Ronald A. Solarz joined Newmark in 2018 and co-heads the company’s new Private Client Group. One of New York City’s most respected and successful investment sales brokers, Mr. Solarz has arranged more than $10 billion in investment property sales for institutional investors, hedge funds and private investors in neighborhoods throughout New York City. Mr. Solarz has extensive experience successfully marketing all asset classes, including development sites and assemblages, multifamily, retail, office and mixed use. He is also highly experienced in mezzanine and equity placement.
Prior to Newmark, Mr. Solarz worked for 22 years at Eastern Consolidated, which had been one of the New York City area’s largest investment sales brokerage firms. From 2011 to 2014, he was a managing partner at Brookfield Financial.
Mr. Solarz has exclusively represented some of the best-known real estate investors, including Cape Advisors, Dermot Companies, Plaxall, Silvercup Properties, SL Green, Sterling Equities, Toll Brothers, Vornado and Westbrook Partners.
Currently, Mr. Solarz in the process of placing about $28 million in opportunity zone equity from Starwood to AB Capstone, to be used in constructing a mixed-use building at 425 Westchester Avenue in the South Bronx. Newmark is also placing the $51 million construction debt to build the 10-story building, which will include a 148,000-square-foot Class A office building that will be anchored by ZETA Charter School and the JCCA. The space will contain 10,000 square feet of prime retail space. The deal is projected to close in mid- to late April.
An expert in development transactions, Mr. Solarz has completed the sale of more than 100 development sites since the start of his career. These include 35-85 Greystone Avenue in the Riverdale neighborhood, in which Mr. Solarz served as the exclusive agent. He fulfilled the same role on behalf of the Dermot Companies in the sale of 1 Hanson Place, located in Brooklyn’s Fort Greene neighborhood. The property, 40,000-square-foot office condominium, is part of a large mixed-use building also containing residential condominiums and retail.
In Manhattan, Mr. Solarz has successfully completed development site deals for a 400,000-square-foot zoning floor area at 160 West 62nd Street; a 270,000-square-foot zoning floor area at 302-306 Third Avenue; a 250,000-square-foot zoning floor area at 310 West 52nd Street; and a 200,000-square-foot zoning floor area for residential development at 170 Amsterdam Avenue, leased for 99 years. He was also part of a team that sold an assemblage with a 170,000-square-foot development site at 30 East 29th Street.
Mr. Solarz has concluded transactions for a large number of buildings with multifamily space, including mixed-use properties. In the Bronx neighborhood of Mott Haven, he was part of the team that successfully represented Lightstone Development in its sale of 2505 Bruckner Boulevard. In Queens, he played an integral role in ABRO’s sale of 31-46 and 31-48 Steinway Street to TF Cornerstone. The buildings are occupied by FedEx/Kinko’s and the Gap and several residential tenants. Other multifamily transactions completed by Mr. Solarz include:
- 240 East 27th Street in Kips Bay, a 27-story, 324-unit, 348,386 SF luxury multifamily building, sold for $210 million
- Washington Heights Portfolio, containing nine mixed-use elevator apartment buildings with 413 apartments and 48 retail stores, sold for $165 million
- Devonshire House at 28 East 10th Street in Greenwich Village, a 15-story luxury apartment building with 134 units, sold for $110 million
- 600 Washington Street in Greenwich Village, a 100,000 SF building with 135 apartments and four retail stores, sold for $75 million
- 420 East 80th Street on the Upper East Side, a 137,000 SF luxury apartment building with 155 units, sold for $62 million
- Decathlon Portfolio, 10 Upper Manhattan multifamily buildings with 474 units at 248 Sherman Avenue; 72 Vermilyea Avenue; 9 Thayer Street; 38 Sickles Street; 90 Ellwood Street; 552 West 188th Street; 556 West 188th Street; 566 West 190th Street; 570 West 190th Street; and 961 St. Nicholas Avenue, sold for $49 million
Partial List of Office Transactions
- 375 Pearl Street: represented one of the buyers, Youngwoo & Associates
- 180 Madison Avenue: exclusively represented SL Green
- 110 Fifth Avenue: sold to Samson Management and Rabina Properties
- 636 Avenue of the Americas: exclusively represented the Kaufman Organization
- 22-24 West 38th Street: sold to Dalan Management
Partial List of Retail Transactions
- 959 First Avenue (retail condominium): exclusive client - Toll Brothers
- 211 Columbus Avenue (retail property): exclusive client - Vornado
- 122 Spring Street (retail cooperative): exclusive client - Vornado
- 131-137 Spring Street: exclusive
- 40-42 Thompson Street (office and retail): exclusive - sold to Vornado
- 28 East 10th Street (retail condominium): exclusive - sold for Sterling Equities to the Brodsky Organization and Michael Field
- 456 West 19th Street: exclusive - seller Oaktree Capital Management and Tamarkin Co.; sold to Quinlan (retail condo)
- Broker of the Year, Eastern Consolidated, 2003, 2006 and 2010
- Top 50 Deal Maker, Real Estate Weekly, 2005 and 2009
- Five-time CoStar Power Broker
- Commercial Broker All Star, Real Estate Weekly
- Member, Real Estate Board of New York (REBNY)
Mr. Solarz graduated summa cum laude from the State University of New York at Buffalo School of Management, where he earned a Bachelor of Science degree in business administration.