by Richard W. Latella MAI, FRICS, Executive Managing Director, Americas Practice Group Leader, Retail, Valuation & Advisory
We’re recognizing the individuals within our Valuation & Advisory (V&A) group who have hit major anniversary milestones this year, by asking these veterans a few questions. After having been with the firm for 20 years or more, it’s interesting to hear about their experience, tenure, and what keeps them going. I had the chance to talk with Vincent Maniscalco, who has worked in the Cincinnati region for the last 30 years…
Our Valuation & Advisory group are recognizing individuals within our team who have hit major anniversary milestones this year, by asking our veterans a few questions. Vincent Maniscalco, who has been with the firm for 30 years answers a few questions about his experience and tenure while at Cushman & Wakefield.
You’ve now been with the firm 30 years and are now the Executive Director with a focus on retail related assets. What changes within the appraisal industry and/or your market have you seen since you began your career? Where do you think it is heading?
When I started, an appraiser’s greatest asset was the information they had gathered and that information was often closely guarded. But now with advances in technology, a wealth of information is readily available with a few simple clicks. As a result there has been a shift in emphasis from the procurement of information to analyzing the data.The production process has also evolved over the past 30 years. When I started appraisers would literally cut and paste documents together with scissors and tape for a secretary to retype. Photos were taped into the document and a map was a copy of a Hagstrom. From our initial templates, to Appraisal Builder and now Global Template Tools we have made dramatic strides in the way our reports are created and I am proud to have worked on the various committees that helped to create these tools.
How did you get your start in commercial real estate/why did you choose to go into the appraisal profession?
My father was a realtor and residential developer and I guess he passed on his passion for real estate to me. As a result I attended the University of Connecticut where I majored in Real Estate and Urban Economics.
What is it about Cushman & Wakefield that has helped you reach this anniversary/keep you here?
I initially started with Cushman & Wakefield as a summer intern in the Stamford office during my junior year of college. I returned to Cushman & Wakefield when I moved back to Connecticut to marry my wife and then later spent approximately 10 years in the New York office before once again returning to the Stamford office. During that time I have had the opportunity to work with some of the brightest minds in the industry who I am honored to call friends.
What was the most unusual assignment you’ve ever had or what has been the most memorable/your favorite?
One of the more unusual assignments I’ve had over the years was the Pier in Atlantic City which is a three-story enclosed retail center on a ground lease over a pier extending into the Atlantic Ocean. Another unusual assignment was American Dream, an enclosed mall, waterpark and amusement park.
One of the more memorable inspection I’ve done over the years was the Norwich Hospital, a turn of the century mental health facility on 100 acres. The facility had been closed and mostly abandoned for several decades and was reportedly haunted. Our inspection included subterranean passageways between buildings with only flash lights to guide our way.
When you’re not out appraising an asset or writing a report, what do you like to do?
I enjoy skiing, hiking, cycling, and boating as well as traveling with my family.
Cushman & Wakefield has been a leader in the New York Tri-State Region since the company’s founding in New York City in 1917. Today our regional presence includes 14 offices throughout New York, New Jersey, and Connecticut, with more than 450 brokers and sales professionals, and more than 1,300 total employees. In 2016 we completed more than 2,000 lease transactions and nearly 700 sale transactions. We managed 175 projects, engaged in nearly 5,000 valuation assignments, and managed more than 71 million square feet of property, making us the region’s top property manager.