Homestead's New CEO David Yarden Surpasses Expectations

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"Adaptability" may be key to success in this unpredictable, evolving real estate market.

New York City Apartments

It was obvious from watching Mr. Yarden interact with his colleagues that they trusted him completely. If he made a decision, everyone got behind him 100% because they had so much confidence, not just in him as a person, but also in the quality of his judgment.

In January of 2008, David Yarden was promoted from Managing Director to Chief Executive Officer (CEO) of Homestead New York City Apartments after only a year with the boutique real estate brokerage company. Mr. Yarden's extensive and eclectic executive experience was cultivated within a variety of different industries--from agriculture to fine art sales--allowing him to adapt rapidly to the specific demands of the New York City real estate market and surpass the company's founders' already high expectations. In the nine months since his appointment to CEO, Mr. Yarden has already spearheaded initiatives to expand Homestead's operations and re-energize their commitment to meeting the individual goals of each client they serve.

Mr. Yarden has a unique perspective on meeting the goals of his clients, as his first interactions with Homestead were in the capacity of client. When Mr. Yarden first arrived in New York from his native Israel in 2004--shortly after Homestead co-founders Daniel Shamooil and Eli Adahan opened their first office in the heart of the Financial District--Mr. Adahan personally assisted Mr. Yarden in finding his first NYC apartment, a rental in SoHo.

Mr. Yarden was so impressed by the incomparable quality of this experience, that when he began purchasing New York City Condos for investment purposes, he returned to Homestead for all three transactions. "I went to other realtors, but Homestead was by far the most professional and easiest to work with, so I went back every time."

Mr. Adahan was equally impressed by Mr. Yarden's business sense and personal integrity. "It was obvious from watching Mr. Yarden interact with his colleagues that they trusted him completely. If he made a decision, everyone got behind him 100% because they had so much confidence, not just in him as a person, but also in the quality of his judgment."

When the position of Managing Director opened up in the spring of 2007, Mr. Adahan and Mr. Shamooil agreed they wanted to offer Mr. Yarden the job, which entailed overseeing 40 agents. "More than we needed another realtor in that position," said Mr. Adahan. "We needed a man like Mr. Yarden whose personal ethics would bring clarity to our daily operations and inspire confidence in both our clients and staff."

Although Mr. Yarden's management and executive skills were honed across a number of platforms--including agriculture, military, education, and fine art--in his new position, Mr. Yarden took it upon himself to learn every aspect of the real estate business, including earning his broker's license and showing clients apartments.

Mr. Yarden found that his experiences in the position he held immediately before joining Homestead, Account Manager at Opera Gallery in SoHo, were also very useful in helping him to effectively understand and assist Homestead's clients. "Homestead specializes in pre- and newly constructed New York City condos and even for very affluent clients, the purchase of a NYC apartment--like the purchase of a Picasso--is a major investment that is not risk-free. Matching the individual client to the property that best suits their intentions, needs, and expectations is essential to helping them choose the investment that will deliver the highest possible return for that particular client."

According to Mr. Adahan, by January 2008, Mr. Yarden's outstanding performance and extensive knowledge of- and acute instincts for the real estate market made him the obvious choice for the position of CEO. Within weeks of his appointment, Mr. Yarden helped to spearhead Homestead's expansion into prime street-level retail space on the corner of 8th Avenue and West 54th Street--the nexus of several of Manhattan's most coveted neighborhoods, including Columbus Circle, the Plaza District, Central Park West, and Clinton Hill (Hell's Kitchen)--to open Homestead's new Midtown West office. Mr. Yarden has helped to expand Homestead's client base to include some of NYC real estate's largest developers.

Mr. Adahan reports that Homestead New York is thrilled with Mr. Yarden's first nine months and look forward to many more innovations from their energetic and driven new Chief Executive Officer.

About Homestead, New York:
Homestead New York is a boutique real estate firm that was founded by Daniel Shamooil and Eli Adahan in 2004. Homestead has two street level branch locations: Downtown at 102 Fulton Street (212-566-5550) and Midtown West at 900 8th Avenue (212-767-0900). Homestead - New York City Apartment Rentals & Sales has a well-deserved industry reputation for working energetically to serve their individual clients' specified needs.

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David Elgrabli
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