John Casmon

From Skyscrapers to Syndications with Donato Settanni, Episode 125

Donato Settanni is a multifamily syndicator with experience as a skyscraper developer. He worked on the Yankee Stadium project, Madison Square Garden and St. Johns Terminal amongst other projects before shifting his focus to apartment syndication. Today, he shares more on his journey and how he worked on some of New York’s iconic structures before helping investors earn strong returns.

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Key Market Insights

Intrigued with skyscrapers as a kid and went to school to become a structural engineer
Worked with Turner on new construction deals including projects for Yankee Stadium, Madison Square Garden, Google’s New Headquarter
Big difference from working at a major developer vs. running a small business: resources and process
Biggest challenge with transitioning into syndication: ensuring there is capital for the next deal
Investors like the depreciation aspects of apartments where they can get cash flow that is essentially tax-free
Focusing on Southeast markets for growth and diversification
Being conservative on loan terms and exit cap rates to provide a cushion

Bull’s Eye Tips:

Winning Your Market: Find value that others don’t see

Tracking Market Changes: Talk to PMs constantly

Daily Habit: Start mornings at 7 am individually and at 8 am he sits down with his partner to discuss priorities for the day.

Resources:

Best Business Books:

Tools of Titans by Tim Ferris

Digital Resources

ESRI

American Fact Finder

Places to Grab a Bite:

RH Rooftop