condo market and how it will impact current and future pricing of New York City’s land.
And, says BHS, Gemdale decided to hold off on the start of construction for 45 Broad Street as a result of BHSDM’s custom market analysis, while global investor DART expects to move ahead with its pre-development and design plans for the future groundbreaking for a site on the Upper East Side.
“Our research requests at first grew organically, as clients reached out from word-of-mouth or from reading our findings in different proposals, memos, or media,” said Schneiderman. “We are excited to expand and offer these services to the greater investment community.”
