Michael Hammerslag joins Avison Young in New York City

Innovative industry leader becomes Principal and Senior Director,
will build consulting practice and lead research in Tri-State Area

NEW YORK CITY, June 2, 2015 /CNW/ - Arthur Mirante, Avison Young Principal and Tri-State President, announced today that highly innovative industry leader and former professor Michael Hammerslag has joined the company in New York City.

Effective immediately, Hammerslag becomes a Principal of Avison Young and Senior Director of Tri-State Consulting and Research. Based in the firm's Manhattan office, he will focus on building a strategic and financial consulting practice while also leading Avison Young's Tri-State research team.

"The addition of Mike to our team will enable us to significantly enhance and improve Avison Young's research and financial consulting capabilities in the Tri-State Area," comments Mirante. "This growth allows us to improve our service model, which aligns the interests and needs of our clients with the best-in-class skill sets and intellectual capital of our professionals. We are confident that Mike will build a highly capable team."

Hammerslag brings more than 25 years of commercial real estate experience to Avison Young, most recently as Managing Director at Savills Studley in New York, where he oversaw the expansion of a specialized financial consulting team. During his career, he has focused on research, strategy, financial forecasting, property management, leasing and ownership. Hammerslag's strategic and financial planning work has included: The Rockefeller Group's sale of Rockefeller Center to Mitsubishi Estate; Prudential Securities' 1.5 million-square-foot (msf) headquarters leases; determining and forecasting property taxes for 4 Times Square; and finalizing the acquisition of Sherwood and Holbrook Corporate Centers, among numerous other lease, sale and finance transactions. 

In addition to having gained considerable industry experience, he has instructed aspiring leaders in real estate and finance at several universities, including Cornell, the State University of New York at Oneonta, and New York University (NYU).

In his new role, Hammerslag will report to Avison Young Principal and New York City President Mitti Liebersohn.

"I'm thrilled to have Mike join our growing team here in New York City and increase our level of client service throughout the Tri-State Area," says Liebersohn. "Mike's comprehensive market knowledge, research and intelligence will assist investors, asset managers, owners, landlords and tenants to make strategic decisions that maximize their property values and, ultimately, grow their businesses. He will also help us expand our agency advisory services throughout the region and grow market share as we continue with our ongoing aggressive expansion program."

Hammerslag did doctoral course work in finance and real estate at the University of Connecticut, holds a Masters degree in real estate from NYU, an MBA in finance from Long Island University-Post, and a Bachelor of Science degree in computer science, business administration and mathematics from Heidelberg College. He also holds the Master of Corporate Real Estate designation from CoreNet Global, and serves as the Vice-President of Education on the executive committee of the Institute of Real Estate Management's New York City chapter. In his community, Hammerslag is the President of the Board of Directors of the Bright Hill Press and Literary Center in Treadwell, New York.

"I could not pass on an opportunity to build a team while working with Arthur and Mitti – two of the real estate industry's most respected leaders," says Hammerslag. "Establishing a talented and integrated team to better execute research and financial consulting will contribute to the already rapid growth that Avison Young is experiencing in the Tri-State Area. I am also excited to be part of the firm's Principal-led, collaborative culture and look forward to working with my colleagues across the U.S., Canada and in Europe."

Avison Young opened its first New York office in April 2012 in New York City, with Mirante joining as Principal and Tri-State President. The company opened its New Jersey office in September 2012, followed by a Long Island office in August 2013 and a Fairfield/Westchester office in June 2014.

Avison Young has secured a number of high-profile assignments since entering the New York City market. These assignments include being named by The Moinian Group as the exclusive office leasing agent for its 3 Hudson Boulevard – a state-of-the-art, new construction 1.8-msf world-class tower that will rise 66 stories in Manhattan's vibrant Hudson Yards district; and acting as office leasing agent for the Paramount Building at 1501 Broadway – an iconic 33-story, 788,897-square-foot (sf) tower in Midtown's Times Square district, for which Avison Young is currently advising ownership on a comprehensive reinvestment strategy.

The firm has also completed several significant transactions since establishing its New York City presence, including representing United Cerebral Palsy in the $135-million sale of the non-profit's former headquarters at 122 East 23rd Street in Manhattan; facilitating a 50,000-sf new office lease for Tremor Video at the Paramount Building; and representing Winthrop-University Hospital in its lease to open Manhattan's first CyberKnife center at 150 Amsterdam Avenue.

Hammerslag's hiring comes on the heels of Avison Young announcing that it has significantly expanded its presence in New York City with the relocation of its Manhattan office to a full floor – totaling 40,000 sf – at 1166 Avenue of the Americas, in addition to the recent hiring of Liebersohn.

Over the past six years, Avison Young has grown from 11 to 66 offices and from 300 to more than 1,800 real estate professionals across Canada, the U.S. and in Europe. 

Avison Young is the world's fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 1,800 real estate professionals in 66 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial and multi-family properties.

Editors/Reporters
• Please click on link to view and download photo of Michael Hammerslag:
http://www.avisonyoung.com/sites/default/files/content-files/Media_Room/Temp/Mike_Hammerslag.jpg

For further information/comment/photos:

• Christa Segalini, Vice-President, Beckerman PR: 201.465.8021; cell: 908.448.8591
• Elliot Baum, Principal and Vice-President of Marketing, Tri-State, Avison Young: 212.729.7465
• Sherry Quan, Principal, Global Director of Communications & Media Relations, Avison Young: 604.647.5098; 604.726.0959

www.avisonyoung.com

Avison Young was a winner of Canada's Best Managed Companies program in 2011, 2012 and 2013 and has demonstrated its commitment to the program and successfully reapplied for the designation as a Gold Standard winner in 2014.

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SOURCE Avison Young Commercial Real Estate (BC)

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