Chris Zedano, Development Officer, has been involved in urban development for more than five years.  Mr. Zedano is in charge of research, and provides support in all phases of the development process from design through construction and property management. In addition, Mr. Zedano focuses on marketing, government filings, and IT related activities. Mr. Zedano has led the team of professionals on the latest Solaria project through completion Mr. Zedano received his Bachelors of Science in Industrial Engineering from Universidad de Lima (Peru). 

JOSEPH KORFF

PRINCIPAL

Joseph Korff, Principal, founder of Arc Development, has been involved in real estate transactions in a number of different capacities for more than thirty years.  He has been the managing partner or principal/advisor in sophisticated real estate transactions involving billions of dollars.  Mr. Korff has structured and restructured complex financing, acquisitions and dispositions.   Over the years, he has focused on large development projects, and through his expertise in site acquisition and strategic planning, created value in otherwise undervalued properties.  He has exposure to all forms of product types including office, residential, hotel, retail, institutional, time share, resort and land development deals.  He has done assemblages, dealt with government agencies in regulatory and development capacities, turned around distressed assets and handled all aspects of development. 

Mr. Korff’s involvement as a managing partner/principal in real estate transactions includes:

1. •The assemblage, financing, rezoning, design and leasing of a 1.4 million square foot development site in Mid-Manhattan, taken by eminent domain.
   

2. •Purchase of an out–of–service hotel in Horsham, Pennsylvania repositioned for sale to a prominent regional retailer.
   

3. •The purchase, repositioning and sale of a former Marriott Hotel  another out–of–service hotel at Kennedy Airport, converted to a Radisson, now run as a DoubleTree.
   

4. •The purchase, repositioning and sale of the former Days Inn at LaGuardia, an out-of-service hotel that became the Wyndham Gardens at LaGuardia Airport.
   

5. •The purchase, repositioning and sale of Tannen Towers, a partially occupied apartment building in Atlantic City which was vacated, rezoned, designed for time share, and sold to Fairfield Resorts, now known as Wyndham Skyview Tower.
   

6. •The purchase and conversion to condominium ownership of Murray Hill Terrace in Manhattan.  Mr. Korff and his partners went to contract on Murray Hill Terrace in twenty–four hours, cashed out investors in less than three years and retained a significant number of units as well as valuable Third Avenue retail space.
   

7. •The assemblage, design, financing, construction, marketing and sale of the Solaria Riverdale, an iconic luxury condominium.
   

Mr. Korff’s involvement as a principal/advisor includes:

1. •The acquisition and renegotiation of a land lease covering more than a hundred acres adjacent to Tampa International Airport and its transformation into an office complex and the largest upscale real estate mall on the West Coast of Florida, Taubman’s International Plaza.
   

2. •The advancement of development sites for a multiplicity of uses aggregating 8,000 acres on the West Coast of Florida near Fort Myers and the restructure of its debt after the enterprise lost its major lender exited the lending market in Florida.
   

3. •The restructure, assembly and development of adjoining sites in Midtown Manhattan to create $165MM John Jay College Phase I, the first and largest turnkey development deal in the history of New York. 
   

4. •The negotiation on behalf of management of a leveraged buyout of New Seabury, the largest resort on Cape Cod, Massachusetts.

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Luk Sun Wong, Director of Development, has been involved in real estate as a developer, urban planner or architect for more than twenty–five years.  Mr. Wong received his Bachelor of Architecture and his Master of Science in City and Regional Planning from the Pratt Institute.  He is a licensed architect in the State of New York.  Prior to joining Arc Development, Mr. Wong spent six years at The Hudson Companies developing over 670 units of low–rise affordable housing in New York City and seven years at Eichner Properties developing high–rise mixed–use projects in Manhattan.  During his tenure at Eichner Properties, Mr. Wong managed the development of over 2.7 million square feet of new construction, including several apartment buildings, mixed–use buildings and office buildings.  These projects included One Broadway Place, CitySpire, The Royale, The Boulevard and America. 

Mr. Wong has experience in navigating complex governmental approvals, site conditions and the integration of multiple uses within a single building complex.  Mr. Wong managed the respective development teams of design professionals and construction consultants for each project as well as conducted lease negotiations and landlord work letters for retail and office tenants. Before his involvement in real estate development, Mr. Wong spent fifteen years in various capacities in New York City government agencies and worked as an architect and urban planner.  During his tenure as the Project Manager for waterfront development projects at the NYC Department of Ports and Terminals, he directed the development of the USS Intrepid Sea–Air–Space Museum currently berthed at Pier 86.

LUK SUN WONG

DIRECTOR OF DEVELOPMENT

Irene Susmano, Director of Finance, has been involved in real estate development and commercial banking for more than twenty years.  She is responsible for business development and financing.  Ms. Susmano has negotiated and documented financial arrangements with existing and potential lenders and investors.  Ms. Susmano has selected, negotiated and documented contracts with development and leasing professionals, developing and coordinating marketing programs and negotiating leases for retail and commercial tenants.  She has analyzed potential acquisitions and handled the disposition and financing of various other properties in the portfolio. 

Prior to joining Arc Development, Ms. Susmano spent ten years at Citibank and Banco Itau, one of the largest private Brazilian banks.  Ms. Susmano has extensive domestic and international experience in lending and investments for mid–sized companies/institutions and large private investors.  Ms. Susmano received her Bachelor of Arts in Economics from Northwestern University and her Masters of International Affairs in International Business/Latin American Studies from Columbia University’s School of International and Public Affairs.

IRENE SUSMANO

DIRECTOR OF FINANCE

John Brown, Associate, has devoted his entire career to the real estate industry. Mr. Brown is responsible for deal structuring and financial analysis as well as other activities that support Arc’s main business activities.  Prior to joining Arc Development, Mr. Brown was a Summer Associate in Lehman Brothers’ Real Estate Private Equity Group.  His responsibilities primarily included analyzing potential real estate investments and market research. Prior to Lehman, John was a Real Estate Private Equity Associate at Aetos Capital, a private equity firm that manages over $5 billion of equity.  Mr. Brown enjoyed a variety of assignments including deal structuring, investor relations and portfolio management. Earlier in his career, Mr. Brown was an Analyst in Goldman, Sachs & Co’s Real Estate Investment Banking division where he analyzed and optimized real estate client company financial strength through options including mergers and acquisitions, corporate bond offerings and commercial mortgaged backed securities offerings. Mr. Brown received his Bachelor of Science degree in Commerce from the University of Virginia’s McIntire School of Commerce and his Masters in Business Administration from Columbia Business School. 

JOHN BROWN

ASSOCIATE

Donata Marcus, Director of Marketing, has been involved in project marketing and sales, working with the development team in positioning projects and developing marketing plans and programs. Prior to her tenure at Arc Ms Marcus was a marketing and business consultant. Ms. Marcus attended Queens College of the City University of New York majoring in Art History.

DONATA MARCUS

DIRECTOR OF MARKETING

CHRIS ZEDANO

DEVELOPMENT OFFICER

LEADERSHIP