NEW YORK CITY-"Maybe it's about adjusting expectations," Neil Rubler, CEO of Vantage Properties, told an audience of the Young Jewish Professionals Real Estate Council on Wednesday evening. Rubler (at far right) and his fellow panelists, all veterans of multifamily and the other commercial sectors, counseled patience, diligence and resourcefulness. "You need to look at what advantages you can get for your project," said David Blumenfeld (second from right), VP of Blumenfeld Development Group, whose company saw the East River Plaza retail development through to completion over a 15-year haul. Low interest rates and tax credits worked in the project's favor despite rent levels being challenged by the current market. Joining Rubler and Blumenfeld in the well-attended discussion were Henry Justin (at left), CEO of HJ Development, and Miki 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 members for their accomplishments over the past year. They included: Sigmund Rolat, honofred with the Philanthropy Award; Jason Halpern of JMH Development, recipient of the Creative Development Award; United American Land's Albert, Jason and Jody Laboz, who received the Real Estate Entrepreneur Award; Mark Seelig of Eagle Rock Management, given the Multifamily Entrepreneur Award; and Cathy Taub of Stribling, who received the Real Estate Deal-Maker Award.