Darcy Stacom Starts Boutique Advisory Firm Amidst Turmoil in Commercial Real Estate

Darcy Stacom, renowned for her record-breaking sales of Manhattan skyscrapers, is leaving brokerage firm CBRE after 22 years to start her own boutique advisory firm, Stacom CRE. The move comes at a time when the commercial real estate market is experiencing significant upheaval. Stacom recognizes the transition happening globally and sees it as an opportune moment for a nimble advisory firm to guide clients through the challenges they face in this new reality.

Stacom’s departure from CBRE will see her longtime partner, William Shanahan, remaining at the firm to help property owners in difficult situations secure fresh capital. Doug Middleton will continue to run the investment property unit.

The New York City office market, the largest in the world, is currently showing signs of distress and dislocation. Remote working has led to record-high vacancy rates, while rising interest rates have negatively impacted developers attempting to refinance loans. A staggering $117 billion in commercial mortgages tied to US offices are set to mature this year, posing significant challenges to property owners.

Despite the market turbulence, investors are actively seeking out distressed opportunities. Prices for older office spaces have dropped as much as 50% from their recent peaks, according to industry experts. CBRE’s stock has also taken a hit, down 23% since the start of 2022.

The commercial real estate industry is experiencing a personnel shake-up in the face of these challenges. Just recently, Marty Burger, the longtime chief executive of Silverstein Properties, which developed the World Trade Center, parted ways with the company. These changes reflect the need for adaptation and innovation in a highly competitive and ever-evolving market.

Darcy Stacom, with her extensive experience and expertise, is primed to navigate this shifting landscape. Her new firm, Stacom CRE, will provide clients with guidance on restructuring, repositioning, and rethinking their properties to adapt to the changing market dynamics. Moreover, Stacom’s departure from CBRE will allow her to focus solely on serving her clients without the need to compete for market share.

As the industry continues to face uncertainty, Stacom’s decision to create her own boutique advisory firm demonstrates both her confidence in her abilities and her commitment to providing strategic guidance in an evolving real estate landscape.

FAQ Section:

1. Who is Darcy Stacom?
Darcy Stacom is a renowned real estate broker known for her record-breaking sales of Manhattan skyscrapers. She is leaving brokerage firm CBRE after 22 years to start her own boutique advisory firm called Stacom CRE.

2. Why is Darcy Stacom leaving CBRE?
Darcy Stacom is leaving CBRE to start her own firm due to the significant upheaval in the commercial real estate market. She sees this as an opportune moment for a nimble advisory firm to guide clients through the challenges they face in the current market reality.

3. What will happen to Darcy Stacom’s longtime partner at CBRE?
Darcy Stacom’s longtime partner, William Shanahan, will remain at CBRE to help property owners in difficult situations secure fresh capital.

4. Who will oversee the investment property unit at CBRE following Darcy Stacom’s departure?
Doug Middleton will continue to run the investment property unit at CBRE.

5. What challenges does the New York City office market currently face?
The New York City office market, the largest in the world, is experiencing distress and dislocation. Remote working has led to record-high vacancy rates, and rising interest rates negatively impact developers attempting to refinance loans. Additionally, $117 billion in commercial mortgages tied to US offices are set to mature this year, posing significant challenges to property owners.

6. What opportunities are investors seeking in the commercial real estate market?
Despite the market turbulence, investors are actively seeking out distressed opportunities. Prices for older office spaces have dropped as much as 50% from recent peaks.

7. Why is Darcy Stacom’s departure significant in the industry?
Darcy Stacom’s departure from CBRE exemplifies the personnel shake-up occurring in the commercial real estate industry. These changes reflect the need for adaptation and innovation in a highly competitive and ever-evolving market.

8. What services will Stacom CRE provide?
Stacom CRE, Darcy Stacom’s new firm, will provide clients with guidance on restructuring, repositioning, and rethinking their properties to adapt to the changing market dynamics.

9. How will Darcy Stacom’s departure from CBRE benefit her clients?
Darcy Stacom’s departure from CBRE will allow her to focus solely on serving her clients without the need to compete for market share. This will enable her to provide dedicated and strategic guidance in the evolving real estate landscape.

Definitions:

– Boutique advisory firm: A small, specialized advisory firm that offers personalized services to clients, often in a specific niche or industry.
– Commercial real estate: Property used for commercial purposes, such as office buildings, retail spaces, and industrial properties.
– Vacancy rates: The percentage of unoccupied rental units or commercial spaces in a specific area.
– Distressed opportunities: Real estate properties or assets that are in financial distress and can be purchased at a reduced price.
– Refinance loans: The process of replacing an existing loan with a new loan, often to take advantage of better interest rates or terms.
– Maturing commercial mortgages: Commercial mortgages that are reaching their maturity date and require refinancing or repayment.

Suggested related links:
Stacom CRE
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