- New York US-NY
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Dan Shavolian possesses a strong record of success in the real estate market spanning more than two decades. As Chief Executive Officer of Foremost Real Estate, LLC, a New York City-based firm, Dan Shavolian creates opportunities for growth in one of the most renowned, competitive markets in the world, as well as the surrounding Tri-State Area. Mr. Shavolian leases out a wide range of mixed-use properties, totaling more than one million square feet total and valued in the tens of millions of dollars. Dan Shavolian has taken undervalued buildings and turned them into a vibrant part of their respective communities, garnering a substantial return on investment (ROI) in the process. Throughout his career, Mr. Shavolian has overseen a number of projects in areas of hotel and retail development. Additionally, Mr. Shavolian is currently expanding his professional interests to include medical office building development. Dan Shavolian invests considerable effort into his projects, seeking out opportunities with potential for a high ROI and carefully selecting partners and resources. The results are highly successful developments that attract prominent clients. Dan Shavolian has formed strong relationships with tenants that include the Metropolitan Transportation Authority, New York University, and Yale University, as well as the Long Island Jewish Medical Center. Dan Shavolian’s 175 Varick St. project is now home to the New York State Council on the Arts. Dan Shavolian put a significant amount of work into the Varick Street building, and raised the property’s value from $5 million at the time of purchase to $23 million at the time of sale. Mr. Shavolian has many other similar successes to speak of, such as a 16-story building on 7th Avenue in the Garment District, which grew in value from $90 million at the time of purchase to $150 million at the time of sale. Mr. Shavolian also converted an office building at 145 East 32nd St. into a medical facility while more than doubling the property’s value from $34 million to $70 million. Investing in a cause that Dan Shavolian believes will make a positive impact on the community, Foremost Real Estate has recently completed a 33-year lease agreement with The Bowery Residents’ Committee, an organization committed to supporting the unemployed and homeless populations in New York City. In an effort to ease the burden of transitioning into a new home, Mr. Shavolian has contributed $4 million to the BRC’s relocation project.