Mr. Palmese, a Brooklyn native, joined Massey Knakal, in August 2004, after graduating from Georgetown University, where he pursued a degree in International Finance & Business Management, and also spent time studying at Oxford University, UK. His intense work ethic and strong analytic ability, coupled with his fundamental understanding of the industry, earned him an early promotion to Director of Sales for Bay Ridge, in February 2006. In October 2008, he was elevated to First Vice President of Sales for Downtown Brooklyn. After a successful year, Stephen was awarded the 7th Annual Stephen B. Siegel Salesperson of the Year Award for his success in Brooklyn at Massey Knakal; he was, also, named a 2009 CoStar Powerbroker for the Long Island division (including Brooklyn and Queens). In his career, Stephen has sold over 50 properties with an aggregate consideration of nearly $225,000,000.
In 2009, Stephen handled the largest apartment building and development site transactions to take place in Brooklyn (as of June 2010), in the post-Lehman Brothers economy. A 119-unit, 92,000+ square foot, six-story elevator building located at 333 Ovington Avenue closed in February for $11,225,000. The largest development site was located at 362-364 Ovington Avenue: a nearly true acre of land, with 92,000 + SF (approx.) of development rights that sold in May for $9,750,000. The site was owned by the nearly bankrupt 200-year-old Bay Ridge United Methodist Church, which will set up an annuity to keep the church’s programs running. After a successful year, Stephen was awarded the 7th Annual Stephen B. Siegel Salesperson of the Year Award for his success in Brooklyn at Massey Knakal; he was, also, named a 2009 CoStar Powerbroker for the Long Island division (including Brooklyn and Queens).
Stephen, also, represented the BF Group in the disposition of their 15-property, 943-unit, 943,546 square foot portfolio, which sold for $118,000,000. Additionally, he sold and saved the 85-year-old Alpine Theatre, the last surviving theatre in Southwest Brooklyn, by finding one of three independent movie theatre operators in New York to purchase the 2,000-seat venue. In August 2008, Stephen was responsible for revitalizing northern Bay Ridge by bringing a much needed 25,000 square foot supermarket to the area.
Mr. Palmese enjoys art, film and theatre producing. Additionally, he enjoys fitness and nutrition and participates in athletic events for charity. He is a founding member of the Brooklyn Vanguard for the Brooklyn Public Library, is an active member of the Brooklyn Historical Society, Columbus Citizens Foundation, Jewish Children’s Museum, Museum of Jewish Heritage, 12:30 Club of Bay Ridge, and a member of the Real Estate Board of New York.
Mr. Palmese resides in the West Village neighborhood of Manhattan and can be reached in the Brooklyn office at 718.238.8999, x6552.