Certificate in Commercial Real Estate

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

Steve Landfield is a Certified New York Real Estate Instructor at the NYREI. He has been teaching the popular Introduction to Commercial Real Estate Continuing Education Course for the last several years. Due to a demand for more in-depth commercial real estate education, Steve created and teaches the 19.5 hour Certificate in Commercial Real Estate course, as well as Property Management and Construction & Development for the Broker Licensing Course. He is developing a course that will cover case studies in Building Investment Sales & Purchases, soon to be offered at the NYREI.

He is a Representative at Town Residential, LLC. He specializes in leasing retail, office and other commercial spaces in New York City, as well as building sales & purchases for investment clients.

Steve is a certified Lead-Based Paint Inspector, trained to identify the presence of lead-based paint in housing, in order to protect children and adults from lead hazards, as well as an EPA Certified Renovator. He teaches EPA/HUD Lead Work Safety for Renovation, Repair and Painting, to contractors & building managers & superintendents for the NY Association of Realty Managers& throughout New York and the Mid-Atlantic States for Environmental Education Associates.

Steve has been involved in commercial transactions for many years with several brokerage companies in Manhattan, including two years as a partner in his own brokerage company. Prior to that, he was engaged in private practice and in real estate related businesses.

He received a Certificate in Advanced Property Management Techniques from The City of New York, Department of Housing Preservation and Development, and he is a New York Accredited Realty Manager by NYARM, the New York Association of Realty Managers, where he has also lectured to property managers on Fair Housing. He has completed courses in many areas of building operations and management, including Fair Housing, building finance, water and energy conservation, working with tenants and HUD Lead safe Work Practices.

Steve taught for 12 years as an Assistant Adjunct Professor in the Business and Public Service Department at Raritan Valley Community College, a county college in New Jersey. He has a Certificate of Eligibility as a High School Business Education Teacher issued by the New Jersey State Department of Education.

When not engaged in real estate matters, a commercial print model and actor, who has appeared in national newspaper and magazine ads as well as on several TV shows. 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-Chairperson. He remains an Advisory Board Member to the Council.

Steve has a BA in Urban Affairs from George Washington University and a JD/MBA from the Washington University Graduate School of Business, in St. Louis, Missouri.

Steve recently started a commercial real estate blog, "Quintessential Commercial Real Estate", which can be found at: commercialreal.blogspot.com.

He can be reached at: (718) 687-9131 or (973) 960-4242 slandfield@gmail.com

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 Directions