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NY Department of State Approved

Certificate in Commercial Real Estate

A 19.5 hour class in commercial real estate is approved by the NY Deptartment of State for real estate continuing education credits.

Course Info & Registration

Date:/h3> Friday, May 16
Saturday, May 17
Sunday, May 18

Time: 9:30am

Course will be scheduled every month (Note: You will be allowed to mix and match sessions from one month to a following month just as you can in all other NYREI classes)

in Commercial Real Estate: $295

Certificate Course approved for 19.5 hours of continuing education. Does not include Fair Housing.

Register for the Premium Package

Combo Package: $320

Combo Package with addtional in-class required Fair Housing (in order to satisfy your 22.5 hours of CE with Fair Housing) with a discounted price of $320


Register for the Professional Package

About The Course

This class will present a comprehensive survey and examination of the field of commercial real estate, including commercial leasing, investment building purchases and sales, and case studies of commercial transactions; as well as an examination of the current state of the commercial real estate market in New York and what we can expect for coming year and beyond.

We will present a more in-depth review of commercial real estate in response to the demand for more material than we have been able to cover in the popular "Introduction to Commercial Real Estate" class, currently offered at the NYREI, as well as for those who just want to learn more about the interesting and potentially profitable world of commercial real estate transactions.

Upon completion of this class, you will receive a Certificate in Commercial Real Estate from the New York Real Estate Institute.

Course Topics

Among the many topics, this class will include:

Commercial Leasing
  • Basic types and terminology of commercial transactions.
  • Differences between commercial and residential real estate practices.
  • Types of commercial leases
  • Fair Housing laws and how they apply in commercial real estate
  • Leasing vs. Subleasing – definitions and the advantages and disadvantages of each
  • Issues regarding "location" and client needs
  • Working with commercial tenants & identifying their "real" needs
  • The features of commercial space – building features - hours of operation, elevators, availability of water, storage, traffic, etc.
  • Discussion of various tenants with special needs
  • Classes of Commercial Buildings – A, B, C & F buildings
  • How commercial space is measured, "loss factors" – rentable vs. useable space.
  • Additional costs – "Pass throughs" - electric, taxes & utilities
  • Commercial rent escalations & lease renewals
  • The process of finding & researching commercial space
  • Computerized Research Tools & How to Use Them – Property Shark, OLR, Loopnet & CoStar, Craigslist, etc.
  • The anatomy of a business leasing transaction
  • Commercial leasing case studies
  • Preparing, submitting & negotiating a commercial offer
  • Financial information/ Landlord location visits
Commissions & Getting Paid
  • The Lehman Scale
  • Other techniques and trends in computing commissions
  • Review of commission agreements & broker protection
Building Investment Sales & Purchases
  • Basic overview of sales & purchases
  • Types of Investment Properties
  • Reasons people buy & sell buildings
  • Flip transaction
  • The 1031 Exchange
  • Knowing your buyer & seller – buy & sell vs. hold
  • Issues in property location & buying strategies
  • Finding Buildings for Sale
  • Review of building Set-ups & basic information presented and weeding through Seller provided information & set-ups
  • Viewing & Inspection Issues
  • Financial Analyses – Measurement of Value & Financial Performance
  • Computation of accurate revenues, expenses & net income
  • Capitalization rates, gross rent multipliers
  • Debt service coverage, break even ratios, "cash-on cash"
  • Comparables – neighborhood & building analysis
  • Mortgage assumability and financial considerations
  • Distressed properties/Foreclosed properties
  • A purchase or sale offering & what it contains
  • "Due Diligence" and structural issues
  • Researching & dealing with building violations – DOB & ECB Violations
  • NYC building inspections
  • The broker's role in closing the transaction
  • Post-closing Exit Strategies
  • Case studies & analyses

About The Instructor

Steve Landfield boasts an accomplished background and years of experience in commercial leasing and sales, real estate education and environmental safety training. In the brokerage arena, Steve has closed many commercial transactions with several Manhattan real estate firms, including his own where he was partner for two years.

Steve is the Vice President of the Commercial Division at Nest Seekers International, where he has created and manages a group of agents specializing in the leasing of retail, office and other commercial spaces in Manhattan, and in investment building sales and purchases.

Steve is a Certified New York Real Estate Instructor, teaching at the New York Real Estate Institute, where his popular “Introduction to Commercial Real Estate” continuing education class created the demand for more in-depth commercial real estate education. In response, Steve developed and teaches the 19.5 hour Certificate in Commercial Real Estate class, which is a complete survey of commercial leasing and sales. He quite possibly teaches more commercial brokers and salespersons than anyone else in New York City.

Steve also teaches broker licensing classes in Property Management and Construction & Development, as well as his own intro class in commercial building purchases and sales, where he teaches brokers how to analyze commercial building finances and how to select investment buildings for clients.

In conjunction with the NYREI and Environmental Education Associates, Steve developed and teaches an “Introduction to Environmental Health Hazards ", which is a unique real estate covering Lead, Mold, Asbestos and Radon hazards for real estate professionals and how to deal with them in sales and rental transactions. This course is approved for 7.5 hours of continuing education credit by the NY Department of State.

Steve’s commitment to the industry is expressed through his membership on the Leasing Brokers Committee and the Midtown West/Penn Plaza Committee of the Real Estate Board of New York (REBNY). He is involved in a project to develop a professional real estate education program for students in an Eastern European country.

He was appointed in 1999 by the NJ State Legislature to the New Jersey Human Relations Council, which deals with issues of bias and prejudice, and where he served for two years as Vice-Chair. He remains an Advisory Board Member to the Council and he is the Chair of the Council’s Housing Committee, which examines issues of Fair Housing, discrimination & bias and Section 8 Housing issues in New Jersey.

Supplementing his real estate industry knowledge is Steve’s background as an environmental safety instructor. He is an EPA-Certified Lead-Based Paint Inspector, trained to evaluate pre-1978 housing for lead-based paint hazards. He is an expert in lead paint health hazards and safe removal procedures. He is also an EPA-Certified Renovator and a Principal Instructor in EPA/HUD Lead-Paint Safe Work Practices for Renovation, Repair and Painting for Environmental Education Associates. Steve is a certified Mold Remediation Worker (State of Texas Certification) and he has completed OSHA 30 hour general industry safety training. Over the past two years, Steve traveled the country giving EPA Lead Certified Renovator training classes to contractors, renovators and painters.

He also teaches environmental safety courses and seminars in NYC Lead Safe Work Practices and in Mold and Asbestos Awareness, and a new seminar, "OSHA/EPA Safety and Reporting Requirements for Building Superintendents" for New York City building superintendents at Local 32BJ of the Service Employees International Union (SEIU). To become a trained union building superintendent in New York City, you’ll be taking industry safety classes with him.

Steve furthered his expertise in building operations and management by receiving a Certificate in Advanced Property Management Techniques from The City of New York, Department of Housing Preservation and Development. He is a New York Accredited Realty Manager by the New York Association of Realty Managers (NYARM) where he has lectured to property managers on Fair Housing.

Outside of real estate, Steve is a commercial print model and actor who he has appeared in national newspaper and magazine ads as well as on several TV shows, on the Discovery Channel, The History Channel and MTV.

Steve has a BA in Urban Affairs from George Washington University and JD/MBA from the Washington University, in St. Louis, MO.

He is a Certified Real Estate Adviser, having completed a program from the Graduate School of Business at Touro College.

Find Steve on Twitter(@stevethebroker): www.twitter.com/stevethebroker

You can contact Steve at: slandfield@gmail.com
(973) 960-4242


Manhattan Branch

132 West 36th, 2nd Floor
New York, NY 10018
*Use entrance at 139 West 35th St. on nights and weekends (Between 7th and Broadway, North Side of Macy's) Phone: (212) 967-7508

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