With thoughtful preparation and meticulous execution, David leads his clients through every phase of a real estate project: strategic planning, site selection, financial analysis, negotiation and closing.
Professional Expertise
With thoughtful preparation and meticulous execution, David leads his clients through every phase of a real estate project: strategic planning, site selection, financial analysis, negotiation and closing. As a partner in the Not-For-Profit practice, David specializes in creating solutions for a variety of not-for-profits, religious organizations, hospitals and educational institutions. Clients include: New York Presbyterian Hospital, City University of New York, United Nations, American Red Cross, The New School, Brooklyn Law School, New York Public Library, Congregation Habonim, Metropolitan NY Lutheran Synod, FEDCAP and The Jewish Theological Seminary. These projects range from lease structuring to ground-up development to acquisitions and dispositions.
In addition to his not-for-profit specialty, David has recently completed major office leasing assignments for clients in the professional services, legal, manufacturing, and financial sectors including: Cravath Swaine & Moore, Sullivan & Cromwell, Dover Corporation, Kroll Bond Ratings Agency, and K2 Intelligence. This diverse nature of his transaction experience allows David to consistently negotiate the best deals for his clients.
New York Public Library
The team developed a strategic real estate plan to align NYPL’s properties with its operational and financial goals which resulted in the following transactions:
- Acquired and negotiated a 165,000 SF long-term lease in Long Island City for a consolidated back office operation,
- Acquired and negotiated a challenging lease for the temporary Donnell branch in Midtown,
- Sold the Annex warehouse on West 43rd Street for an above market price, and
- Identified and negotiated a complex swap transaction with the Church Pension Group for five office condominium floors at 188 Madison Avenue in exchange for a long-term net lease in its building at 445 Fifth Avenue. Several other sales and leasing projects are ongoing.
Congregation Habonim
Recipient of REBNY’s highest honor, The Most Ingenious Deal of the Year Award
With a strong congregation and a thriving nursery school, Habonim was out of space in its 50 year old facility on West 66th Street. Over the course of two years, Studley guided Habonim’s Board of Directors through a complicated series of analysis and negotiations. The end result of which was the sale of its site, and the adjacent site, to a developer who will deliver a new synagogue in the base of a large new residential building. Additionally, Studley identified the perfect temporary space just a few blocks away which will accommodate all of the functions of the synagogue, including the nursery school, during the construction of its new facility. Lastly, the transaction will result in a significant endowment for Habonim.
Fedcap
Fedcap had offices in two locations in New York and another in New Jersey. Christine McMahan, President of the organization had a vision of more centrally located real estate, greater financial security and better operating efficiency that she wanted to achieve during her tenure. We studied Fedcap’s situation and put together a package of transactions that achieved all of her goals. On behalf of Fedcap we purchased twice as much real estate as they already owned in a better location, accessing the tax exempt financing market and arranged a leasehold condominium in close proximity to the new headquarters, hence creating a campus operation and meeting all of Christine’s objectives. Both transactions will be real estate tax exempt, saving the organization at least $45 million over the next 30 years. The tax exempt financing will save the firm an additional $18 million over 20 years.
Brooklyn Law School
Seeking to upgrade its facilities and more efficiently run its operation, BLS engaged Studley to develop a strategic plan. Phase one of the project was to sell its property at One Boerum Place where we achieved a near record sales price for a Brooklyn development site. The team is currently evaluating Phase two options.
Prior to Studley, David held several senior positions in New York and Hong Kong at Landor Associates, a global branding consultancy. He led the consulting team in Hong Kong and as head of business development in New York, secured Studley as a client.
David is an active member of the Municipal Art Society in New York City and a dedicated Cornell alumnus, having volunteered as a Cornell Ambassador. He is also a member of the Urban Land Institute and The Real Estate Board of New York (REBNY).
David is a graduate of Cornell University, where he earned a Bachelor of Science degree in consumer economics. He also completed a minor in international studies at the Universidade Clássica de Lisboa in Portugal and is fluent in Portuguese.