Going Up: LIC Residential Real Estate Update

The residential real estate market in LIC is on an upward trajectory. This panel will delve beyond the headline and consider how things like 485X and construction pricing affect housing prices, what neighborhood services and amenities are needed to continue to attract residents, and how to ensure we are harnessing the momentum.

patricia dunphy (moderator)

Senior Vice President - Leasing and Development, Rockrose Development

Patricia presently leads the retail leasing and residential acquisitions departments for Rockrose Development. During her over thirty-five-year tenure, Patricia has been involved in all aspects of the business throughout the city but is partial to her work in the development of Long Island City.

Active in the Long Island City Partnership for many years, Patricia presently serves as the Chairperson.

Eric benaim

CEO/President/Founder, Modern Spaces

Eric Benaim, a key figure in Queens real estate since 2001, transitioned from a live event firm to luxury Manhattan sales before focusing on Long Island City (LIC). In 2006, his sale of 50 LIC residences solidified his role as a property connector. In 2008, he founded Modern Spaces, transforming LIC’s real estate scene. The firm now holds a 70% market share in LIC and has managed over $10 billion in transactions, with $4 billion in assets and a 6,000-unit development pipeline. Modern Spaces is a top New York City development marketing firm and influential in Queens. Known as the "Mayor of LIC," Eric has earned accolades including the 2018 Community Impact Award and serves on various boards. He’s also an art collector and active media commentator.

DAN MOGOLESKO

Senior Vice President of Residential Leasing & Compliance, The Durst Organization

Dan Mogolesko is the Senior Vice President of Residential Leasing & Compliance at The Durst Organization. He is responsible for the performance and growth of the residential portfolio. Dan also works closely with the project development and construction teams and is involved in the design process for several of Durst’s upcoming highly-sustainable residential buildings.

Dan has an extensive background in both urban and suburban rental markets comprised of multi-building master planned communities, luxury high-rise, mixed-use and garden-style apartment buildings. Prior to joining The Durst Organization in 2013, he worked for Tishman Speyer Properties where he held various positions of increasing responsibility. Initially hired as a residential expert at Peter Cooper Village/Stuyvesant Town, he was later tasked with managing a one million-square-foot commercial building with high-profile tenants including IBM, Prudential, TIAA-CREF, CBS, and Chase. While at Tishman Speyer, Dan also managed critical facility operations for NBCUniversal in Englewood Cliffs, NJ, which is the principal transmission hub for their network stations and the production location for CNBC’s financial programming.

Dan is a graduate of the University of Maryland, College Park. He holds a New York State broker’s license and is a member of the Real Estate Board of New York, serving as a member of the Residential Management Committee.

peter papamichael

Principal, The VOREA Group

Peter Papamichael leads by the philosophy that every problem has a solution. In 2009, Peter founded The VOREA Group, a thesis-driven development firm. His collaborative "creative thinktank" strategy solves real estate challenges with a focus on thoughtful community development. VOREA is deeply committed to the growth of Long Island City, with notable projects like the mixed-use residential tower at 2-33 50th Avenue, commercial buildings including 10-04 Borden Avenue, 44-01 11th Street and 23-20 Jackson Avenue as well as public open spaces such as the 12th Street Public Plaza.

crystal xu

Director of Business Development, United Construction and Development Group

Crystal Xu began her professional career in hospitality and event management. After living abroad in Beijing planning pop-up events and local collaborations at the Four Seasons Beijing, she returned to Philadelphia to continue wedding and corporate planning at the Reading Terminal Market. During the global pandemic in 2020, Crystal decided to join the family business of real estate development and construction. Since then, she has invested her time in managing the company's hospitality portfolio, and operating and developing condo, retail, and housing projects in New York City, San Jose, and Houston.