Real Estate Firm Hires Arthur Skelskie, Promotes Team Leader Stephen Powers
February 27, 2020
New York City – Transwestern Commercial Services (TCS) today announces two high-profile personnel moves in its New York office that strengthen its market-leading Nonprofit Advisory Services team. The commercial real estate firm has hired industry veteran Arthur Skelskie as Executive Managing Director, and Stephen Powers, who leads the national Nonprofit Advisory Services platform, has been promoted to Partner.
The expansion comes as the team responds to increased client demand for its services throughout the city. During 2019, Transwestern’s Nonprofit Advisory Services team closed more than 500,000 square feet in transactions. Notable transactions during the year included representing Zeta Charter School in a 98,000-square-foot lease at 425 Westchester Ave. in the South Bronx, and representing Goodwill Industries of Greater NY and Northern NJ Inc. in the $35 million sale of Goodwill Terrace, an affordable housing building in Long Island City. Building on that momentum, the team currently has more than 1 million square feet of nonprofit transactions in the pipeline.
“New York City’s nonprofit sector provides critical services for our communities and often require specialized spaces at an affordable price point throughout the boroughs and in prime Manhattan,” said Powers. “Our expertise in understanding funding mechanics, specialized facility needs, and utilizing tax-exempt status to reduce occupancy expense allows us to structure sustainable real estate implementation strategies for our clients in alignment with their mission and vision.”
Powers has been dedicated to serving nonprofit clients for the past 15 years of his career, helping a wide spectrum of nonprofits secure mission-driven administrative and program space, including Children’s Aid, Goodwill Industries, City Year, KIPP Foundation, Genesys Works and the National Museum of Mathematics. He serves as the Chair of the Associate Board for the National Museum of Mathematics and sits on Transwestern’s Board of Directors.
Skelskie brings a 20-year career managing multinational corporate real estate portfolios. Most recently, he was the head of Global Corporate Services for Moody’s Corp., with responsibilities including strategic planning, real estate transactions, project management, facilities management, procurement and sourcing, security, and business continuity. He also directed the Moody’s Foundation as well as all of the company’s corporate social responsibility programs. Previously, Skelskie directed Global Real Estate for Time Inc. and managed the activities of the central real estate organization for Siemens North America. A member of the New York State Bar, he began his career as a real estate attorney, working for Siemens and in private practice in New York City.
For 10 years, Skelskie has been active with the Cooke School and Institute, a nonprofit school for children with special needs in New York City, serving as a member of the Board of Trustees, Chair of the Real Estate Committee and member of Executive Committee. He also acts as the Chair of the Real Estate Committee and a member of the Board of Trustees of CAST, a social service agency that assists residents in need on the East End of Long Island.
“Transwestern has earned a reputation as the leading real estate firm serving nonprofit organizations in New York City,” said Skelskie. “I am thrilled to be joining an organization where I will be able to support the New York nonprofit community with the best practices that I have learned and developed throughout my career in real estate law and corporate real estate.”
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.