NEW YORK CITY-"Maybe it's about adjusting expectations," NeilRubler, CEO of Vantage Properties, told an audience of the YoungJewish Professionals Real Estate Council on Wednesday evening.Rubler (at far right) and his fellow panelists, all veterans ofmultifamily and the other commercial sectors, counseled patience,diligence and resourcefulness. "You need to look at what advantagesyou can get for your project," said David Blumenfeld (second fromright), VP of Blumenfeld Development Group, whose company saw theEast River Plaza retail development through to completion over a15-year haul. Low interest rates and tax credits worked in theproject's favor despite rent levels being challenged by the currentmarket. Joining Rubler and Blumenfeld in the well-attendeddiscussion were Henry Justin (at left), CEO of HJ Development, andMiki Naftali (second from left), president/CEO of El-Ad Properties.Ivan Kaufman, CEO of Arbor Realty Trust, moderated.

Prior to the panel discussion, YJP recognized industry membersfor their accomplishments over the past year. They included:Sigmund Rolat, honofred with the Philanthropy Award; Jason Halpernof JMH Development, recipient of the Creative Development Award;United American Land's Albert, Jason and Jody Laboz, who receivedthe Real Estate Entrepreneur Award; Mark Seelig of Eagle RockManagement, given the Multifamily Entrepreneur Award; and CathyTaub of Stribling, who received the Real Estate Deal-MakerAward.