by Robert S. Nardella, MAI, MRICS, Executive Managing Director / Tri-State Area Leader, 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 Dave McArdle, who has worked in our Tri-State region for the last 25 years…
You’ve now been with the firm 25 years and are now the Senior Managing Director and National Practice Leader of both the Gas Station/Convenience Store and Restaurant Practice Groups. 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?
Without a doubt the biggest change is the technology advancement and the information now available on the internet. Subscription services like CoStar now equip our industry with massive databases that make the job very different. The days of exchanging calls with your competitors to share comp data are long gone. The flipside to that is fees have remained flat and turnaround times have shrunk. I think we’re headed for even more automation as things like technology continues to help evolve the appraisal process.. In the end though, our clients will still need personal real estate opinions that come from experienced appraisers.
How did you get your start in commercial real estate/why did you choose to go into the appraisal profession?
I started as a residential broker on Long Island and then shifted to residential construction. Both gave me an excellent real estate experience but produced unsteady income. After marriage and kids on the way I gravitated to the appraisal industry as it offered a much more stable income. Working in two small fee shops on Long Island was nice but the allure of New York City and working for the iconic Cushman & Wakefield brand led to my decision to move 25 years ago.
What is it about Cushman & Wakefield that has helped you reach this anniversary/keep you here?
From day one I met supportive colleagues that took their job seriously but also had some fun doing so. No appraisal challenge has ever been too large for our appraisal group and it always feels great to know we are at the very top of the industry. Our appraisal department has given me the opportunity to essentially run my own business while offering unparalleled support and branding of Cushman & Wakefield. That has been a great combination for me over the years.
What was the most unusual assignment you’ve ever had or what has been the most memorable/your favorite?
While my colleagues would probably expect me to cite a full 18-hole golf course “appraisal
inspection,” I have always found aspects of industrial inspections fascinating. Appraising the Steinway Piano factory in Astoria Queens many years ago was one of my most memorable assignments. Seeing how they slowly bend the wood to shape a baby
grand piano was pretty cool.
How do you plan to spend your next 5-10 years at Cushman & Wakefield?
I would like to spend my next 5 to 10 years at Cushman & Wakefield continuing to work, mostly, on special purpose properties as I have been doing for the past 15 years. Perhaps there may also be some mentoring in my future as I find it to be very rewarding.
When you’re not out appraising an asset or writing a report, what do you like to do?
I’ve always believed it’s better to be good at a few things than average at many. When I am not appraising, I enjoy spending time with my family which now includes two grandsons. Next, it’s no secret that I have a passion for golf and that is my primary recreational activity in both New York and Florida.
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.