Real Estate and Development Power Players

As a Populous senior principal, Jonathan is a member of the company’s Board of Directors and leader of its New York office. Serving as lead for projects across multiple continents, Jonathan has met challenges inherent in a wide range of project types, including sports/entertainment, commercial, residential, academic and mixed-use complexes. He has collaborated with innovators in the field of software, technology and manufacturing. Jonathan conceptualizes and integrates highly innovative design solutions with technologically advanced construction solutions.

What is your favorite landmark in New York State?
My favorite place in New York is Central Park. It is not often thought of as a ‘landmark,’ per se, but throughout its history, it has breathed life into the fabric of New York City, and has consistently drawn people together.

What has been your favorite development project and why?
One of my most meaningful projects was the Barclays Center. The scope, scale and complexity of the project drew me in immediately. Upon opening, I understood for the first time what it meant for a building to excite and energize a large crowd on the global stage, and I’ve taken that memory and feeling into all of my work ever since.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
The streets are alive again. The noise is on its way back, the energy of the city is there, but the office environment throughout the city is still on the mend. I believe we have a responsibility to our cities, as much as we do to ourselves, to breathe energy back into them and refill our office environments in new and innovative ways. It has been meaningful for our staff to be able to gather again, and we have the privilege of helping our clients reimagine what it means to bring people together through the design and experience of their spaces.

How did you become interested in architecture, real estate, or construction?
It starts with my father. As he was an architect, designer and artist, I not only grew up in a creative environment, but I had more Lego than anyone else I knew – and the rest was history!

What is your favorite place you’ve ever lived?
Other than my undergraduate schooling, I’ve only lived in New York. Even if I’d never lived here, I’d be drawn to it and everything it offers. I thrive off of its energy and the intensity it brings to everyday life, and I simply cannot imagine living anywhere else.

Nick Derasmo, Senior Vice President and Co-Lead of Real Estate and Property Innovation

Elizabeth Latino, Senior Vice President and Co-Lead of Real Estate and Property Innovation

Elizabeth Latino and Nick Derasmo are senior vice presidents and co-leads of Marino PR’s Real Estate and Property Innovation practice, which includes a roster of clients from commercial real estate owners, developers and brokerages including Jamestown, The Moinian Group, LCOR, BRP Companies, Douglaston Development, BEB Capital, to construction companies like Skanska, and PropTech and digital experience companies such as VTS, Dealpath, Doorsey, WiredScore, and View Labs. Marino’s Real Estate and Property Innovation practice has helped activate properties and generate buzz to drive leasing and sales campaigns, create and implement powerful and well-targeted messaging initiatives, position industry executives as insightful and in-demand thought leaders, and launch some of the most groundbreaking new technology companies into the space.

CHIP represents more than 4,000 members who provide nearly 400,000 units of rent-stabilized housing in New York City. In his role as executive director, Jay Martin is the voice for hard-working property owners who have built strong communities all over New York City. Before joining CHIP, Martin spent 12 years in the New York State Senate serving as the chief of staff to David Carlucci and the director of operations for the Senate Independent Democratic Conference.

What is your favorite landmark in New York State?
Empire State Building.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
Real estate in New York is in a very precarious position. Property owners have lost a lot of money in the past few years. New York City relies on the tax revenue from property owners to fund its social safety net. We suspect it will be at least another 2-3 years before the market gets fully back to where it was before the pandemic, but I am optimistic about the recovery.

How did you become interested in architecture, real estate, or construction?
Housing is a vital part of any healthy city. At CHIP we advocate for better housing, more housing, and for the government to help renters afford housing. I feel we make a real impact on people’s lives by working with elected officials and government agencies to try and achieve these goals.

What is your favorite place you’ve ever lived?
I love New York City, but I spent six months working in San Diego in 2004 on a campaign and I can’t shake wanting to get back.

Roberta M. McGowan is the executive director of the Building Owners and Managers Association of Greater New York. She joined the organization as director of membership in 1989, and became executive director in 1992. In her role, she oversees day-to-day operations of the association, as well as its events and projects. Prior to joining BOMA, McGowan had a side business making chocolates for events, which was how she became acquainted with the former executive director, Julie Gibouleau.

Jonathan L. Mechanic is a real estate partner and chair of Real Estate Development of Fried Frank. Mechanic first joined the firm in 1978. After leaving the firm briefly for a stint as general counsel and management director of HRO International Ltd., he returned in 1987 to become a partner. In addition to serving as a real estate counselor for many prominent corporations and developers, he has taught the real estate transactions course at Harvard Law School for over a decade, and is a regular lecturer at NYU, the Real Estate Board of New York, and the Practicing Law Institute.

Nadeem Meghji is the Head of Real Estate Americas. Mr. Meghji has played a leadership role in Blackstone’s investment activity in the U.S., including the acquisition of Stuyvesant Town-Peter Cooper Village, Biomed Realty Trust, and Brixmor Property Group. Before joining Blackstone in 2008, Mr. Meghji worked as an associate at the Lionstone Group. Mr. Meghji received a BS in Electrical Engineering from Columbia University, where he graduated summa cum laude. He received a JD from Harvard Law School and an MBA from Harvard Business School. Mr. Meghji serves as a board member for the Lupus Research Alliance and is the co-chair of the annual Rally Against Lupus fundraiser. Mr. Meghji was named a World Economic Forum Young Global Leader in 2018.

What is your favorite landmark in New York State?
My favorite landmark in New York State is right here in New York City – Central Park. I’ve spent a lot of time running through the park and have done a few half marathons that started in Central Park. It’s an amazing part of the city.

What has been your favorite development project and why?
While it’s not a development project in the traditional sense of the word, I would say StuyTown, where Blackstone has had a transformational impact. We have invested $300 million+ in improvements across the property, and resident satisfaction has more than doubled as a result. One aspect of our work there that I’m most proud of is our installation of nearly 10,000 rooftop solar panels, which doubled Manhattan’s solar capacity at the time it was installed.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
If there is one thing we have learned as a firm over the past 30 years, it is, “don’t bet against this city.” At Blackstone, we are long-term believers in New York and are confident that people will always want to live in cities like New York that are hubs for innovation and talent. While not all assets are created equal, we believe high-quality properties will continue to outperform.

How did you become interested in architecture, real estate, or construction?
While in business school, I took a real estate class and fell in love with it. I was excited by how entrepreneurial the work was and the wide array of personalities. At Blackstone, we focus on investing behind trends related to how people live, work and play, which is a fascinating lens to use when buying hard assets.

What is your favorite place you’ve ever lived?
New York City. You can’t find anywhere else that has as much vibrancy and diversity as New York City. I thrive off the city’s energy and its people. As an added bonus, I love my work, and Blackstone is based in Manhattan.

Recognized as one of the most successful entrepreneurs in the nation, Don Peebles is the CEO and founder of The Peebles Corporation, one of the country’s few privately held national real estate investment and development companies. Don engages in practices of Affirmation Development with a multi-billion-dollar portfolio of projects in New York, Boston, Philadelphia, D.C., Charlotte, Miami, San Francisco, and Los Angeles. He is an acclaimed author of two books and a regular guest on CNN, CNBC and FOX, as well as a highly sought-after speaker who has addressed educational, business, and professional audiences across the U.S.

What is your favorite landmark in New York State?
One World Trade Center – Freedom Tower.

What has been your favorite development project and why?
Affirmation Tower has and will forever be my favorite development project because of everything it stands for. The project is slated to be the second tallest tower in NYC and would change the iconic skyline by becoming the first skyscraper built by a majority Black- and woman-led development team. Affirmation Tower is a true declaration of our ideals and it affirms that the American Dream and economic opportunity are accessible to all.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
The pandemic was tough for commercial real estate in New York. Many of the office buildings that were once centers of foot traffic became abandoned. The way people work has forever changed; no longer will people be attached to their desks and need to spend 10-12 hours in an office five days a week. Office space consumption in NYC will continue to decline due to remote working and relocations. As a result, many obsolete office buildings will be converted to alternative uses such as housing.

How did you become interested in architecture, real estate, or construction?
At eight years old, my mother and I moved from D.C. to Detroit to be closer to family. During this time, my mother became a real estate agent and I was inspired by how she was able to change our lives as an entrepreneur. From that point, I knew I wanted to be a transformer. Today, we are working to knock down systemic barriers that impede women and minorities from achieving entrepreneurial success in real estate. I am looking forward to shaping history by developing Affirmation Tower, which is slated to be the most inclusive skyscraper in Manhattan.

What is your favorite place you’ve ever lived?
New York City.

As principal and president of Jamestown LP, Michael Phillips oversees the development and execution of the company’s real estate projects globally. During his tenure, Jamestown has grown its portfolio throughout the U.S. and expanded its investment footprint to South America and Europe. Mr. Phillips is the driving force behind the company’s adaptive reuse projects including Chelsea Market and Industry City in New York City, Ponce City Market in Atlanta, and Ghirardelli Square in San Francisco. Mr. Phillips is nationally recognized for his creative leadership and ability to build unique, iconic urban centers.

Paula Kirby, Managing Director
Paula Kirby is managing director of Plaxall, a third-generation family business, which owns and manages nearly a million square feet of property in Long Island City. Prior to joining Plaxall in 2014, Paula worked in the fashion and luxury goods industry in Europe for over 20 years. A Queens native who grew up in Forest Hills, Paula serves on the Boards of several Queens-based organizations. 

What is your favorite landmark in New York State?
The Adirondack State Park is the largest park in the contiguous U.S. and is unique in that it is a mix of public and private land – and there is no entrance fee! Filled with forests, lakes, and rivers, the Adirondack Park is ‘Forever Wild,” meaning it is constitutionally protected from being sold or leased. I have been fortunate to spend a lot of time in the Adirondacks – and hope more city-dwellers can experience its natural beauty as well. 

What has been your favorite development project and why?
The renovation of Grand Central. I thank Jackie Kennedy Onassis every time I glance at the vaulted ceiling and constellations, the huge chandeliers, and the information booth clock. I would get such a jolt of energy when I stepped off my metro-north train every morning and into the hustle and bustle of Grand Central! Seeing the crowds weaving by each other to get to the subway has made me appreciate the real economic driver of the city – the hard-working people of New York.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
New York and New Yorkers are resilient! We will certainly have to adapt to office life post-pandemic – what will make workspaces exciting enough to entice employees to make the commute? Could mixed-use hubs in the outer-boroughs help decrease travel time (a short walk or bike ride rather than the hour-long train or subway) to and from the office and make coming to work more appealing? Will “the 15-minute city” concept save our City?

How did you become interested in architecture, real estate, or construction?
My grandfather, Louis Pfohl, was an architect, so I was exposed to architecture at a young age. For most of my life, I was more interested in the art and culture of cities than in real estate per se. It was only after I joined our family business, Plaxall, in 2014 and I began to read some of the great books about cities such as The Power Broker, Triumph of the City, Skyscraper Dreams, Image of the City, and Delirious New York that I developed a passion for urban planning and development in NYC.

What is your favorite place you’ve ever lived?
It’s like asking which is my favorite child . . . I love them all! I spent 20 years living in Europe in some of the most beautiful cities – Florence, Milan, Paris, and London. I loved being surrounded by the culture and history of each of those cities, but over the past ten years working in New York City, I have developed a true appreciation for this more modern – and incredibly vibrant – city.

Jordan Hare, Director of Planning
Jordan Hare is the director of planning at Plaxall, a landowner in Long Island City. Jordan’s responsibilities include formulating and evaluating mixed-use development scenarios, generating financial analytics, coordinating local placemaking activities, and managing environmental remediation efforts. Jordan is a proud resident of Jackson Heights, where he lives with his wife and three adorable children. 

What is your favorite landmark in New York State?
The New York State Canal System. Starting with the Erie Canal, the network required strong political leadership and bold vision, particularly in its first decades. The canal network helped kickstart economic development for much of upstate, and in turn helped cement NYC as the heart of the nation’s industrial economy. And in more recent decades it has emerged as a jewel of New York’s massive trail network – an exemplary example of adaptive reuse.

What has been your favorite development project and why?
Outside of NYC: King’s Cross. This transformational public-private partnership recast a major source of urban blight in North London into one of the most compelling large-scale mixed-use developments of this generation. 

In NYC: The renovation of LaGuardia Airport. Rarely has a structure so rapidly gone from among the worst in its class to among the best. I just traveled through the airport and – perhaps for the first time – decisively felt that the quality and experience of the NYC departure far exceeded that of the (domestic) destination.

What is the current state of commercial real estate in New York? What impact has the pandemic had?
I think we are all coming to grips with a set of unprecedented challenges facing commercial real estate. I am optimistic about the future of LIC in this changed world – as it is positioned to offer great amenities and ample space to prospective workers and firms who are seeking to locate commercial spaces closer to where people live. 

How did you become interested in architecture, real estate, or construction?
Ever since I was young I’ve been fascinated by the kinetic energy of cities. Since I moved to NYC in 1997, I’ve been enthralled by its vibrancy and unpredictability. In so many ways, the character of New York – as with all other great cities – is both expressed by and embodied in its buildings and public spaces. I’ve been truly fortunate to find a career in real estate that enables me to continually think about what makes cities great, and how new projects can serve the greater good in the longer term. 

What is your favorite place you’ve ever lived?
I lived in Hong Kong from 2006 – 2009, an experience that galvanized my passion for urban life. I’ve yet to encounter another city that can so seamlessly integrate high density, near-instant access to nature, and world-class transportation.