Marc R. Shapiro, MAI, MRICS, an executive vice president with Newmark Knight Frank’s Valuation & Advisory Financial Reporting Group, is based in the firm’s Whippany, New Jersey, office. Mr. Shapiro brings to his position more than 25 years of experience in all aspects of commercial and residential real estate valuation and analysis. Over the course of his career, he has successfully served a wide range of clients, including federal and agencies, municipalities, financial institutions, insurance companies, REITs, corporations, public utilities and individuals. As a regional leader, Mr. Shapiro is focused on ensuring that the group works to meet the requirements of our clients as prescribed by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB). By employing the NKF V&A platform in close alignment with NKF Capital Markets, Mr. Shapiro brings the necessary knowledge and resources to effectively navigate complex financial, accounting, tax, regulatory and legal issues.
Mr. Shapiro’s expertise extends to all commercial and residential property types, including office, industrial, retail, lodging, multifamily (high-rises, garden apartments and condominiums), rights-of-way and special-purpose (self-storage facilities, service stations, waterfront properties and lab facilities). He has performed valuations for both individual properties and portfolios, and his work has been used in marketability and feasibility studies, financial reporting, fair market value analysis, litigation support, pre-trial analysis and counseling, negotiations and settlement conferences.
Mr. Shapiro has also assisted public and private clients in the application of Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 805 Business Combinations. In this capacity, he has assisted clients in identifying and measuring both tangible and intangible components of real property at fair value, under the rules prescribed in FASB ASC Topic 820 Fair Value Measurements.
Additionally, Mr. Shapiro has advised public and private clients in assessing the fair value of acquired real estate in conjunction with goodwill impairment, acquisitions and bankruptcy financial reporting requirements. He has also valued joint venture partial interests in support of tax filings for minority interest in family trusts and family limited partnerships. Lastly, Mr. Shapiro’s experience includes buy-side advisory and related due diligence work for publicly and privately held companies, audit support related to fair value issues and model valuation, fair value analyses of commercial real estate loan debt, historical analyses of financial statements and budgets, market studies, lease-by-lease analyses of multiple tenant real estate and discounted cash flow analyses.
Although Mr. Shapiro has concentrated most of his practice on the U.S., he has provided services, including real estate valuations and consultations, to clients in England, France, Germany, Italy, India and Japan.
Mr. Shapiro joined Newmark Knight Frank in 2018, after more than 10 years with FTI Consulting, a global business advisory firm. As a managing director in the firm’s Roseland, New Jersey office, Mr. Shapiro led the firm’s real estate valuation practice. In 2015, he was also appointed a co-leader of FTI’s cost segregation practice, which advises clients on how to maximize the benefits of the Modified Accelerated Cost Recovery System (MACRS), the current system for calculating deductions for depreciation under the U.S. tax code.
Prior to joining FTI Consulting, Mr. Shapiro was a director in the Valuation & Advisory group of Cushman & Wakefield for five years and served as a vice president with Albert Valuation Group, Inc. in New York for 12 years.
Licenses and Designations
- MAI designated member, Appraisal Institute
- Member, Royal Institutions of Chartered Surveyors (MRICS)
- Certified general real estate appraiser (SCGREA), states of New York and New Jersey
Mr. Shapiro earned a Bachelor of Arts degree in economics from Rutgers University.