Michael Shenot is a managing director in JLLs New York office. His primary focus is on strategic advisory work for large institutional clients. He also acts as JLLs relationship manager for the Port Authority of New York and New Jersey account, providing a range of real estate advisory services in support of the agencys redevelopment of the World Trade Center complex. Mr. Shenot has practical expertise in strategic planning, real estate development, financial analysis and accounting, lease and sale transaction negotiations and building operations. Mr. Shenot joined JLL in 2004.
Mr. Shenot has close to 30 years of experience in serving the real estate needs of major corporations and public institutions. He has led teams that concluded some of the most transformative real estate transactions in the New York market, including:
The Hunts Point Produce Cooperative Market: Lease extension on its 103-acre produce market in the Bronx from the City of New York that supplies 40% of New York Citys fresh food
Nordstrom, Inc.: Joint venture with Extell Development to build a flagship retail department store at 1780 Broadway in Midtown Manhattanexpected market value of $3.4 billion upon completion
The Port Authority of New York and New Jersey:
Restructuring of Silverstein Properties ground lease at the World Trade Center site$1.5 billion value
600,000-s.f. headquarters lease in Lower Manhattan
Negotiation and structuring of the joint venture between the Port Authority of New York and New Jersey and the Westfield Corporation for the development and leasing of the retail mall at the World Trade Center
The Metropolitan Transportation Authority: Sale of the West Side Rail Yards to Related Development$1.2 billion value
Bank of America: 750,000-s.f. headquarters lease in Lower Manhattan
Before joining JLL, Mr. Shenot worked with Merrill Lynch for more than 14 years, most recently as director of real estate planning and transactions. In that position, he oversaw strategic planning, space acquisitions and dispositions, and lease administration for the firms 8-million-s.f. New York office portfolio. In addition, Mr. Shenot managed a Merrill Lynch real estate investment portfolio totaling nearly 2 million s.f. He has worked on leasing and finance transactions covering 35 million s.f. of space in 43 separate countries across the globe. Prior to joining Merrill Lynch, he served for eight years in a variety of positions in Goldman, Sachs & Co. Inc.s real estate department.
Mr. Shenot earned a bachelors degree in finance from Pennsylvania State University.