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Michael Salvatico

Partner

718-475-4358
msalvatico@mmreis.com

260 Madison Avenue, New York, NY 10016

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Mike's Q&A

What is Your Favorite Movie?

The Big Short

01

What is You Favorite Book?

Ray Dalio’s, “Principles”

02

What are the top things you enjoy most about working in this business and on the NYM team?

  • Competition
  • Camaraderie
  • Freedom to make decisions

03

Professional History

Michael Salvatico is a Senior Managing Director with a multidisciplinary focus covering all asset classes in the Williamsburg, East Williamsburg, and Greenpoint sections of Northern Brooklyn along with the Brownstone Brooklyn neighborhoods of Brooklyn Heights, Cobble Hill, Boerum Hill, and Carroll Gardens. He also oversees the Bushwick and Ridgewood sections for the team.

He has received numerous accolades since joining the firm and was the driving force behind the rapid expansion of the office’s market share in the Williamsburg and Greenpoint sections of Brooklyn. Distinguished by his uncanny ability to find, source and cultivate opportunities, Mike has gained notoriety as one of the office’s most prolific business generators and has redefined success for agents entering the business. He is routinely at the helm of the team’s high-profile assignments.

He is considered a “portfolio manager” more often than not by many of the areas most active operators and has set price records in virtually every asset class during his time working the Northern neighborhoods of Brooklyn.

Mr. Salvatico attended the University of Maryland where he majored in Economics while also playing running back and free safety for the Terrapins football team under the tutelage of two-time ACC coach of the year Ralph Friedgen. While at the University of Maryland, he was awarded the Dr. John E. Faber “Iron Man” of the year award for his overall strength & athleticism beating out several current NFL players.

He resides in NoHo.

PERSONAL ACHIEVEMENTS

  • Chairman’s Club: 2021
  • National Achievement Award: 2015, 2016, 2017, 2021, 2022
  • Sales Recognition Award: 2014, 2015, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023
  • Commercial Observer Top 30 Under 30 List-2016
  • Real Estate Weekly Rising Star-2018

Mike’s Newsroom

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Latest Articles

ArticleMarket Insights
January 16, 2025

Results Of Overregulating The New York City Multifamily Housing Industry

Dear Governor Hochul, We share the same mutual interest in the success of the New York City housing industry. I’m one of many salespeople representing property owners of rent regulated apartment buildings. I’m writing this letter to you on behalf of an entire industry inclusive of landlords and lenders who are too afraid to publicly tell the truth in fear of reparations, vilification, or rent strikes. We love New York City. We work, play, live, and pay taxes to the greatest city in the world, and we are here to…
ArticleMarket Insights
October 29, 2024

The Economical Reason Why Banks Should Embrace Short Sales: Our Solution to Revitalize the Multifamily Market

The Problem In the past five years the New York City multifamily market has experienced tremendous fluctuations. The passing of HSTPA in June of 2019 was the starting point of a transformative marketplace.  COVID ushered in new regulations and record low interest rates. This was quickly replaced with rapid rates hikes causing valuations to drop precipitously. Minimal rental increases for rent stabilized properties combined with upwards pressure on costs have created a distressed situation for both borrowers and lenders. Cash flow constraints, depressed valuations, and rates doubling when loans roll…
ArticleMarket Insights
September 24, 2024

Bridging the Gap Between Buyers & Sellers: The Shifts in NYC Underwriting

Despite being in the commercial real estate business and not the residential market there is a surprising amount of emotion involved in my day to day. Many of the clients our team has represented in 2024 have been selling long-held family heirlooms disguised as rent stabilized apartment buildings. My goal is to clarify the underwriting norms for rent-regulated buildings in 2024, easing emotions and setting realistic expectations from the onset. How We Got Here New York is different than the rest of the country. Vacant buildings can often be more…

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