40 Under 40: Richard Gatto
What is your most notable project, deal or transaction?
Robert Towers, an 11-story, 206-unit multifamily building in East Orange, New Jersey. The property sold for $22 million, which equals roughly $107,000 per unit. We leveraged our platform and process, generated significant interest from over 100 investors from 15 offices across the country, created a competitive bidding environment and generated 17 offers in 30 days, including five from out-of-market buyers. We were also able to arrange $19.8 million in acquisition financing through Marcus and Millichap Capital Corporation.
What unique qualities and or personality do you feel makes you most successful in your profession? It’s a combination of growing up in an entrepreneurial development family and spending 15 years on wall street in institutional sales and trading that gives me the ability to understand intricacies of a deal from both a financial and mechanical prospective. This allows me to convey in a clear and concise manner, how investors can generate above average returns in a deal.