Consulting Firm Founder
Alex Getelman holds a certificate from a masters real estate program as well as a degree from New York University. He is the founder of Milestone Building Ventures, a consulting firm working with notable construction and real estate companies throughout New York City. Alex Getelman leads the conceptual development phase of his firm’s projects.
Along with the organization, scheduling, and implementation processes, Mr. Getelman works to improve the firm’s management utilizing new methods and technologies. He also develops effective, communicative relationships with contractors and clients. Since the founding of Milestone Building Ventures, Mr. Getelman has procured a team of industry professionals with extensive experience and noteworthy networks.
Outside of work, Mr. Getelman supports several charities including the Children’s Medical Fund of New York, St. Francis Food Pantries, a children’s preschool program called Open Door, and the Mount Sinai Adolescent Health Center Run for Teens. He enjoys meditating, running marathons, and watching TED Talks.
New York Real Estate Market Growth Starting to Cool
The founder of Milestone Building Ventures, a project management and consulting firm in New York, Alex Getelman handles general business operations and the supervision of a professional team. To ensure he stays abreast of changes in the field, Alex Getelman follows real estate industry forecasts and markets.
According to recent reports about the first quarter of 2016, the real estate markets in New York are starting to cool. Prices are not rising as quickly as they were, and in some areas of the market, prices are starting to drop.
Over the past year, growth in the New York area has reached only around 3.8 percent. While there is some growth, it is the lowest amount seen in the area since 2012. Even in Brooklyn, which saw 7.1 percent growth, the increase is lower than it has been in recent years.
Many experts believe this slowing in real estate growth is related to macroeconomic trends, such as the continued strength of the US dollar against the British pound and Chinese yuan. This has likely kept some foreign investors from investing in the New York real estate market.
However, the cooldown may also be the result of more disciplined pricing strategies seen from sellers, particularly in the Brooklyn and Manhattan areas. This has reduced the rate and size of price cuts on various properties.
Despite this cooling period, the New York real estate market is still far from crashing. Certain neighborhoods, such as the Upper West Side and Upper Manhattan, have maintained continual growth into 2016. Further, long-term real estate investments are still strong in the area despite the current volatility of the stock market and dropping real estate prices.
Steps to Successful Construction Contract Negotiations
After receiving a Certificate in Masters Real Estate, Alex Getelman began a career in real estate and construction management. Today, Alex Getelman leads contract negotiations for his project management and consulting firm.
Negotiating a successful contract in construction is a complex process. Often, these contracts include subcontracts stipulating important project details. These minute details can be overlooked if contractors fail to follow these steps:
1. Review bid and complete plans - When the firm has won the bid for a construction project, the first thing it must do is to have the bookkeeper review the figures. Project specifications on all documents--from architectural plans to plumbing--must also be reviewed prior to approval.
2. Visit the jobsite - The contract ideally includes all project details, but a visit to the jobsite can verify conditions and logistic concerns that may not be stipulated on paper.
3. Verify project funding - Contractors and subcontractors should be made aware of the client’s source of funds and contingencies. This will ensure project continuity and profit.
Run For Teens - Supporting the Mount Sinai Adolescent Health Center
Milestone Building Ventures founder Alex Getelman leads his firm in advising some of New York's leading construction and real estate companies. Alex Getelman balances his professional obligations with his keen interest in charity and supports the Mount Sinai Adolescent Health Center through participation in an annual marathon.
In New York, the Mount Sinai Adolescent Health Center offers free comprehensive health services for young people. Open to individuals of all backgrounds, the center is devoted to compassionate, confidential healthcare for those who need it most.
Each year, the health center participates in the New York City Marathon (sponsored by Tata Consultancy Services) to raise funds for its programs and services. Athletically inclined supporters can join the Run for Teens marathon team, allowing them to raise funds as they run. Each team member generates more than $3,500 for the center through donations and pledges, and every $1,000 of that money funds a full year of healthcare for one young person.
Big Changes in New York City's Office Leasing Sector
As the founder and head of Milestone Building Ventures in New York, Alex Getelman has been a consultant on many notable projects in the city. A veteran of the construction and real estate industries, Alex Getelman carefully follows commercial real estate trends in and around the city of New York.
In 2016, real estate market analysts have observed a dramatic shift in New York's office leasing activity. Manhattan's office leasing activity is down significantly, with about 2.4 million fewer square feet leased than in 2015. Some industry experts blame the British exit from the European Union and other international economic matters for the slowdown, saying corporations are slow to commit to a Manhattan office in the current climate.
Commercial leasing fell even further in the Midtown South area, where a 40 percent decline has not stopped rents from climbing an average 14 dollars per square foot. While some large tech companies, notably Facebook and AOL, are expanding in the area, the commercial leasing market continues to slow.
Downtown Brooklyn, on the other hand, is booming. The borough has almost no vacancy for office tenants, and only five major office construction projects began during the year. Some stakeholders predict an influx of mixed-use building projects in downtown Brooklyn soon to meet the demand for office space.
Turner Syndrome Foundation Combats Late Diagnoses
Milestone Building Ventures' founder Alex Getelman and his team of industry veterans provide guidance to developers and construction firms in New York. Outside of his work in real estate, Alex Getelman supports several charitable organizations, including the Turner Syndrome Foundation, which works to raise awareness and support research to improve outcomes for women with Turner Syndrome.
Also known as gonadal dysgenesis, Turner Syndrome is a genetic disorder that impacts approximately one in every 2,000 women. Rather than possessing two X chromosomes, women with Turner Syndrome may have only one X chromosome or an incomplete second chromosome.
This can lead to renal, endocrine, and cardiac problems, as well as potential learning difficulties. Early detection is key, with effects of the condition mitigated when girls are diagnosed early.
To combat delays in diagnosis, the Turner Syndrome Foundation and other advocates observe Turner Syndrome awareness month each February, operating campaigns and helping spread the word about the chromosomal disorder.
BIM Enhances Project Efficiency and Accuracy
As the head of Milestone Building Ventures, Alex Getelman pursues construction projects with exceptional profit potential across New York City. Active in his field, Alex Getelman has a strong interest in innovative construction methodologies and maintains affiliation with BIM Experts.
Introduced in the early 2000s, building information modeling (BIM) takes advantage of computer-aided design technologies to provide building specifications that were previously generated through technical drawing and architectural designs. The virtual model goes beyond primary geometric spatial dimensions to include elements such as light analysis, geographic information, and spatial relationships. BIM often incorporates cost estimates, materials tracking, and scheduling of various project elements.
One advantage to this approach is that changes to one element of production transfer to all other aspects of the project in real time. This enables changes to be quickly implemented and accurately understood by all participants and expedites project management processes.
Mount Sinai Fundraises for Adolescent Health Care
The founder of Milestone Building Ventures, Alex Getelman is responsible for the oversight of a team that develops real estate and construction projects in New York City. Outside of his professional life, Alex Getelman supports several New York-based nonprofit organizations and events, including the Mount Sinai Adolescent Health Center Run for Teens.
The Mount Sinai Adolescent Health Center Run for Teens is an annual event that began in 2009. Occurring as a part of the TCS New York City Marathon, individuals who participate in the Run for Teens complete the 26.2-mile course throughout the city in an effort to raise funding for free primary care services for adolescents. For every $1,000 that participants raise, the center is able to provide an adolescent in need between the ages of 10 and 24 with a year’s worth of healthcare services.
Every year, the Mount Sinai Adolescent Health Center serves 10,000 at-risk young people in the East Harlem community of New York City, providing them with primary care, dental and optometric care, counseling, reproductive health care, and health education classes at little to no cost.
Business Relationship Management Skills You Need
As part of his work at Milestone Building Ventures, Alex Getelman drives client growth by facilitating new business relationships. Alex Getelman also must manage these relationships effectively to ensure they serve their purposes. The following skills are crucial for managing business relationships.
Be authentic, and offer complete transparency to others. Building trust takes time, and broken promises or dishonesty quickly damage relationships that you work hard to develop. Being honest will allow for the development of mutual respect and will encourage your connections to act the same toward you.
Own up to your mistakes. Most people understand that nobody is perfect, and by taking responsibility for your errors, you demonstrate that you are capable of learning from them.
Finally, focus on the personal aspect of the relationships as much as the professional. Showing that you care personally about the people you form business relationships with can go a long way toward building trust. Listen and remember important details for future conversations.