ENTERPRISING WOMEN
REAL ESTATE
ENTERPRISING WOMEN
Outstanding Leaders Receive Honors
CIANJ ’ s toasted its “ Enterprising Women ” for their dedication and strengthen at a reception last month where more than 100 people celebrated these extraordinary leaders from every industry .
Forty-four women were nominated by their peers this year for honors in the annual “ Enterprising Women ” tribute hosted by CIANJ and Hackensack Meridian Health .
The reception featured an award presentation in which “ Platinum ” and “ One to Watch ” winners were announced , along with honorees from each industry category . The Platinum recipients were women who ascended to the top tiers of their professions , while “ One to Watch ” honorees , are at the start of their careers and showed great promise . The selections were made by our panel of judges , who are all members of the CIANJ Board of Directors . They included : Paige Dworak , president and CEO of CareWell Health Medical Center ; Sally Glick , business development advisor for CLA ( CliftonLarsonAllen LLP ) and Kim Vierheilig , president of buildings and facilities at STV .
This year ’ s Platinum honorees were : Lara Abrash , CEO of Audit and Assurance at Deloitte ; Donnalee Corrieri , chief of communications
REAL ESTATE
Interest Rate Hikes Roil Market
Leaders in the commercial and residential real estate market took center stage at a recent CIANJ conference , discussing how the Federal Reserve ’ s rate hikes are reverberating through the industry , complicating deals , and pressuring the market .
CIANJ President Anthony Russo moderated the discussion as Max Custer , a director at JLL Capital Markets , lead off by stressing that “ transaction velocity ” was down as much as 60 percent due to the rate pressure .
Along with Custer , the other panelist included : Stephen Benoit , assistant vice president of leasing and finance at Hartz Mountain Industries , Jeremy Billig , CEO and President of McLaren Engineering Group , Sarah M . Drennan , an executive vice president at Terrie O ’ Connor Realtors and Bill Hanson , SIOR , a former CIANJ chairman and preside of NAI James E . Hanson .
There have been repeated rate hikes this year from the Federal Reserve . The moves are designed to reduce liquidity to the financial markets and tamp down high inflation . At its July meeting the Federal Reserve hiked interest rates and marketing at Bergen New Bridge Medical Center and AnneMarie Sullivan , founder / CEO of Spectrum Works .
In the One to Watch designation , the winners included : Kathleen Patel , CEO of the Factor Group ; Brielle Freda Seminerio , operations manager at Brewster Washers and Bisola A . Taiwo , director of real property at Gibbons Law .
The industry selections by the judges included : Accounting , Tifphani White-King , a national practice leader at Mazars ; Environmental , Rayna Laiosa , senior manager at The Chemours Company and Michele Zolezi , general manager at Pure Soil / Earle Companies ; Healthcare , Dr . Monica Dhingra , director of psychiatric residency , Bergen New Bridge Medical Center ; Higher Education , Bhavna Tailor , executive vice president at Eastwick College and Jennifer D ’ Angelo , senior vice president of healthcare at New Jersey Innovation Institute ; Human Resources , Corinne Collina , human resources manager at Earle Companies ; Infrastructure , Priya Jain , president , Mace North America Ltd .; Law , Rhonda Carnioli , co-chair technology practice at CSG Law and Mary Gabriel , deputy managing partner at McCarter & English ; Manufacturing , Marcia Frieze , CEO of Case
. 25 percentage points , bringing the federal fund rate to a target of 5.25 to 5.5 percent .
The climbing rates have had a chilling effect on homeowners who are now reluctant to sell because their next mortgages will not compare to the low 2 to 3 rates they now enjoy . Drennan said the low inventory impacts affordability and prices out many first-time buyers .
In an illustration of how extraordinary the market has become , Drennan said a recent two-family home that needed “ a ton of work ” sold for $ 500,000 above the asking price . “ Anything that comes on is flying off ,” she said .
Despite reports of prices dropping , she said in her territory , which encompasses Bergen County and parts of New York , they are continuing to skyrocket . “ The median price just last month was $ 600,000 .”
Benoit said the rate pressures are making it more difficult to get loans on office buildings than multi-family or industrial properties . Hanson agreed that deals are becoming more complicated and consequently less attractive . The 15 bidders that might have been vying for a given deal in the past are no longer , he said ,
Medical ; Marketing , Katie Sword , chief marketing officer at NJPAC ; Logistics , Tracy Denora , executive director of NJ Warehousemen and Movers Association ; Non-profits , Jill Johnson , executive director of the Institute for Entrepreneurial Leadership ; and for Real Estate and Development , Abigail Polizois , co-founder Legacy Development Group .
August COMMERCE Magazine celebrated all nominees for the Enterprising Women awards .
adding that the end price may be the same , but the competition narrowed . It ’ s a more challenging environment , he said .
CIANJ regularly brings together experts in real property to discuss the latest issues and trends in the market . For more information are programs is available at cianj . org .
Despite repeated rate hikes , Bergen County housing prices continue to rise .
Photo : Getty Images / iStockphoto / Bet _ Noire
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