NEW YORK CITY—Avison Young has hiredWilliam Picoli and JohnFarrell to expand the growing firm's valuationadvisory services platform.Both Picoli and Farrell join AvisonYoung as SVPs, based here, after serving at Landauer Valuation& Advisory, a division of Newmark Grubb Knight Frank.

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In their new roles, Picoli and Farrell will focus on businessdevelopment and providing a full range of valuation and advisoryservices to clients, including valuation for litigation andarbitration support, periodic valuations, portfolio analysis, andcost-segregation studies, as well as mergers and dissolutions.

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“Bill and John are among the most accomplished and highlyrespected valuation experts in the New York Metropolitan Area,”says Arthur Mirante, Avison Young principal and tri-statepresident. “Having managed some of the market's most high-profileand complex engagements, Bill and John bring with them anexceptional breadth of knowledge, experience and relationships, andwe look forward to the important contributions we know they willmake to furthering the growth of our valuation and advisoryservices platform.”

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With more than 25 years of experience in the real estatebusiness as an appraiser, consultant and expert witness, Picoli hasconsulted on and provided valuation services for over 1,500properties in 15 states. His areas of expertise include groundup development, co-op and condo conversions, financialfeasibility, variance appeals, development sites andtransferable development rights. He has extensive experiencewith all income-producing property types, as well as special-useproperties.

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Picoli's notable engagements include valuation of the GMBuilding in New York City; serving as an advisor to NYC Healthand Hospital Corporation in structuring and negotiating a groundlease and consulting on the Jean Nouvel-designed Torre VerreResidences, also known as the MoMA Expansion Tower.

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Picoli started at James Felt Realty Services, which eventuallymerged with Wm. A. White/Tishman East. Both firms were acquired byGrubb & Ellis Company, which later became Newmark Grubb KnightFrank, where Picoli was a senior managing director.

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“As a result of its principal-led structure, Avison Young isfully aligned with the objectives of its clients,” says Picoli,“and I am excited to leverage my network and experience to createnew avenues for business development on behalf of thefirm.”

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Farrell brings 11 years of experience in real estate valuationand consulting to his position at Avison Young. He specializes inlitigation and arbitration support in ground rent resets, officeand retail rental redeterminations, foreclosure actions,partnership dissolutions and lost profits damage cases. Hisexperience extends across fee land, leased land, and transferrabledevelopment rights; special-purpose properties; and all manner ofincome-producing properties.

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New York City landmarks for which Farrell has provided valuationand advisory services include the former World TradeCenter, Grand Central Terminal, South StreetSeaport, Rainbow Room, Lever House, One PennPlaza, Park 51 (Islamic Community Center site), BellevuePsychiatric Hospital, Battery Maritime Building, Four FreedomsPark (Roosevelt Island), One Chase Manhattan Plaza, andthe inclusionary housing certificates for the Nordstrom Tower.Farrell has also consulted for the NYC Dept. ofPlanning on Local Law 33 to revise New York City constructioncodes.

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Notes Farrell, “Avison Young has demonstrated its commitment tocreating an industry-leading valuation and advisory servicesplatform, and I see tremendous opportunity for further growth ofthis business line as we collaborate with our colleagues in the NewYork Metropolitan Area market and nationally.”

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Farrell previously worked as an associate with KTR beforebecoming a director at Grubb & Ellis and then managing directorat Landauer Valuation & Advisory, where he worked a combined 10years.

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Rayna Katz

Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.