Eastern Consolidated, Inc. recently hired Michele Nicoletta as an associate director and part of the firm’s loan sales and turnaround services group. Previously a managing director and head of credit trading at Standard Chartered Bank, she’ll specialize in the sale and acquisition of investment property.
Prior positions had included head of Latin America credit trading at Lehman Bros.—subsequently acquired by Barclays—head of credit flow trading at Deutsche Bank and a career start as a credit trader at JPMorgan in 1998. Ms. Nicoletta’s interest in Consolidated and real estate grew from a hiatus she took from Standard Chartered Bank at the end of 2011 to re-evaluate her options and spend time with her 8-year-old daughter. “The regulatory environment is just not conducive to any sort of risk-taking at this point,” Ms. Nicoletta said.
While contemplating law school or a job at a hedge fund, Ms. Nicoletta took a real estate class for fun, found an ad for investment sales associates for Eastern Consolidated and became intrigued by investment sales, feeling that the field played into her skill set. “I’ve always followed global markets, and real estate is a big part of that,” she said. She started her new job with Eastern—which offers a commission-based compensation package—on November 7.
Ms. Nicoletta predicts that 2013 will likely be a continuation of 2012 in that demand for city property will be high while supply will be low. “Everyone’s a buyer and nobody’s a seller,” she said. In response, buyers will continue to look on the periphery of already desirable neighborhoods.
Ms. Nicoletta is a graduate of Villanova University with a dual degree in economics and the honors program. She is also a member of the Real Estate Board of New York. Additionally, she holds her Series 7, 63 and 24 securities licenses.