Paradigm provides value-added asset management, construction, property management, and leasing in the office and residential sectors.
Over 30 years of hands-on knowledge and expertise across all property types, risk spectrums, and asset life cycles.
Our roots as a vertically integrated owner, manager, and developer of commercial and residential real estate give us a deep level of proficiency in navigating periods of dislocation and challenged business plans.
With the recent weakness in the capital stacks of most office buildings due to COVID-19, work from home trends, and interest rate fluctuations, all lenders need a lender representative.
Paradigm is here to help.
Our Thesis
Our expertise with New York office and residential property has been honed over 30 years.
Every project and every portfolio is unique. Paradigm is designed to make each shine.
We take a bespoke approach for each asset, developing strategies and efficiencies at the property level and in the capital markets to weather current macro- and micro-economic market conditions. Our high-touch and laser-like approach assists lenders, sponsors, general and subcontractors, and other CRE professionals in stabilizing assets in a challenging marketplace. With a time-tested understanding of how to stabilize assets in a challenging marketplace and communicate with various constituencies, we bring a high-touch and laser-like approach to assist lenders, sponsors, general and subcontractors and other CRE professionals.
Our Expertise
We’ve been around the block, through 4 real estate and capital markets crisis cycles:
1990
Savings and loan crisis
2001
Dot com bust
2009
Great Recession
2020
Pandemic, inflation, and subsequent interest rate boom
We have an owner’s perspective
We enter the engagement as if we owned it ourselves and that calibrates all our actions; our drive is to make it successful.
We understand adaptive reuse
We are fluent in office and multifamily management, residential conversions, ground up development, industrial, life science, and cloud computing farms.
Being able to handle every aspect
We handle every aspect, from high level financing, all the way down to on site operations and leasing. Our clients get the benefits of no operational silos, receiving direct instruction from the experts.
Our thorough evaluation process
Our evaluation includes a review of the highest and best use for the asset, and if the invested parties can achieve stabilization given the current capital structure, and status of the property.
Hands-on expertise
Clients will benefit from the expertise that Broad Street Developments founders have developed over the past 30 years, acting as owners, managers and developers, and the proven success they achieved with many of the industry's most prominent lenders and investment funds.
Broad Street Development is recognized for working through challenging markets and have excelled in turning around struggling assets.
How Did We Get Here?
Many markets have a combination of declining occupancy, an oversupply of older office buildings and higher interest rates. And a wave of refinancing activity is hitting the sector at the same time credit availability is tightening.
Declining Occupancy
Hybrid work has not only required building owners and occupants to reconfigure space, but it has also reduced demand for office properties. For example, if a company plans to have only half its workers in the office each day, it needs a notably smaller office space. The vacancies created have led to lower effective rents.
Rising Interest Rates
Rising interest rates have clouded office valuations and disrupted capital markets, with interest rates stabilizing meaningfully higher than the past 15-year average, rents would need to increase to avoid significant destruction of asset value.
More Refinancing Activity
Nearly $1.5 trillion of commercial real estate debt in the u.s. is due for repayment before the end of 2025. Plus, small and regional banks-commercial real estate's biggest source of credit in 2022-have seen increased outflows, which could limit their financing capabilities.