Episode 66: NYC Rentals Part II WIth Compass Senior Managing Director Dan Marrello, Ex-Town Residential Manager, Ex-Citi Habitats Manager

A great pleasure to have one of Compass Senior Managing Directors Dan Marrello on the Real Takk Pod. I first met Dan at Town Residential, at the time one of the fastest growing brokerages in the NYC real estate world. I was recruited around 2010 and met Dan around 2012. Prior to Town, Dan was a manager at Citi Habitats for almost 10 years. At present day, Dan helps & oversees several dozen agents & teams that up the Compass NYC offices.

Dan comes onto the pod discussing the state of the NYC rental market, the history of the rental market, why the market is broken & how it could be fixed, as well as past stories of his time at Town, and prior to that, Citi Habitats. (both firms have closed or have been acquired)

Fun fact: Dan is also an owner of four F45 training gyms in NYC which we also discuss on the pod episode.

You may follow Dan at @marrellonyc & his linkedin bio here!

Please Answer in 1- to 2 words (3 - 4 minutes total)

1. Ticktok & Instagram
2. 2022 NYC Rental Market
3. Real Estate Reality television
4. TOWN Residential
5. Andrew Heiberger
6. Rent Control & Rent Stabilization
7. Citi Habitats
8. Limited Listings / Limited Exclusives
9. Open listings
10. Streeteasy
11. Streeteasy Building Pro / Neighborhood Expert Program
12. Inflation
13. Crypto Currency
14. (Bonus questions?!)

Show Notes:

Warm-Up Questions for Dan Marrello:

1. Where are you from? What neighborhoods have you lived in NYC?
2. Go to restaurant in Brooklyn & Manhattan? Campagnola NYC
3. Favorite NYC neighborhood & why?
4. What makes NYC the best city in your opinion?
5. Favorite city / state outside of NYC & why?
6. Do you have a role model in the real estate industry? Who & why?
7. What’s an insult that you’ve received that you’re proud of?
8. What’s an ideal day in NYC look like to you?
9. Do you have a morning routine?

Topics of Discussion

1. Tell me about your early days at Citi Habitats. How did you start? Where did it end?
2. Let’s talk about TOWN. What did you learn? How did you grow? What were some of your takeaways there throughout the years? What were the last few days like for you?
3. Rents are extremely high in the city this year. Could you give me 1 or 2 factors that is causing this?
4. Let’s go back to rent control & rent stabilization in NYC. How is this impacting owner operators, & renters in NYC?
5. What are some tips for New Yorkers who are moving into the city this year?
6. Americans, politicians, New Yorkers, in the upper, middle, & lower class all have a typical view of landlords in NYC. Perhaps greedy, maybe somewhat inhumane, an unforgiving man or women (shaking fist) etc. What is your view of landlords, and in NYC specifically, what types of groups / institutions / individuals are they?
7. What is a limited exclusive? How does that, if it does, the tenant community? The Brokerage community?
8. In what ways do you think the NYC rental systems are broken, or in need of significant improvement?