MaryAnne Gilmartin

Tell us about a deal that did NOT go through this year and why it didn’t happen?

There were a few multifamily deals leading up to the Affordable New York deadline that we were excited about, but couldn’t get comfortable with the lead time.

Have you refinanced anything in 2022? How difficult/easy was it?

No, but the markets are tight and we are looking to the future. Hopefully, the frothiness in the capital markets calms as the Fed’s monetary policy starts to take effect. We were lucky that we were in the debt markets in early 2022.

There’s a lot of Class B and C office in NYC. If you could lay your hands on them at a really great price, what would you do with them?

Convert to residential all day long. But, without a compelling tax program, I don’t see this happening any time soon.

What market outside of NYC do you like and why?

We just took on a 235-acre project in Baltimore that will be an example of how large-scale development can create a positive impact for a city. Baltimore is emblematic of an exciting market: excellent access to talent, premier location between NYC and D.C., and there is still a value play.

How many days per week are you in the office?

The team is back in the office four days per week.

ESG: fad or fixture?

It is a ridiculous question. All sectors of the market, including real estate, have a deep responsibility to our people, our Earth and the communities in which we are building. I am glad that it now has a name in the boardroom, but these principles are why MAG Partners is in the business.