JLL on Wednesday said it acquired New York City appraisal firm Metropolitan Valuation Services in a deal that will create one of the biggest valuation teams in the tri-state area.
The acquisition launches JLL’s plans to further grow its appraisal expertise as the economy, pandemic and war continue to impact the value of housing, office, self-storage, retail and industrial property.
The addition of 20 valuations professionals to JLL’s existing team of 10 creates an advisory powerhouse during a period of intensive pricing discovery. MVS’ core competency extends to multihousing, central business district and suburban office buildings, industrial/warehouse and shopping/retail properties, land, property transfers and market rent studies and appraisals for HUD Section 8 properties.
“MVS, a 20-year-old experienced tri-state team of highly seasoned professionals with a deep and intimate knowledge of New York, is well placed to empower clients with information and knowledge to help them make the best decisions for their real estate assets. Joining forces with MVS enables JLL to enhance our service for existing clients, strengthen our multihousing capabilities within this buoyant segment and scale our footprint across the U.S.,” Tony Lenamon, head of valuation advisory at JLL in the Americas, stated.
Executive Vice President Ross Friedman and the existing JLL NYC Tri-State team will join forces with MVS Executive Vice Presidents Peter Rastetter and David Lyon under the leadership of Steven Schleider.
“We have a unique and detailed understanding of the tri-state area and I’m excited by the opportunity to expand our capabilities to better serve our clients as part of JLL,” Schleider, president of Metropolitan Valuation Services, stated.
MVS was founded in 2003 by Schleider. Clients include major financial institutions, Fortune 500 corporations, real estate investment trusts, commercial real estate developers, investors, insurance companies, law firms, the city of New York and government agencies.
As the top investment market globally over the last decade and a Top 2 market for cross-border investment over this time period, New York remains a key gateway city for national portfolios and global capital. As economic conditions, mobility patterns, consumer spending and tourism are improving in New York, the market is increasingly solidifying its position as a leading global hub for talent and resilient market for investment.
