Can you share a bit about your current role and what a typical day looks like for you?
As a proud UW–Madison business school alumnus (BBA ’99, Real Estate Finance & Accounting), I have been with The Kalikow Group for the past 20 years. Prior to Kalikow, I worked at Angelo Gordon, Goldentree Asset Management, and the Ernst & Young Real Estate group. As Principal and Senior Vice President, I am involved with all aspects of the real estate business.
The Kalikow family was named among New York City’s 10 oldest surviving commercial real estate dynasties, having been in business since 1925. The Kalikow Group is a private real estate company that owns and manages multifamily properties in the NYC area and has developed and invested in multifamily development projects in the Southeastern United States.
No two days are ever the same. Some days I am analyzing, negotiating, and structuring new deals; other days I am seeking financing, problem-solving, or managing existing projects and assets. It’s the unknown that makes every day an exciting challenge.
From your perspective, what is the most exciting opportunity—or area of growth—in commercial real estate today?
The buzzword today is AI (Artificial Intelligence). AI will certainly impact the commercial real estate industry and make research and analysis quicker, easier, and more efficient. However, I don’t believe it will completely take over, as the real estate industry is very relationship-oriented and involves personal emotional intelligence. I see a tremendous opportunity in affordable housing, as this sector is materially underserved. More government intervention, including greater subsidies and financial incentives, is needed to make new development more economically feasible.
What do you find most rewarding about working in the real estate industry?
Making a positive impact on people’s lives is what makes working in the real estate industry rewarding. Everyone’s daily routine involves real estate in some capacity, whether it’s retail, office, industrial, hospitality, or residential. Planning, dedication, and hard work turn ideas into real assets where people live, work, and enjoy life.
Can you tell us about one of the most interesting or meaningful projects you’ve been involved in, and why it stands out to you?
Early in my career, during the 2008 financial crisis, I was quickly put in a position to manage several challenging situations. One involved navigating a large complex land acquisition that became problematic when market conditions deteriorated. Through careful negotiation and creative problem-solving over many months, we were able to restructure the deal and ultimately achieve a successful outcome. Working through this challenge was a real confidence booster and an incredibly meaningful learning experience that taught me the value of persistence, problem-solving and adaptability in difficult times.
My two key pieces of advice to all young professionals, including Wisconsin real estate students, are: strive to have a good reputation and be patient. We all live in a world today where things happen incredibly fast and people seek instant gratification. There will always be a few who obtain success overnight, but that is not the norm. Being successful in the business world takes hard work, grit, and patience. Most people do not end their careers where they started, so understand it’s a long road and that knowledge and skills are absorbed every step of the way. I encourage students to take full advantage of the Wisconsin School of Business career resources as they explore opportunities in the industry.