Broad Street Development Launches Paradigm Advisory Group

Broad Street Development LLC (BSD), a vertically integrated owner-operator, has launched a consulting arm, Paradigm Advisory Group, founded by BSD principals Raymond Chalme and Daniel Blanco.

Paradigm protects and enhances the value of distressed real estate assets on behalf of lenders, borrowers and special servicers. Paradigm’s team, with decades of construction, leasing, restructuring, conversion, property management and marketing experience, will stabilize and preserve the value of New York City assets. Paradigm provides value-added asset management, construction, property management and leasing in both the office and residential sectors.

“This year alone we expect to see $30 billion of loans maturing on office property in New York. Lenders in particular are realizing they quickly need a plan, especially in an era when values may be in doubt, rates are rising, and capital structures have grown more complex and involve multiple parties,” said Raymond Chalme. “Our role will be to guide our clients through the rapidly evolving market, advising on all aspects from financial restructuring to property operations to development execution.”

Paradigm’s clients will benefit from the hands-on expertise BSD has developed over the past 30 years, acting as owners, managers and developers, and the success they achieved working with many of the industry’s most prominent lenders and investment funds, including PBB, Cigna, MetLife, Barings, Prudential, Blackstone, Crow Holdings, RXR, Invesco and PCCP. BSD is recognized for working through challenging markets and have excelled in turning around struggling assets.

“In this market, it is more important than ever for owners to lean on those with experience. Our expertise with New York office and residential properties has been honed over 30 years and four real estate capital market cycles as owners and developers,” said Daniel Blanco.””We may not have seen it all —and nobody has seen anything quite like the current set of challenges — but we have seen a lot. The maturity we bring to every situation will distinguish Paradigm from others active in this space.”