Meredith Marshall
Co-founder and managing partner at BRP Companies
What do you think the Mamdani administration is doing right and wrong in affordable housing?
I’m thrilled to see this administration making affordable housing a priority across New York City. The Block by Block plan is a strong example, calling for 200,000 new affordable homes and the preservation of another 200,000 over the next decade. The administration’s backing of large community projects like Sunnyside Yard, with its 12,000 planned affordable homes, is another.
When affordability comes first, we can put real estate to work, empowering local residents and strengthening neighborhoods. That means developing properties centered on the people who live, work and spend time in them every day.
Is the opportunistic window open or closed? How long does it remain open?
I believe the window is wide open and it will stay that way through year end. That may run counter to the broader market view, but we’re seeing a shift in our incoming pipeline where quality matters more than ever. Deals are fewer but larger, including multiphase, transformative, mixed-use and mixed-income projects.
With plenty of strong projects and very little capital to fund them, the opportunity lies in that gap, and BRP’s role is to marry the two.
If you could fix one global issue impacting commercial real estate, which one would you pick?
If I could fix one, it would be the war in Iran. Beyond human toll, it has created real uncertainty, with effects that reach nearly every part of the market. Commercial real estate runs on long timelines and large commitments, and what we need most is predictability, which will allow owners, lenders and developers to plan with confidence and return to a sense of normalcy.
What has been your biggest deal this year on the acquisition, finance or development side?
On the development side, I’m extremely proud of North White Plains in Westchester County, where we closed $178 million in construction financing in July. The mixed-use project includes two buildings and 296 units near transit, with completion expected in 2029.
On the sell side, we sold the Arboretum for $190 million in February. It’s a 62-acre property in Farmingville, located within the Town of Brookhaven on Long Island, a market with high barriers to entry.
Both deals reflect the tireless work of our team, whose dedication and expertise turned complex opportunities into positive results.
If you could enter one market that BRP isn’t already in, what would it be?
I’d choose Florida. We’re always evaluating new markets, and the Southeast is a strong focus for us. We’re already active in the Carolinas and have a major project underway in Atlanta, so Florida is the natural next step.
The state’s population keeps growing, and with that growth comes a real need for quality housing that working families can afford. That’s exactly where our mixed-use, mixed-income model can make an impact … and it also doesn’t hurt that my wife is a Floridian.
Lightning Round:
Your AI platform of choice? All of them.
Who would play you in a movie? Eddie Murphy — he’s a jokester like me.
Jalen Brunson or Aaron Judge? Brunson.
“Oppenheimer” or “Odyssey”? I’ll get back to you when I see them.
Tom Holland, Andrew Garfield or Tobey Maguire? Tobey Maguire — I’m a purist.
Have you ever eaten pizza with a knife and fork? No way, I’m a real New Yorker.
The most money you’ve ever spent on a hamburger? Probably $50, and it wasn’t worth it.
Bank or non-bank? Bank — I’m old school.
Last book you read? Medical Apartheid by Harriet A. Washington.
Borrowing costs — up or down in 2027? Down.
What was your nickname when you grew up/started out? M.
How long do we have before AI kills us all? Never.
Where’s your secret escape compound? Somewhere in the Caribbean, but the exact location I’ll never reveal.
The Stories Behind the List
