THE ROOFTOPS CONFERENCE

NYC

2019 Property Perspectives for Not-for-Profit Organizations

Friday, April 5, 2019 8:30 a.m.–12:15 p.m. Rooftops Group LLC E [email protected] New York Law School www.rooftopsproject.com 185 West Broadway

Presented by The Rooftops Project and Center for Real Estate Studies

Center for Real Estate Studies 185 West Broadway New York, NY 10013-2921 WE ARE NEW YORK’S LAW SCHOOL T 212.431.2306 E [email protected] SINCE 1891 A few important notes and a legal disclaimer (after all, at New York Law School we are trained as lawyers, and we train future lawyers, so inevitably we think like lawyers):

• Rooftops Conference 2019 and these accompanying materials are not intended and should not be construed as legal, tax, investment, or professional advice.

• The information and views expressed may not apply to individual readers or to their organizations or to any particular facts or circumstances.

• Attendance at The Rooftops Conference 2019 or receipt of these materials does not create any attor- ney-client relationship.

• Engagement and consultation with appropriately qualified, experienced, and licensed professionals should always be sought with respect to planned transactions, investments, and projects.

THE ROOFTOPS PROJECT • These materials are provided as a supplement to the panel discussions and presentations at the live conference, but do not serve as a summary or outline of the live discussion. They do not purport to be a complete or exhaustive treatment of the topics they address. Project Mission and Goals • Views expressed by speakers and panelists, or in these materials, are not necessarily those of New The Rooftops Project is an initiative founded and directed by James Hagy, Distinguished Adjunct York Law School, its faculty, staff, or students. Professor with the Center for Real Estate Studies at New York Law School. It provides real • Neither Rooftops Group LLC nor New York Law School nor its faculty or staff evaluate, rate, review, or estate programs, workshops, and Web and print resources for not-for-profit organizations, with recommend products, services, or suppliers whatsoever. Any particular products, services, or suppliers several goals: mentioned are used as examples to illustrate concepts and are for general information only.

n To be the host of an ongoing dialogue within the community of not-for-profit executives and • No representations or warranties are given whatsoever, express or implied, with respect to information managers, not-for-profit board members and volunteers, and real estate industry profession- presented at The Rooftops Conference or contained in these materials or their accuracy. Any represen- als about topics relating to the effective occupancy, use, and management of real estate in tations or warranties that might otherwise exist, whether by statute, common law, or otherwise, are expressly excluded and disclaimed. the social sector. n To highlight and celebrate the diverse roles played by real estate (as physical space) in sup- • Rooftops Group LLC and New York Law School and its faculty expressly disclaim and do not accept any liability for any loss resulting from errors or omissions contained in, or for following or applying princi- porting the missions of not-for-profit organizations of every type, from museums to places of ples or views expressed at, The Rooftops Conference or in these materials, including without limitation worship, from social and human services to education and advocacy. any liability for direct, indirect, consequential, exemplary, or punitive damages or for loss of profits or business opportunity, whether by tort, negligence, breach of contract, or otherwise. n To increase awareness of the contribution that a disciplined approach to real estate can make in not-for-profit organizations of every size, from those with a single location to those with a national or international presence.

Copyright © 2019 Rooftops Group LLC. Copyright to individual articles and other content reproduced in conference materi- als is held and retained by the individual author or copyright holder. All rights are expressly reserved. Conference presenta- tions and these materials may not be quoted, copied, referenced, or reproduced in any way, in whole or in part, whether in printed or electronic format, without express written permission, which may be given or withheld in the sole discretion of the individual author or copyright holder. THE ROOFTOPS CONFERENCE AGENDA

8:30 a.m. Registration and Continental Breakfast

9:00 a.m.–9:15 a.m. Snapshots from the Rooftops: Welcome and Introductory Remarks

Conference Moderator: James Hagy, Distinguished Adjunct Professor, New York Law School, and Director of The Rooftops Project

9:15 a.m.–9:45 a.m. Spaceworks

Risa Shoup will discuss the history of Spaceworks, a not-for-profit developer of subsidized creative workspace that was started by the Department of Cultural Affairs in 2011 and became an independent not-for-profit in 2012. Risa will discuss Spaceworks’ unique, hybrid role as developer, property manager, and service provider within the New York City arts ecology. Their talk will focus on the importance of internal and external transparency in work that spans the public and private sectors.

Risa Shoup, Executive Director, Spaceworks

9:45 a.m.–10:30 a.m. Boardroom Bliss, Boardroom Blitz

Property-related matters present opportunities and challenges to not-for-profit board and staff leadership, from transactions and projects to governance, compliance, finance, and operations. In this mock board meeting simulation, our brave volunteer panelists will confront and consider a variety of surprise real estate scenarios as they imagine themselves attending their first session for a not-for-profit organization with plenty of property puzzles. You will have a chance to compare how you would vote to the board’s conclusions!

Moderator: Professor James Hagy

Panelists: Jonathan Denham, Co-President, Denham Wolf Jack Esterson, AIA, Principal, Think! Architecture + Design Susanna S. Fodor, Partner, Scarola, Malone, & Zubatov LLP Anitra P. Hadley, Board Chair, Girls Inc. of Westchester County Gerald Korngold, Professor of Law, New York Law School Ron Ries, C.P.A., CGMA, Business Consultant David G. Samuels, Partner, Duval & Stachenfeld LLP Jennifer Swayne, Chief Strategy Officer, Brooklyn Community Services Richard Warshauer, Senior Managing Director, Colliers International NYC LLC

The Rooftops Conference • 1 continued THE ROOFTOPS CONFERENCE AGENDA

10:30 a.m.–10:45 a.m. Break

10:45 a.m.–11:30 a.m. Communications, Community, Campaigns

This curated conversation will explore themes about effective not-for-profit fund development drawing on panelists’ experiences with not- for-profits across mission types. How can organizations best anticipate, time, and plan successful campaigns? What makes for effective development collaborations between board and staff? What is the role of an outside consultant? What messaging is effective for funding less visible needs like deferred property maintenance and repairs? Can the potential impact of special campaigns on annual giving be managed? Where do major and legacy gifts, restricted or unrestricted, fit? What if in all of this the project (or the organization) is small? And how can regular communications with stakeholders contribute to build and sustain your donor base, promote volunteer development, and create links to the broader community?

Moderator: Professor James Hagy

Panelists: Gordon J. Davis, Partner, Venable LLP Raymond P. Happy, Principal & Managing Director, CCS Fundraising Stephany Lin, Associate, U3 Advisors Michael Phillipou, Partner, Venable LLP Todd Stern, Managing Director, U3 Advisors

11:30 a.m.–12:15 p.m. Budget and Schedule Development and Management for Your Capital Project

Have you wondered why your project—whether it’s a major new construction or a simple repair with a local contractor or tradesperson— seems to inevitably take longer or cost more than you expect? Effective time and cost management begins at the very conception of a project and continues throughout the project life cycle. This presentation aims to teach you how to establish project budgets and timelines and manage them proactively. Topics will include critical path scheduling, essential pre-construction activities—including cost estimating and value engineering—and developing realistic budgets and project status reporting protocols. The goal of this program is to introduce you to the presenters’ best practices in financial and schedule control to start your project off correctly.

Allison Robin, Principal, Levien & Company Adrienne Hepler, Principal, Levien & Company

2 • The Rooftops Conference continued THE ROOFTOPS CONFERENCE SPEAKERS

MODERATOR

JAMES HAGY Distinguished Adjunct Professor, New York Law School, and Director of The Rooftops Project In addition to teaching at New York Law School and at Loyola University School of Law, where he is Distinguished Lecturer in Residence, Jim Hagy founded and directs The Rooftops Project. He is also an affiliated transnational professor at Peking University of Transnational Law and lectures frequently at other universities and for business audiences in the United States and abroad. During his 28-year career with Jones Day, the global law firm, Professor Hagy served for 10 years as the co-chair of the firm’s worldwide general real estate practice. He also formed and chaired the firm’s Corporate Real Estate Services practice worldwide. He advised a broad range of Fortune 500, Finacial Times 500, and private companies in major national and international transactions. He is an elected member of the American College of Real Estate Lawyers.

PANELISTS AND SPEAKERS

GORDON J. DAVIS Partner, Venable LLP Gordon Davis works with clients in Venable’s Real Estate and Tax-Exempt Organizations Groups. He counsels not-for-profit organizations and cultural institutions, notable public/private developments, and major New York revitalization projects on various real estate and financing issues. He played a key role not only in founding such cultural institutions as the Conservancy and Jazz at Lincoln Center, but also in driving high-profile redevelopment and renovation projects involving the World Trade Center and other iconic New York institutions. Gordon’s experience includes: expanding and renovating the American Museum of Natural History, including the Rose Planetarium and proposed Gilder Center; reclaiming ; expanding the U.S. Tennis Association’s Billie Jean King National Tennis Center in Flushing Meadows Park; overseeing the planned rebuilding of New York’s Penn Station (Amtrak) and the Mt. Sinai Health System’s Hess Center for Science and Medicine; negotiating funding and construction of capital facilities for the Dance Theater of Harlem, the Studio Museum in Harlem, the New York Public Theater, Jazz at Lincoln Center, and Cooper Union; and negotiating funding for numerous capital projects and facilities at the New York Public Library, including restoration of the 42nd Street Central Library and its Rose Main Reading Room. Prior to joining Venable, Gordon served as special assistant to New York City Mayor and was appointed Commissioner of the New York City Planning Commission. Mayor appointed Gordon to be his first Commissioner of the Department of Parks and Recreation for the City of New York. After leaving public service and prior to becoming a partner at Venable, Gordon was a partner in the law firms of Lord Day & Lord and LeBoeuf, Lamb, Greene & MacRae.

The Rooftops Conference • 3 THE ROOFTOPS CONFERENCE SPEAKERS

JONATHAN DENHAM Co-President, Denham Wolf Jon Denham has over 25 years of experience in planning, design, and construction in New York City. Guided by his complementary background in civil engineering and urban planning, Jon co-founded Denham Wolf with Paul Wolf to provide integrated real estate services to not-for-profit organizations as a means towards sustainable and dynamic urban development. His work has included planning and feasibility studies, building and facility assessments, and the design and construction of a diverse range of building projects for educational, healthcare, and cultural organizations. Jon’s work is strengthened by his ability to work with complex development structures, extensive contacts with government and private development entities, and a strong track record with community groups and elected officials. Key projects include the development of the Jerome Robbins Theater for the Baryshnikov Arts Center, a permanent home for Poets House in Battery Park City, a new headquarters facility for the Joseph P. Addabbo Family Health Center, and Scandinavia House, a multifunctional cultural center for the American-Scandinavian Foundation. Before jointly founding Denham Wolf, Jon studied engineering at Princeton University. During this time, he developed an interest in architecture as well, which further drove his interest in the built environment. After college, he worked in consulting engineering, and went on to work at the New York City Economic Development Corporation (NYCEDC), where his work in public-sector development and urban planning led him to pursue a master’s degree at New York University’s Wagner School of Public Service. Continuing his work at the NYCEDC, ultimately as Senior Vice President of Capital Program & Planning, he completed a number of major projects including alternative site assessments for Yankee Stadium and Shea Stadium.

JACK ESTERSON, AIA Principal, Think! Architecture + Design Jack Esterson has practiced architecture in New York City for 43 years. He is a passionate lover of the City and cares deeply about the built environment’s effect on its life, culture, and vibrancy. For that reason, Jack has devoted much of his practice on serving the larger community through public work with not- for-profits, community-based organizations, city agencies, and cultural and academic clients. Because of Jack’s background in fine arts and his commitment to the quality of the City, his greatest interest lies at the intersection of artistry, technology and social advocacy. He is driven, with his partners at Think!, to reinvent expectations, to raise the bar of what can be achieved in the realm of public architecture and to advocate for design excellence no matter the budget, the site or the program, and ultimately to realize an empathetic design that reflects the clients’ identity and aspirations. Jack attended Pratt Institute in Brooklyn and still resides in the Clinton Hill neighborhood. He returned to Pratt in the 1990s to teach design studios for several years and maintains a strong connection to the Institute. Jack’s achievements have been recognized in the media and have earned various awards. Most significantly, to him, is the 2015 H.H. Richardson award for Public Architecture in New York State, an honor given to an architect who has demonstrated a lifetime commitment to the public realm.

SUSANNA FODOR Partner, Scarola Malone & Zubatov LLP Susanna Fodor is among only a few attorneys in the United States with the distinction of being elected to membership in both the American College of Real Estate Lawyers and the American College of Construction Lawyers. Her dual skill set, coupled with a pragmatic business sense, has made her counsel of choice to a diverse and dynamic client base undertaking transactions in the real estate and construction spaces throughout the world. She also has a long-standing dispute resolution practice, and serves on the American Arbitration Association’s Large Complex Construction Case Panel.

4 • The Rooftops Conference ANITRA P. HADLEY Board Chair, Girls Inc. of Westchester County Anitra Hadley is a not-for-profit executive. She currently serves as Board Chair of Girls Inc. of Westchester County and previously held senior roles at Harlem Village Academies and the East River Development Alliance, where she served as Director of Business Management and Chief Operating Officer, respectively. Anitra began her career at J.P. Morgan Chase & Co. specializing in Operational Risk Management. She has an undergraduate degree in communications from Cornell University and a master’s degree in public administration from New York University’s Robert F. Wagner Graduate School of Public Service. Anitra lives in Westchester County with her husband and four children.

RAYMOND P. HAPPY Principal & Managing Director, CCS Fundraising Raymond Happy has planned, directed, and supervised fundraising campaigns throughout the United States and has provided strategic advice to leading organizations around the globe. His projects have raised billions of dollars. In his career at CCS, Raymond has conducted numerous feasibility and planning studies, building programs, endowment campaigns, and annual appeals. He has helped institutions recruit new trustees, solicit transformational gifts, develop strategic plans, and train leaders across the world in best practices in fundraising and philanthropy.

ADRIENNE HEPLER Principal, Levien & Company Adrienne Hepler’s project work focuses on not-for-profit and cultural institutions, managing complex capital projects with rigorous government approvals, public funding requirements, and compressed schedules. She also focuses on business development and ongoing client support to enhance and expand Levien’s reach. Adrienne was the manager for the restructuring and phased renovation of the Nightingale-Bamford School, and the renovation of West Side Montessori School. Currently, she is overseeing the construction of the Cooke Center for Learning and Development, a new 60,000 square foot school dedicated to students with special needs, and a master plan for New York City’s Theatre Row. Prior to joining Levien in 2013, Adrienne served for six years as Director of Capital Projects and Government Relations at The Public Theater in New York City, where she managed a $42 million renovation to a landmark building, which remained operational during four years of construction. Adrienne also worked at the Lower Manhattan Development Corporation as a Project Manager for Policy and Programs, where she oversaw the implementation of over $200 million in federal grants to schools, parks, cultural organizations and economic development programs. She received her master’s in public administration, public and nonprofit management, from the Robert F. Wagner Graduate School of Public Affairs at New York University and her B.A. in political science from Tulane University.

GERALD KORNGOLD Professor of Law, New York Law School Gerald Korngold returned to New York Law School in 2008 from Case Western Reserve University School of Law, where he was the McCurdy Professor of Law, and also served as Dean from 1997 to 2006. He was a faculty member at New York Law School from 1979 to 1987 and Associate Dean of Academic Affairs from 1984 to 1986. Professor Korngold has lectured nationally and internationally on land and property law issues and writes and teaches in the field of property and real estate law. He is the author ofPrivate Land Use Arrangements: Easements, Real Covenants, and Equitable Servitudes (Juris Publishing, 2016), co-author of two casebooks, Real Estate Transactions: Cases and Materials on Land Transfer, Development, and Finance (Foundation Press, 2015) and Cases and Text on Property (Aspen Publishers, 2015), and co- editor of Property Stories (Foundation Press, 2009). He is an elected member of the American Law Institute and the American College of Real Estate Lawyers.

The Rooftops Conference • 5 continued THE ROOFTOPS CONFERENCE SPEAKERS

STEPHANY LIN Associate, U3 Advisors Stephany Lin joined U3 Advisors in September 2016, bringing experience in nonprofit development and urban planning. At U3 Advisors, Stephany’s projects have ranged from broad economic and neighborhood development strategies to site-specific real estate analysis. She has worked with foundations such as the Kresge Foundation in Detroit, universities including Washington University in St. Louis, New York Institute of Technology, and Drew University, and not-for-profits such as Christ Church and Astor Services for Children and Families in New York City. Prior to joining U3 Advisors, Stephany served as the Executive Director of Schools That Can Newark, where she led the growth of a network of district, charter, and independent schools in Newark, New Jersey. She facilitated programming to allow schools to collaborate and share best practices in their classrooms, while also conducting fundraising and outreach initiatives. Stephany holds a B.A. and a master’s in urban planning from Harvard University. During graduate school, she was a member of the winning team of the 2016 Urban Land Institute Hines Student Competition. She also participated in projects ranging from advising a new young adult homeless shelter in Harvard Square to researching economic development strategies for local towns and interned at the New York City Department of City Planning Waterfront Revitalization Program.

MICHAEL PHILLIPOU Partner, Venable LLP Michael Phillipou is a Partner in Venable’s New York Real Estate group. Michael’s specialties include construction, development, leasing, acquisition, and disposition of key assets. Michael has developed a niche representing some of New York’s premier not-for-profit and quasi-governmental institutions, including clients in the educational, cultural, religious, transportation and medical fields. Representative transactions include providing construction counsel for the public areas of the World Trade Center site, major capital expansions for some of New York’s premier educational institutions, the development of the Admiral’s Row project at the Brooklyn Navy Yard and construction of Amtrak’s new concrete tunnel casing, preserving the ability to double capacity into Penn Station. He often serves as outside general construction and transaction counsel to land holding clients.

RONALD F. RIES, C.P.A. CGMA Business Consultant Ron Ries has significant experience providing audit, tax, and consulting services to both not-for-profit and for-profit organizations. Over the past 30 years, he has concentrated on the not-for-profit sector, including public accounting work with the firm Goldstein Golub Kessler LLP, where he ultimately became head of their not-for-profit services practice, and more recently a partner with the firm Mazars USA LLP. In interim years, Ron spent five years as Chief Financial Officer at the Jewish Board of Family and Children’s Services, a $200 million social services agency. Ron brings an industry insider perspective to his roles in public accounting, where he assisted clients with their operating, fiscal, and management needs. Earlier in his career, Ron assisted manufacturing and distribution companies with worldwide operations, and privately held businesses and professional practices. This experience included nine years as Chief Financial Officer at a publicly-traded precious metals company. Ron currently sits on several boards of not-for-profit organizations, including as both Treasurer and Chair of their audit committees. He was previously the Chair of the American Institute of Certified Public Accountants FEF Conference and is currently on the Steering Committee of the AICPA National Not-for-Profit Conference. Ron lectures and writes frequently on operating and fiscal matters, primarily in the not-for-profit sector, and is a contributing editor forThe CPA Journal, a professional publication. Ron received his B.B.A. from The City College of New York. He is a certified public accountant in the State of New York, and an accredited chartered global management accountant. Ron is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants, where he sits on the Accounting for Non-Profit Organizations and the Tax Exempt Entities committees.

6 • The Rooftops Conference continued

ALLISON ROBIN Principal, Levien & Company Allison Robin’s career in project management has been largely shaped by her current role at Levien & Company, where she serves as owner’s representative for a wide variety of not-for-profit and commercial clients. Since joining Levien & Company in 2009, Allison has become a leader in developing the firm’s standards of practice and has established expertise in cost control—including managing change requests, financial reporting and public funding sources—for more than $250 million in construction projects. The multi-phased renovation of the Park Avenue Armory, which entailed major infrastructure upgrades and historic restoration of iconic interior Landmarks while maintaining full operation of the facility, has been a highlight of her professional experience. In 2015, she completed the construction of the Hajjar STEM Center for the Dwight-Englewood School in Englewood, New Jersey, which was recognized with the AIA’s 2016 Education Facility Design Award. Her current work includes the development of a 110,000-square- foot affordable housing project for Clinton Housing Development Company on Manhattan’s west side and new LEED Gold branch library for the Brooklyn Public Library. Prior to joining the firm, Allison worked as a Project Manager for Richter & Ratner Contracting in New York City. One of her notable projects during that time was the 45,000-square-foot LEED Gold Center for Global Conservation at the Bronx Zoo. As an adjunct professor at New York University’s (NYU’s) Schack Institute of Real Estate, Allison teaches a graduate-level course in Construction Budgets and Cost Management. She received her B.S. in city and regional planning with a concentration in architecture from Cornell University, and her M.S. in construction management from NYU. Allison is President Elect of the New York chapter of Commercial Real Estate Women and was recently recognized as a 2018 “Woman to Watch” by Real Estate Forum.

DAVID G. SAMUELS Partner, Duval & Stachenfeld LLP David Samuels joined Duval & Stachenfeld LLP as a partner in 2006. He was Deputy Chief of the New York Attorney General’s Charities Bureau from 1987 to 1995. His practice covers a wide range of issues involving charitable organizations, including compensation, governance, fiduciary duty, self-dealing and conflict of interest. He has extensive experience representing numerous and varied public charities and private foundations, including social service agencies, grant-making foundations, mental health facilities, educational organizations, and religious institutions. He teaches Charitable Organizations as an adjunct professor at New York Law School. David is the former chair of the Nonprofit Organizations Committee of the New York City Bar Association. He is the lead editor and co-author of a treatise, “Nonprofit Compensation, Benefits, and Employment Law,” and has written extensively on nonprofit issues. He is also an experienced civil and appellate litigator and employment lawyer. David was named the Best Lawyers 2016 Non-Profit / Charities Law “Lawyer of the Year” in New York City. David received an A.B.cum laude from Harvard College in 1974, a J.D. from Harvard Law School in 1978, and an LL.M. from New York University’s School of Law in 1985.

RISA SHOUP Executive Director, Spaceworks Risa Shoup is the Executive Director of Spaceworks, a New York City-based nonprofit cultural community development organization dedicated to expanding the supply of subsidized rehearsal, studio, and community space for New Yorkers. Spaceworks pursues its mission in collaboration with artists, partners, and neighborhood residents. Spaceworks is committed to preserving, protecting, and restoring cultural legacies in collaboration with its partners and neighbors. Risa has worked for the past 14 years in New York City, focusing on the production of subsidized space for arts and culture that elevates and strengthens local communities. They serve on the boards of Naturally Ocurring Cultural Districts New York and The Invisible Dog Art Center and on the planning committee for the American Museum of LGBTQ Culture. Risa was a consultant for CreateNYC, New York City’s first-ever cultural plan.

The Rooftops Conference • 7 THE ROOFTOPS CONFERENCE SPEAKERS

TODD STERN Managing Director, U3 Advisors Todd Stern joined U3 Advisors in 2015, bringing over 20 years of diversified real estate, finance, and investing experience across the United States as well as asset classes. Todd has served as an investor, developer, and consultant to complex, urban, mixed use, and public-private real estate development projects. At U3 Advisors, Todd is responsible for managing the New York office, leading client engagements, and for new business development. Todd has worked extensively with our higher education clients on matters relating to the structuring and negotiation of public-private partnerships; the creation of innovation districts; the development of student housing; neighborhood economic development; and the acquisition/disposition/valuation of real estate assets. Prior to joining U3 Advisors, Todd was Senior Director of Financial Strategies at Street Works Development, a national developer and consultant. In this capacity, Todd directed all finance and analytic activities, including securing debt and equity; structuring and negotiating public private partnerships; market analysis; and financial modeling. Todd also project- managed the acquisition and development of individual parcels for Street Works’ owned portfolio, and consulted to Street Works’ clients on land development strategy and transaction execution. Before joining Street Works, Todd was Vice President of the Goldman Sachs Urban Investment Group, where he was responsible for identifying, negotiating, and asset managing private real estate investments throughout the United States and across asset classes. Todd’s expertise also includes tax advantaged public-private financing mechanisms such as tax-exempt debt and tax credit equity. He directed one of the country’s first awards of New Markets Tax Credits, deploying capital across several retail and mixed-use projects. Todd first joined Goldman Sachs in 1994 in the Municipal Finance Department, where he was involved in underwriting over $500 million in tax-exempt bonds for public and nonprofit debt issuers.

JENNIFER SWAYNE Chief Strategy Officer, Brooklyn Community Services Jennifer Swayne is an attorney who is passionate about empowering communities. Prior to her current role as BCSs’ Chief Strategy Officer, Jennifer was BCS’s Legal Counsel. She has served at not-for-profit organizations in various capacities that include providing legal services, policy advocacy, and project management consulting. Through her roles with organizations such as the Education Delivery Institute and New York Lawyers for the Public Interest, she brings a wealth of knowledge in healthcare access and education to BCS. Prior to her transition into the not-for-profit arena, Jennifer was a litigation associate at Skadden, Arps, Slate, Meagher, and Flom LLP. Additionally, she has served on various boards, including as Board Chair for La Cima Elementary School (Brooklyn) and as a member of an advisory children’s subcommittee to the New York City Department of Health and Mental Hygiene. Originally from Oakland, California, Jennifer has a J.D. from New York University’s School of Law and a B.A. from the University of Michigan.

RICHARD WARSHAUER Senior Managing Director, Colliers International NYC LLC Richard Warshauer, a senior managing director of Colliers International’s NY tri-state hub, is an established New York City real estate industry veteran with more than 35 years of industry experience. He has represented major commercial property owners and tenant organizations in a large variety of diversified transactions, ranging from major office buildings to major acreage sales. Colliers International is the third largest commercial real estate services firm globally, with 482 offices in 612 countries, 13,500 employees and 1.12 million square feet under management. An avid New York City historian, Richard has been conducting historical walking tours, “The Great Crashes of Wall Street,” since 1988 for the Museum of American Finance and other not-for-profit groups.

8 • The Rooftops Conference A few important notes and a legal disclaimer (after all, at New York Law School we are trained as lawyers, and we train future lawyers, so inevitably we think like lawyers):

• Rooftops Conference 2019 and these accompanying materials are not intended and should not be construed as legal, tax, investment, or professional advice.

• The information and views expressed may not apply to individual readers or to their organizations or to any particular facts or circumstances.

• Attendance at The Rooftops Conference 2019 or receipt of these materials does not create any attor- ney-client relationship.

• Engagement and consultation with appropriately qualified, experienced, and licensed professionals should always be sought with respect to planned transactions, investments, and projects.

THE ROOFTOPS PROJECT • These materials are provided as a supplement to the panel discussions and presentations at the live conference, but do not serve as a summary or outline of the live discussion. They do not purport to be a complete or exhaustive treatment of the topics they address. Project Mission and Goals • Views expressed by speakers and panelists, or in these materials, are not necessarily those of New The Rooftops Project is an initiative founded and directed by James Hagy, Distinguished Adjunct York Law School, its faculty, staff, or students. Professor with the Center for Real Estate Studies at New York Law School. It provides real • Neither Rooftops Group LLC nor New York Law School nor its faculty or staff evaluate, rate, review, or estate programs, workshops, and Web and print resources for not-for-profit organizations, with recommend products, services, or suppliers whatsoever. Any particular products, services, or suppliers several goals: mentioned are used as examples to illustrate concepts and are for general information only.

n To be the host of an ongoing dialogue within the community of not-for-profit executives and • No representations or warranties are given whatsoever, express or implied, with respect to information managers, not-for-profit board members and volunteers, and real estate industry profession- presented at The Rooftops Conference or contained in these materials or their accuracy. Any represen- als about topics relating to the effective occupancy, use, and management of real estate in tations or warranties that might otherwise exist, whether by statute, common law, or otherwise, are expressly excluded and disclaimed. the social sector. n To highlight and celebrate the diverse roles played by real estate (as physical space) in sup- • Rooftops Group LLC and New York Law School and its faculty expressly disclaim and do not accept any liability for any loss resulting from errors or omissions contained in, or for following or applying princi- porting the missions of not-for-profit organizations of every type, from museums to places of ples or views expressed at, The Rooftops Conference or in these materials, including without limitation worship, from social and human services to education and advocacy. any liability for direct, indirect, consequential, exemplary, or punitive damages or for loss of profits or business opportunity, whether by tort, negligence, breach of contract, or otherwise. n To increase awareness of the contribution that a disciplined approach to real estate can make in not-for-profit organizations of every size, from those with a single location to those with a national or international presence.

Copyright © 2019 Rooftops Group LLC. Copyright to individual articles and other content reproduced in conference materi- als is held and retained by the individual author or copyright holder. All rights are expressly reserved. Conference presenta- tions and these materials may not be quoted, copied, referenced, or reproduced in any way, in whole or in part, whether in printed or electronic format, without express written permission, which may be given or withheld in the sole discretion of the individual author or copyright holder. THE ROOFTOPS CONFERENCE

NYC

2019 Property Perspectives for Not-for-Profit Organizations

Friday, April 5, 2019 8:30 a.m.–12:15 p.m. Rooftops Group LLC E [email protected] New York Law School www.rooftopsproject.com 185 West Broadway

Presented by The Rooftops Project and Center for Real Estate Studies

Center for Real Estate Studies 185 West Broadway New York, NY 10013-2921 WE ARE NEW YORK’S LAW SCHOOL T 212.431.2306 E [email protected] SINCE 1891