Archives

Non-profit

Why non-profit?
"Since completing my building project in NYC and my masters degree in real estate, I've really wanted to give back to the community.  I've become more involved in non-profit arts, environmental education, and spiritual growth:  Besides promoting arts, I am deputy director of a non-profit organization that aims to increase awareness and appreciation of natural environments through artistic expression.  My varied interests led me to start an interfaith tolerance network and an active women's social group.  I am blessed to be a sponsor for children abroad, and a baptismal sponsor and volunteer at local churches."

What about real estate development?
"There are a lot of fascinating opportunities right now, and somehow shopping for real estate has always been more fun to me than say, shopping for shoes!  As I find the right fit, I'm taking a more passive role - in real estate investing."

Any other for-profit ventures?
"I love family, so I've been finding ways to add value to our family businesses. Applying my entrepreneurial energy and creative efforts to support people I love is very meaningful to me."

Study

So now that you're done with your building project, what are you going to do?
"I'm studying for my Master of Science degree in real estate at New York University, and looking for my next project!" 

What do you like about the program at the NYU Real Estate Institute? 
"It's practical, convenient, and flexible.  My real estate and construction law professor brought in truly apropos cases that helped me gain better insight into the industry, our family construction business, and my development project.  Now I'm taking Construction Materials and Technology as an elective...  Very applicable." 

Work

Tell me about your building project. 
"It's awesome!  Glass facade, spacious duplex lofts, across from the river, huge balconies with solar technology, and luxury amenities.  I'm psyched!"

What exactly do you do as a real estate developer?
"Whatever needs to be done!  I'm not a builder nor a technician, so what I do is basically help other people do their jobs, and essentially, gently push the process along.  I structure the deal with investors and financers, create agreements and plans with lawyers, work with city officials to obtain permits and approvals, deliver information to architects and engineers, and coordinate with banks and contractors to keep the construction moving."

What do you like about your job?
"I love real estate development because each parcel and its potential is unique.  There's real value in the property and I like the control of the investment that one has as a developer.  It's such an exciting field to be in."

Do you invest in the stock market as well? 
"For comparison, my stock portfolio is also highly undiversified, and I feel the risk there is that much greater or multiplied because I'm betting on other people's bets and company management, rather than on my own...  Nonetheless, my stock portfolio performance has greatly exceeded my expectations, and a few people have suggested I either start a hedge fund or manage their money for them."

How did you get into development?
"While concentrating in finance, my last course was in real estate finance.  I was calling up my parents and asking them about mortgages and they thought, 'Hmm...  maybe Stephanie should join us...'  So fortunately, I bypassed the whole interviewing process!  It's so great to be your own boss."