Craig Nassi - Owner, BCN Development

New York City real estate development mogul Craig Nassi, owner and founder of BCN Development has the unique satisfaction of accomplishment in fulfilling his passion in two distinct career paths. Craig is a native New Yorker. His passion for history and teaching led him to begin his first career path in the Denver Public School System. His passion for architecture and creativity brought him home to the city he loves, and the fulfillment of his vision and his dream.

Craig Nassi left New York to attend college at the Colorado State University in Fort Collins, Colorado where he earned his bachelor’s degree in education. After graduation, he spent the next four years teaching history and coaching sports in Denver Public Schools, while he simultaneously earning his Master’s degree in education.

Having satisfied his teaching goals, Craig Nassi focused his sights in a new direction. He always had a passion for architecture and before too long, he was educating himself to obtain his real estate license.
In 1994 as Craig Nassi entered his new paradigm in residential real estate, he began building single-family homes which led to building multi-family dwellings and communities. The evolution of BCN Development continued to grow with new locations than to new states. Craig is known as a Development Visionary. BCN Development has its corporate office on Manhattan’s prestigious Park Avenue Location.

Craig Nassi enjoys spending time with his loving wife and their three very adored children. He is an athlete who is committed to living a healthy lifestyle. He trains to run in both marathons and triathlons and skiing in the winter.

How did you get started BCN Development? What inspired you to do so?

My love for architecture first inspired me. The creativity that comes from making a beautiful structure that people can enjoy and appreciate is an inspiration. I am more attracted to the creative part in real estate.

How does your firm make money?

As the CEO of BCN Development, I make money through the sale of our properties as well as our rentals properties.

How long did it take for your firm to become profitable?

I became profitable with BCN Development after first project made 25% return on my investment. Between sales and rentals, I was completely solvent in my first year.

When you first started out did you ever doubt that this would work for you? If so, how did you handle it?

I don’t ever think about failure. I buy low, and sell high. It is the basic principle of real estate. I did a lot of research before I made my first investment of a single-family home. I evaluated property value of a home before and after renovation. I worked out the numbers and it was a good deal. As I continued to grow and expand the business, I used the same winning process.

How did you find your first project?

I found my first project by literally walking and scouting the neighborhood ahead of time.  I found out what properties were going for before a renovation and after the renovation. If it made sense, I jumped into it. Scouting the area was a good first step and it definitely helped me learn the ins and outs of real estate buying and selling.

What is the toughest decision that you have had to make in the past few months?

The toughest decisions I make are whether or not to add different amenities to each project. Some people appreciate the amenities and don’t mind paying for them, others may have a problem with the added cost. I usually absorb that cost and go overboard with amenities. My preference is to always make them better and deliver something of high value that I can be proud of.

What do you think makes you successful?

I believe what makes me most successful is having foresight. I know what people really want. More specifically, I know what they would really appreciate as far as ascetics and design. I have a very good sense of those things. Once I have a good grasp of peoples’ expectations, I can use that knowledge to my advantage and deliver top notch quality projects to my clients.

What has been your most satisfying moment since opening your own firm?

The most satisfying thing that I find with BCN Development is when people appreciate the things that I provide for them with the work that I do. It could be a beautiful design, or a nice addition to a neighborhood. It feels good when people acknowledge the beauty in the craftsmanship that BCN Development provides to each project. Knowing that the hard work my team and I invest into a project is appreciated by our clients has no doubt been the satisfying moments.

What books have inspired would you recommend?

The business books that have inspired me have been books produced by the largest developer related companies. They excel at development in New York City. They do enormous projects that appeal to the people they way I am talking about. The developers give them great architecture and great amenities and provide them with something spectacular to look at. I get my inspiration from these people.

What is a recent purchase that you have made for your business?

BCN Development just purchase a building at 65 Buchanan Place. It is an apartment building we are designing as rentals. It is a magnificent project.

What does the future hold for you and your firm? What are you most excited about?

At BCN Development, we are most excited about the projects that we’re doing in the City. I only focus on New York City properties now. We love what we do. We enjoy the diversity of the city as well as the opportunities that one of the largest cities in the world has to offer.  There are endless possibilities. When you do something different and architecturally magnificent people here appreciate it. People always flock to these locations. They will either buy or rent it.

You can learn more about Craig Nassi on Patch.com and Praguepost.com

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