Jacob Frydman Discusses the Role of Technology in Commercial Real Estate Market

According to worldwide management consulting firm McKinsey & Company, virtually every modern industry is experiencing some form of digital disruption. Historically, commercial real estate (CRE) has sustained a culture of cautious strategies and resistance to major change, yet in today’s world new technologies and digitalization are increasingly being embraced as assets by even the most staunch market conservatives. Internationally-renowned investment consultant Jacob Frydman talks about the role new technologies play in reshaping the present and the future of the CRE industry. Despite the growing trend for consumers to shop via ecommerce platforms, retail rent pricing in major cities across the globe remains sky high. In the United States, commercial real estate is estimated to be the country’s largest economic asset with $24.14 billion invested in the first half of 2018 alone. This behemoth industry offers vast opportunities for digitalization and as such, has attracted ecommerce platforms such as Ten-X which aims to fundamentally change the experience of investing in CRE. The company has processed over $20 billion in CRE transactions since its launch in 2009 and works towards simplifying and streamlining the work of brokers worldwide. Ten-X is not alone in the scramble to align with a business niche that generates nearly $1 trillion in revenues annually. Inspired by the success of Airbnb and WeWork, venture investors deployed over $5 billion in 2017 to engineer software and platforms with an aim to revolutionizing the CRE market as we know it.

Jacob Frydman is a leading real estate investor and consultant based in New York City. He graduated from Boston University with a B.S. in Finance and a J.D from Case Western Reserve University School of Law. Mr. Frydman is a frequent guest speaker at the New York Law School and at Columbia University where he lectures on real estate and finance. He has gained international recognition through his successful investment portfolio of property development projects implemented over the last 30 years and valued at over $2 billion USD. He is also a dedicated philanthropist and generous contributor to various charitable organizations. Over the years he has been an avid supporter of the National Committee for Furtherance of Jewish Education, Chabad of Duchess Country and the Brem Foundation of Washington, DC.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman – Committed to Supporting the Rhinebeck Jewish Center

Renowned real estate and private equity investor, Jacob Frydman is a devoted philanthropist and actively participates in programs and activities of New York’s Chabad of Dutchess County and The Rhinebeck Jewish Center as he takes a firm stance in pledging his time and personal funds to both organizations. Following a life-long career in real estate development and acquisition, a passion which began in high school when he made his first real estate investment, Frydman has been recently giving more of his energy to supporting local charitable establishments, following his retirement as CEO of a public Real Estate Investment Trust. Through the compassionate and proactive philosophy of the Rhinebeck Jewish Center, Frydman finds a powerful way to help those in need and to uplift the community spirit.

A native New Yorker, Jacob Frydman received a Bachelor of Science degree in Finance from Boston University and his Juris Doctor degree from Case Western Reserve University School of Law. During his 30-year career in the real estate industry, he acquired over five million square feet of property on the east coast of the United States and took part in procurement and development transactions valued at over $2 billion. His notable real estate projects include Two Dag Hammarskjöld Plaza in midtown Manhattan, which he re-developed, together with his long-time partner, Mitch Rutter, into a commercial condominium solely for foreign governments as their missions to the UN.  They also redeveloped the Aetna Building in lower Manhattan, and the DHL center in midtown Manhattan. In 1998 Frydman purchased the NBC New York television studios from General Electric, and from 1998 through 2010 he produced the log-running TV soap opera, “As The World Turns”, together with Proctor & Gamble. Having retired from his role as the CEO of a public Real Estate Investment Trust, Jacob Frydman continues to share his expertise in a consultancy service to developers and other businessmen within the industry, where he advises on highly complex special situations where he can enhance a property’s value, undertaking it alone or at times with partners. A long-standing philanthropist, Frydman is also a firm supporter of the Washington DC’s Brem Foundation, helping women in struggling communities at risk of developing breast cancer, and has served as a member of the Board of Directors of the Bardavon Opera House, home of the Hudson Valley Philharmonic.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman – Reviews NYC’s Zoning for Mixed-Use Real Estate

Jacob Frydman notes the special interest and close attention paid by the New York zoning officials to the bullish mixed-use real estate climate. Melissa Mark-Viverito, Speaker of the NYC Council, has recently addressed the growing demand. “We are seeing remarkable interest from a range of companies to build new buildings and retrofit existing buildings in neighborhoods across the City… We need to create the conditions to support this kind of investment,” she urged. In a November, 2014 report, “Engines of Opportunity: Reinvigorating New York City’s Manufacturing Zones for the 21st Century”, Mark-Viverito recommended that zoning officials establish new vertical MX zoning designations. And this past April, the New York City Council approved a modified version of a major planning initiative proposed by Mayor de Blasio that includes mixed residential and commercial use development in East New York and Ocean Hill neighborhoods. The real estate data research firm, AxioMetrics, reports that the Kings County submarket in Brooklyn, NY alone has 23 mixed-use developments in the pipeline for 2013-2021.

Jacob Frydman is a New York-based property expert and consultant who sources and identifies value added investment opportunities. For over 30 years, he has executed and participated in highly complex real estate transactions valued at over $2 billion and spanning over 5 million square feet. A frequent guest on Fox News, Bloomberg TV, CNBC, and other television news outlets, Frydman has also lectured on real estate finance at Columbia University and in the Master’s Lecturer series sponsored by New York Law School. An avid philanthropist, Jacob Frydman devotes much of his time and capital to various charitable organizations, including the National Committee for Furtherance of Jewish Education (NCFJE), Chabad of Dutchess County, and the Brem Foundation of Washington, DC.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman

Jacob Frydman – On the Evolution of New High Performance Office Space

Due to the mercurial rise of co-working companies like WeWork and large corporations increasingly turning to freelance work, office developers have recently been forced to adapt in new and innovative ways. New York real estate investor Jacob Frydman recently addressed these unprecedented changes in commercial real estate, including the deviation from traditional workspaces to the development of high performance office spaces that feature flexible leases and impressive amenities.

 

Jacob Frydman has over 30 years of experience in structuring, financing and executing highly complex real estate transactions. Notable achievements of his career include Two Dag Hammarskjöld Plaza, an office condominium tower in midtown Manhattan used by foreign governments for their missions to the United Nations, and redeveloping the Aetna Building in lower Manhattan’s financial district.  An avid philanthropist, he has been a firm supporter of Chabad of Dutchess County, the Brem Foundation to Defeat Breast Cancer, and other organizations.  He generously dedicates much of his time and capital to programs aimed at helping people in struggling communities, and is proud to have recently joined the National Committee for Furtherance of Jewish Education (NCFJE) in support of its Released Time program of Greater New York.

Jacob Frydman – CEO & Chairman – United Realty Advisors, LP – LinkedIn: https://www.linkedin.com/in/jacobfrydman

Jacob Frydman – Huffington Post: http://www.huffingtonpost.com/author/jacob-frydman