People

Stephen P. Palmese

Vice Chairman


Biography

Stephen is a 12-year New York City real estate veteran serving as Vice Chairman at Cushman & Wakefield, where he focuses on investment sales in the New York Metro area with an expertise in the Downtown Brooklyn market. To date, he has successfully helped his clients sell over 230 commercial properties for an aggregate value exceeding $2 billion. While his clients range from institutional investors, long-time owners, non-profits and religious organizations; they all choose to work with Stephen for his in depth market knowledge and tremendous work ethic. Previously, Stephen was a Partner at Massey Knakal Realty Services, which was acquired by Cushman & Wakefield on December 31, 2014.

Most recently, Stephen was awarded Cushman & Wakefield’s 2015 Glenn Markman Award honoring the individual who embodies the Cushman & Wakefield ethos. In 2014, he was awarded Massey Knakal’s Gerald W. Bridges Company-Wide Top Salesperson of the Year Award. He is also a five-time winner of Massey Knakal’s Stephen B. Siegel Brooklyn Salesperson of the Year (2010-2014). He is a perennial Top New York City Investment Sales Broker named by the Real Estate Forum and the CoStar Group. Among other accolades, in 2012, Stephen was profiled on the front cover of The Commercial Observer for having handled 8% of all Brooklyn sales in the first half of 2012.

Stephen’s charitable endeavors are numerous as well. He is a Founding Member of the Young Leadership Council for The Brooklyn Hospital Center and a Founding Board Member of Cristo Rey Brooklyn High School. He is a Member of Generation Advance at Brooklyn Academy of Music, a Member of the Jewish Children’s Museum and Museum of Jewish Heritage, and he sits on the steering committee for the Brooklyn Real Estate Roundtable.

Stephen graduated from Georgetown University, where he pursued a double major in International Finance and New and Small Business Management.

Awards:

-Cushman & Wakefield Top 100 Producer, Americas, 2015

-Glenn Markman Award, 2015

-Real Estate Forum’s Tomorrow’s Leaders: 2014

-Massey Knakal Salesperson of the Year Company-Wide: 2014

-Real Estate Forum’s Top Broker: 2012, 2014

-Massey Knakal Salesperson of the Year in Brooklyn: 2009, 2012-2014

-Top Sales Broker by CoStar Group: 2009, 2012-2014

-Massey Knakal 2nd place Company-Wide Salesperson of the Year: 2012, 2013

-Real Estate Forum’s 40 Under 40 list: 2013

-Massey Knakal Award for passion: 2012

-Massey Knakal Award representing overall values in Brooklyn: 2010

-Real Estate Weekly’s Commercial All Stars: 2008

Notable Transactions:

-The Flatbush Avenue Assemblage: Development site containing several tax lots - $154,000,000 total consideration

-9 DeKalb Avenue: Landmarked retail building with over 382,000 SF in additional air rights - $90,000,000

-511 W 35th Street: 415,000 buildable square foot development property in Manhattan’s Hudson Yards - $88,000,000

-180 Livingston Street: 4-story office condominium in Downtown Brooklyn - $85,000,000

-49 Bond Street: 600,000 square foot development property in Downtown Brooklyn - $70,000,000

-The Sterling Portfolio: 6 building, 71-unit portfolio located in Prospect Heights and Park Slope - $41,000,000

-The Washington Flats Portfolio: 129 unit portfolio across four buildings in Clinton Hill, Brooklyn - $38,000,000

-2 Pierrepont Street: 40,000 square feet, 39-unit building in Brooklyn Heights, Brooklyn - $35,000,100

-100 Luquer Street: 20-unit condominium building in Carroll Gardens, Brooklyn - $21,100,000


Affiliations

  • 12:30 Club of Bay Ridge
  • Brooklyn Historical Society
  • Brooklyn Vanguard for the Brooklyn Public Library, Founding Member
  • Jewish Children’s Museum
  • Museum of Jewish Heritage
  • Young Leadership Council for The Brooklyn Hospital, Founding Member
  • Brooklyn Real Estate Roundtable, Steering Committee
  • Cristo Rey Brooklyn High School, Founding Board Member
  • Brooklyn Academy of Music (BAM), Young Producers Alliance

Notable Recent Transactions

313 Gold Street, Brooklyn, NY 11201/$19,000,000 Development/Conversion Sites, Downtown Brooklyn, New York

 

204 Huntington Street, Brooklyn, NY 11231/$24,500,000 Apartment Buildings, Carroll Gardens, New York

 

109 Gold Street, Brooklyn, NY 11201/$14,500,000 Apartment Buildings, DUMBO, New York

 

139 Emerson Place, Brooklyn, NY 11205/$11,000,000 Apartment Buildings, Clinton Hill, New York

 

71-75 Greene Avenue, Brooklyn, NY/$4,000,000  Updated Price Special Use, Fort Greene, New York