Capital Allocators – Inside the Institutional Investment Industry Ted Martell – Empty Rooms: Commercial Real Estate Non-Performing Loans in NYC at Maverick Real Estate (EP.349)
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Nov 9, 2023 Ted Martell, Co-founder of Maverick Real Estate Partners, dives into the world of non-performing loans (NPLs) in NYC’s commercial real estate market. He discusses how a mix of data science and negotiation skills allows investors to seize overlooked opportunities. Ted shares his transition from construction management to real estate, revealing the importance of relationships in acquiring distressed assets. He highlights emerging trends post-COVID-19 and the advantages smaller firms have in this ever-evolving landscape.
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Balancing Music and Athletics
- Ted Martell grew up in a musical family, juggling practice with athletics.
- This instilled discipline and teamwork, influencing his career at Maverick Real Estate.
Path to Real Estate
- After Princeton and construction, Ted pursued real estate development, seeking a creative outlet.
- He met his business partner, David Aviram, in business school, bonding over entrepreneurial ideas.
Maverick's Beginnings
- During the 2008 financial crisis, Ted and David started Maverick, focusing on non-performing loans.
- Their first break involved a well-secured loan in Williamsburg, leading to quick profits and a shift towards data-driven sourcing.