Please join us for our first Breakfast Business Meeting

WEDNESDAY, MARCH 4, 2003featuring guest speakers...

Robert L. Freedman

Vice Chairman of the Board, President, Brokerage & Corporate Services

GVA Williams

as well as guest speaker

Steve WitkoffPresident

The Witkoff Group

Registration: 8:00amProgram: 8:15am – 10:15am

The Association of the Bar of the City of New York42 West 44th Street, New York, New York

$25/pp

2 HOURS OF CONTINUING EDUCATION HAVE BEEN APPLIEDFOR TO NEW YORK STATE AND THE APPRAISAL INSTITUTE

To Reserve: Please fill out the Events Coupon on the backpage of this newsletter, and mail back to the chapter officealong with your check.

2003 Metro NY Chapter Officers

PresidentJohn D. Busi, MAI

Cushman & Wakefield, Inc.51 W. 52nd Street

New York, NY 10019T: (212) 841-7792F: (212) 841-7849

E-mail: john_d_busi@cushwake.com

1st Vice PresidentDaniel F. Sciannameo, MAI

Albert Valuation Group NY, Inc.330 W. 38th St., Suite 611

New York, NY 10018T: (212) 490-1188 x206

F: (212) 687-4929E-mail: dsciannameo@avgny.com

2nd Vice PresidentMark F. Pomykacz, MAI

Federal Appraisal & Consulting LLC319 Mountain RoadLebanon, NJ 08833T: (908) 823-0607F: (908) 823-0575

E-mail: mark@federalappraisal.com

SecretaryMarilyn K. Weitzman, MAIThe Weitzman Group, Inc.

355 Lexington AvenueNew York, NY 10017T: (212) 949-4000 x21

F: (212) 949-0875E-mail: mweitzman@weitzmanusa.com

TreasurerJohn M. Pearson, MAIPearson Partners, Inc.

610 Fifth AvenueNew York, NY 10020

T: (212) 332-2750F: (212) 332-2755

E-mail: jpearson@pearsonre.com

InsidePresident’s Message ........................................2December 3rd Installation & Holiday Party .......22003 Chapter Initiatives ..................................3Education Calendar ........................................3Job Postings....................................................4

Volume 2, Number 1 January 2003The Metropolitan New York ChapterA P P R A I S A L I N S T I T U T E

Dear Members and Friends,

If you’ve been readingthe local papers oflate, then you’re

probably perplexedabout the integrity ofour chosen profession. I’m not. It’s agood, honest way to make a living andappraisers are among the hardestworking professionals in business today.Success is measured in the quality of thework produced, as well as the level ofout-put or production. We wear suitsand ties, skirts and dresses, but we workwith a “blue collar” sense of purpose. Inthe real estate profession, our work ethicis unparalleled.

We recognize that many of ourmembers are sole practitioners,partnerships and small to mid-sizecompanies. With an eye toward creatingsome external support structure andholding down the accompanying costburden, the Board and Officers of theMetro New York Chapter of theAppraisal Institute are putting into motionseveral newly conceived initiatives thatare an attempt to make life easier. Theseinitiatives are listed on page 3 of thisnewsletter and include: a ChapterHelpline, available to any chaptermember, associate or affiliate who seeksguidance with any appraisal problem; avery affordable and convenient programseries which we’ve dubbed our “MetroNew York Breakfast Series”; a brandnew “best in-class” education partner –The Newman Institute of Baruch College;and an exciting new look for our chapterweb-site (www.aimetrony.com).

Looking forward to seeing you atour first breakfast program in March.

John D. Busi, MAI2003 Chapter President

President’s Message December 3rd Installation & Holiday PartyThe Metro NY Chapter held its annual Installation of Officers and Holiday

party this past December, at the beautiful Tavern on the Green. Many of youjoined us for this special event.

The chapter would like to thank the following sponsors of this event:

Albert Valuation Group NY, Inc. • Appraisers and Planners Inc.Cushman & Wakefield, Inc. • Daniel P. Lane & Associates

Deutsche Bank • Houlihan & O’Malley Appraisal Co.Jerome Haims Realty, Inc. • Regional Appraisal Associates

At the Installation, The “Personof the Year” Award was presentedto Kenneth Wong, MAI, ofRegional Appraisal Associates byChapter President, John Busi.

Swearing in of New Officers

Newly Designated MembersCongratulations to the following new

MAI of the Metropolitan New YorkChapter:

David P. McArdle, MAI, of Cushman& Wakefield, Inc.

David was presented his MAIcertificate by Chapter President John Busi,MAI at the December 3rd Installation.

2002 President Ruth Agnese,MAI presenting Brian R. Corcoran,MAI with the Louise Lee and Y.T.Lum Award.

2003 Chapter Initiatives

I. Chapter HelplineWhen John Busi spoke to chapter member and course

instructor, Paula Konikoff, about this idea she said “our solepractitioner members are taking the courses and doing the bestthey can with what they’ve been given, but without a mentor orinfrastructure, they’re not getting the help they need”.

What is evident in some of the published stories recently isthat the scope of the assignment presented as “black andwhite” by the client, when reconstructed “after the fact”, madethe appraisers feel “black and blue”. We have solicited thehelp and support of chapter members Richard Marchitelli andDavid Scribner to assist in counseling any member who isconfronted with an appraisal conundrum and needsguidance. Richard has generously volunteered to act as theinitial contact to any Appraisal Institute member, affiliate orassociate who calls with an issue or problem, and utilize theinfrastructure we’ve created to help any appraiser in need.

Richard Marchitelli can be reached at 646-471-2680 orvia e-mail at richard.marchitelli@us.pwcglobal.com.

Chapter President, John Busi is available at 212-841-7792or via e-mail at john_busi@cushwake.com.

II. Breakfast SeriesUnder the energetic oversight of our new Program

Chairperson, Joel Leitner, we are unveiling a new series withthe express intent of helping you keep in step with the rapidlychanging area market conditions.

We have solicited the help of New York City’s premier office,retail and residential brokerages in hosting a series of 2 hourbreakfast meetings to be held at the Association of the BarBuilding on West 44th Street between Fifth and Sixth Avenues.Leasing brokers will provide you with an update and overview ofmarket conditions and sales brokers and/or principals willdiscuss sales activity in their market segment. We will submit eachprogram for New York State and AI credits. The seminars will beoffered for $25.00. Our first seminar is scheduled for Tuesday,March 4th at 8:15 AM and will feature Robert Freedman, GVAWilliams and Steve Witkoff, The Witkoff Group.

The breakfast series will be supplemented by twoextraordinary programs. On May 16th, we will host amorning program constructed around the Economic Future ofNew York City featuring Deputy Mayor, Dan Doctoroff. Weare also close to securing the featured speaker and panelistsfor our outstanding annual September Conference on theState of the New York Market.

III. Education Affiliation with The NewmanInstitute of Baruch College

Our new Education Chairperson Steve Schleider’sinstantaneous response to his appointment was to partnerwith the prestigious Newman Institute of BaruchCollege/CUNY. Our new education partner is as excited byaffiliating with the Appraisal Institute as we are committed tooffering our members the best education platform available.

The Metro NY Chapter has formed a new affiliation withBaruch College to offer courses jointly at The NewmanInstitute at Baruch College, 137 E. 22nd Street, NY, NY. Ifyou would like to register for any of the courses listedbelow, please contact (212) 802-5600.

Spring 2003

Course 110 (R1); Appraisal PrinciplesDates: March 17 through April 16

(Monday & Wednesdays)Time: 5:45pm – 9:20pmCost: $49510 sessions long (3 hr. exam on 4/16)Instructors: John M. Pearson, MAI

Wayne Nygard, MAI

Course 410; Standards of Professional Practice Part “A”Dates: March 29 & 30Time: 9am – 5:45pmCost: $2951hr. exam on 3/30Instructor: Richard Marchitelli, MAI

Course AQ1; Fair Housing, Fair LendingDates: April 12 & 13Time: 9am – 5:45pmCost: $2951hr. exam on 4/13Instructor: TBA

Course 120 (R2); Appraisal ProceduresDates: April 21 through May 21

(Monday & Wednesdays)Time: 5:45pm – 9:20pmCost: $49510 sessions long (3hr. exam on 5/21)Instructors: Fred A. DePascale, SRPA

TBA

Education Calendar

We will be offering a full course series and certificateprogram in 2003 at The Newman Institute at BaruchCollege/CUNY at 137 East 22nd Street.

IV. Web-Site Overhaul

At our last board meeting, the Board approved a motion tooverhaul our existing web-site www.aimetrony.com. One of ournew Board members, Cate Agnew, will collaborate with ourChapter Secretary, Connie Puccio, and an outside contractor tocreate a user friendly, comprehensive web-site that will becomea useful tool for all chapter members, associates and affiliates.The newest feature of our web-site will be a quarterly postingof market reports provided by New York City’s premierbrokerages. The first posting will occur in March 2003. Pleasecontinue to visit our web-site for information on upcomingevents, course information and job opportunities.

60 East 42nd StreetSuite 1166New York, NY 10165

FIRST CLASS MAILU.S.POSTAGE

PAIDNEW YORK, NY

PERMIT NO.4987

Job Postings

Uniondale, New York - Washington Mutual has agreat opportunity for a Commercial Review Appraiser and aCommercial Production Appraiser. The ideal candidate willhave 4 to 5+ years of professional experience and beresponsible for either producing or reviewing multi-familyincome property appraisals. A certified Real EstateAppraisal License is required.

Apply to: milisa.whalen@wamu.net, or fax 206-490-5660.

New York, New York – Cushman & Wakefield has agreat opportunity for a Commercial Production Appraiser. Theideal candidate will have commercial appraising experiencein multi-family/income producing properties. Please sendresume to: matthew_mondanile@cushwake.com , or fax to212-841-7849.

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Return to: Metro NY Chapter of the Appraisal Institute and mail to60 E. 42nd St., Suite 1166, NY, NY 10165. Phone (866) 966-3710.

Breakfast Business MeetingWednesday, March 4, 2003 8:15am–10:15am

The Association of the Bar of the City of New York

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Mayor Koch Photos

We invite those attendees of our 2002September Conference to the web-sitewww.stevefriedmanphoto.com to orderprints directly through this site. Once thesite is up, click on Events & Assignments,then click on Appraisal Institute event.