Daniel Mahfar.
Daniel Mahfar, 25
Investment sales director at Ariel Property Advisors
Daniel Mahfar kind of always knew that he wanted to go into real estate — his father built luxury, single-family properties on Long Island — but he was not sure which area of real estate. He studied financing and real estate at Boston University, and interned for two years each at Woodland Development and The Moinian Group.
He gained valuable experience and the wherewithal to start interviewing elsewhere for a full-time position. He interviewed extensively — nine different places in all facets of the industry, he told CO — and he came away with a revelation.
“The majority of people I interviewed with, they all said, ‘You’re very engaging, you’re very transparent, very straight-forward. I think you would do well as a broker,’” Mahfar recalled.
So, brokerage it was — investment sales mostly. Mahfar has worked at Ariel Property Advisors for three years, including 18 months now as its director of investment sales. He has evaluated $600 million in properties, including approximately $25 million in just the past 12 months, and has worked on the sale of more than 10 properties. His biggest deal, thus far, has been a $5.8 million trade of a 24-unit multifamily in the Bronx, a borough that Mahfar is bullish on.
Mahfar is bullish in general on the city’s investment sales market despite COVID-related challenges.
“I’ve been very happy about my decision, even though the market itself is on a downward trend, both on pricing and transaction volume,” the self-described people person said of his decision to go into brokerage. “This is a great learning experience.”
And it will all bounce back sooner than people think, he said. Mahfar said he has already seen investors and owners quickening the pace of their decision-making after sitting out much of the pandemic.
“They’re either doubling down on New York City, or they’re liquidating and moving on,” he said. “You know they say it’s the city that never sleeps? It’s taking a nap right now. That’s the view I have, and that’s the view of a lot of other people as well.”
