The Commercial Observer has named Michael A. Tortorici, vice president of Ariel Property Advisors and one of the firm’s founding members, to its first annual “30 under 30” list of New York’s promising young commercial real estate brokers under 30. Mr. Tortorici is a resident of Boerum Hill, Brooklyn.
“Earlier this month, we asked executives, communication directors and your peers to nominate individuals they most admired under the age of 30—the ones they believe rank high among New York’s next wave of tenant and landlord representatives, investment sales agents, and retail fixers,” Jotham Sederstrom, editor-in-chief for the Commercial Observer wrote. “And after reviewing client rosters and career statistics, we were able to whittle a long list of talented individuals…”
Mr. Tortorici launched his career in commercial real estate while a student at NYU when he began an internship at Massey Knakal Realty Services working for Shimon Shkury, who is currently president of Ariel Property Advisors but was then a partner at Massey Knakal. Mr. Shkury started the firm with Mr. Tortorici, Victor Sozio, and Ivan Petrovic in 2011.
“I’m delighted that the Commercial Observer recognized in Mike this year,” Mr. Shkury said. “Not only is Mike a great broker, but he’s also played a leadership role in the development and growth of our firm. I’m also very pleased because this is the second consecutive year that the Commercial Observer has recognized one of our brokers. Last year, the publication named Vic Sozio one of the 20 to Watch in 2012.”
The Commercial Observer highlighted Mr. Tortorici’s sales record of 384 buildings consisting of approximately 7,541,453 square feet, and 70 development sites of approximately 1,375,189 buildable square feet—for a total value of almost $1.3 billion.
The article noted that Mr. Tortorici’s larger deals include the $80 million sale in 2007 of 1760 Third Avenue—a vacant nursing home that was converted to student housing—and this year, Southern Boulevard, a 372-unit Section 8 affordable housing package in the Bronx priced at $33.25 million. Notable clients include the Catholic Archdiocese of New York, The Watchtower, AREA Property Partners, Phoenix Realty Fund, Stonehenge Partners, BFC Partners and Artimus.