Known for an unparalleled ability to navigate both sides of a transaction, Amy Pearl attributes her real estate industry success to a rare combination of curiosity, intuition, and discernment. Amy, who chose a career in real estate due to her love of travel, exploring New York City and its architecture, and discovering the next emerging neighborhoods, possesses an innate ability to identify advantageous development opportunities.
Prior to joining Silverback, Amy served as acquisitions associate, where she handled both acquisitions and investments for best-in-class, mixed-use residential and retail properties. A graduate of the University of Miami, she earned her MBA at New York University Stern School of Business, and received a master’s degree from Columbia University. She is a member of ULI Young Leaders, UJA Federation, and YJP.
How long have you been in the business?
I’ve been working in this business in New York for over four years now, but have been exposed to the real estate industry my entire life.
What made you decide to get into real estate?
What makes me passionate about this industry is that no two projects or buildings are the same, which makes every day different and exciting. The analytic component is something that I’ve always gravitated towards, however, what I realized is that there are so many touch points, even on the acquisition and finance side, that heavily rely on creativity. It’s a really incredible coupling that constantly pushes you to think differently and stay ahead. The constant evolution of real estate is motivating for me. There’s also a methodical component to development; I love seeing a project from inception to completion and tracking its progress. Development is all about action and problem solving, two things I have always enjoyed doing. It’s a dynamic industry that I love being a part of.
Who inspires you?
Professionally, Josh Schuster has been an inspiration throughout my career and is an incredible mentor. His approach is inspiring, and he’s taught me how to evolve in an industry that is constantly changing. Personally, my parents have been my greatest inspiration. My dad immigrated to the U.S. and together, with my mom, they have built their business from the ground up. They are extremely hard working, dedicated, and compassionate people who strive to be better every day.
What is the most impactful deal to date you have worked on?
That would have to be a project we’re currently working on now in the Gramercy neighborhood of Manhattan. It has been a journey professionally and personally and I think has made me look at real estate in such a different light than before. Every deal has its specificity and intricacies, but this one taught me more about being nimble and adaptable than any other. It’s no surprise to anyone right now that the capital markets landscape is changing, but we’ve been staying ahead of it.
What are some of the hottest submarkets you’re seeing right now?
Within New York, I think we’re still seeing a lot of Brooklyn expansion and uptick that is incredible. Outside of New York, I think Seattle and Charlotte are really hot submarkets that will continue to thrive.
What area do you anticipate having the biggest growth in 2018?
I think that transitional suburban to urban neighborhoods and areas will experience the most growth throughout the country. There are two major populations that are important yet underserved right now, the first being baby boomers who are looking to downsize or move into an apartment/condo that is focused on services. The second group is the 28-35 age group who is looking for more space as they grow their families. Both of these groups want accessibility to the city, but are more price conscious, so I think we’ll see a stronger demand in the areas surrounding urban centers.
Is there a “best season” for deals? If so, when is it?
I wouldn’t say there’s a “best season” for deals. We definitely make it happen and close deals year-round. It’s all about motivation and drive.
If you had to work in a city other than New York, which would it be?
Tel Aviv. I think Israel’s infrastructure can really be improved, yet it’s such a vivacious city with strong growth industries. They are also leaders in STEM, which will continue to grow exponentially in the coming years.
What is your favorite New York neighborhood, and why?
I’m partial to downtown and love the vibe below 14th Street. One of my favorites would have to be The Village and Bowery neighborhoods. They’re constantly evolving; achieving the impossible by staying relevant yet always embodying the grit of New York.
What’s the best piece of advice you would give to someone starting in the business?
The greatest thing about this business is that it is both an influencer and a follower. Real estate draws inspiration and understanding from other industries because it will either be affected, or will affect it. It is important to keep a macro look without losing sight of the importance of the details.
Amy Pearl
Vice President, Silverback Development
40 W 57th Street, 29th Fl
New York, NY 10019
646-205-6350
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