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Alan Starkman
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KEEPING OPERATIONS at big commercial properties such as the Lincoln Building and 1359 Broadway humming along smoothly is a complicated business. Many hands are involved, but ultimately there has to be a person who can review all of the information and make the correct decisions.
For these two W&H properties that person is Alan Starkman.
As senior managing director at Newmark & Company Real Estate, Inc., Mr. Starkman is responsible for operations and construction at the two buildings, from seeing that tenants' daily needs are met to supplying the necessary oversight of major renovations. It's a "soup to nuts" job, according to Mr. Starkman.
"I'm the one who goes in and does the due diligence, sees what the needs are, handles the budget," he explains. "I'm responsible for the well-being of the asset."
While he keeps close tabs on the ongoing initiative to create "a tremendous amount" of pre-built office spaces at Lincoln and on the building's continuing capital improvement program, he also spends a lot of time focusing on the $54 million, two-year rehabilitation of 1359 Broadway. (The 22-story structure is located between 36th and 37th Streets in the new Times Square South.)
Mr. Starkman has overseen many gut rehab assignments and building repositionings in his 16 years in the real estate business, so he's not easily fazed. "It's a total renovation that includes a new lobby, windows, roof, elevators, public corridors, bathrooms, infrastructure – new everything," he says. "I don't think there's a stone unturned."
While the work proceeds, Mr. Starkman makes sure the tenants in place are not forgotten. He's helped some relocate to new spaces in the center of the building to make way for scheduled construction work. "We are accommodating their needs as we do this," he says confidently. "It's all carefully worked out."
With his expectation that "a significant portion of the work will be done by the end of the year," Newmark is busy signing up new tenants.
"In particular, we're working with prospects interested in full floors in this 421,000-square-foot building. We are attracting large firms looking for a fully enhanced building in a fantastic location with tremendous light and air," Mr. Starkman says.
Mr. Starkman, 42, has resident building managers, Newmark property managers and construction project managers to lean on, but he also bears the 24/7 burden of making sure things go right. He's enthusiastic about the task, and praises W&H ownership as "excellent, professional people, a pleasure to do business with." And he never forgets the central question to ask of each management assignment: "What am I putting into the deal to make it work for all parties?"
The bigger picture of the real estate market is always in his view. "It's a very interesting time," he says. "Velocity is picking up." Spoken like a man who enjoys the action.
