People

Stephen P. Palmese

Vice Chairman


Biography

Stephen is a 15-year New York City real estate veteran serving as Vice Chairman at Cushman & Wakefield and formerly Partner at Massey Knakal Realty Services. To date, he has successfully helped his clients sell over 400 commercial properties for an aggregate value of approximately $3.5 billion.

While his clients range from institutional investors, long-time owners, non-profits, and religious organizations; they all choose to work with Stephen for his in-depth market knowledge and tremendous work ethic. Recent notable investment sales include the $340,000,000 sale of 25-30 Columbia Heights in Brooklyn Heights, an office conversion site with over 707,000 SF. Additional noteworthy sales include 85-87 Jay Street, a development site for $345,000,000; 9 DeKalb Avenue, a landmarked commercial building with over 69,000 SF of space and an additional 313,000 SF of buildable air right for $90,000,000; and 315-329 Lincoln Place a $30,000,000 sale of a 48-unit residential portfolio in Prospect Heights.

Stephen’s charitable endeavors are numerous as well. He is a board member of the Brooklyn Academy of Music (BAM) and The Brooklyn Hospital Center (TBHC), a member of the Regional Plan Association (RPA), and a Founding Board Member of Cristo Rey Brooklyn High School.

Stephen graduated from Georgetown University, where he pursued a double major in International Finance and New and Small Business Management. As a compliment to this program, he also studied abroad at Oxford University in Oxford, England and Florence, Italy.

AWARDS & RECOGNITION

-2016: Mr. Palmese was a two-time winner as Cushman & Wakefield’s Top Producer in Brooklyn (2015-2016) and was in the top 100 of Brokers Nationwide. He was also featured in the Commercial Observer as the “Baron of Brooklyn” due to his overwhelming experience in the borough.

-2015: Mr. Palmese was awarded Cushman & Wakefield’s Glenn Markman Award honoring the individual who embodies the C&W ethos.

-2014: Mr. Palmese’s hard work and success earned him a promotion to Partner. He was awarded Massey Knakal’s Gerald W. Bridges Company-Wide Top Salesperson of the Year Award and was a five-time winner of Massey Knakal’s Stephen B. Siegel Brooklyn Salesperson of the Year (2010-2014).

-2013: Mr. Palmese was featured in Real Estate Forum’s 40 under 40.

-2012: Mr. Palmese was profiled on the front cover of The Commercial Observer for having handled 8% of all Brooklyn sales in the first half of 2012

As a thought leader in New York City real estate, Stephen is often quoted in New York City Trade Publications such as Real Estate Weekly, The Real Deal, Globe Street, and The Commercial Observer. He is a perennial Top New York City Investment Sales Broker named by the Real Estate Forum and the CoStar Group.


Affiliations

  • The Brooklyn Hospital Center (TBHC)
  • Brooklyn Academy of Music (BAM), Young Producers Alliance
  • Cristo Rey Brooklyn High School, Founding Board Member
  • Laugh It Out
  • Brooklyn Historical Society

Notable Recent Transactions

313 Gold Street, Brooklyn, NY 11201/$19,000,000 Development/Conversion Sites, Downtown Brooklyn, New York

 

204 Huntington Street, Brooklyn, NY 11231/$24,500,000 Apartment Buildings, Carroll Gardens, New York

 

109 Gold Street, Brooklyn, NY 11201/$14,500,000 Apartment Buildings, DUMBO, New York

 

139 Emerson Place, Brooklyn, NY 11205/$11,000,000 Apartment Buildings, Clinton Hill, New York

 

71-75 Greene Avenue, Brooklyn, NY/$4,000,000  Updated Price Special Use, Fort Greene, New York