Faculty Advisor

 

MICHAEL D. HAMMERSLAG
August 2001

EDUCATION

Ph.D. Finance / Real Estate University of Connecticut 2002 (May)
M.S. Real Estate New York University 1991
M.B.A. Finance Long Island University 1989
B.S. Computer Science, Mathematics, Business Administration Heidelberg College 1986

ACADEMIC EXPERIENCE

2001-2002 SUNY - Oneonta Assistant Professor Division of Economics and Business

2000-2001 Cornell University Assistant Professor - Visiting School of Hotel Administration, Financial Management / Property Asset Management

1997-2000 University of Connecticut Research Assistant / Instructor
School of Business Administration, Department of Finance

RESEARCH INTERESTS

Real Estate Economics, Real Estate Valuation, Commercial Property Markets, Agency Theory, Incentives, Information, and Corporate Control

DISSERTATION

Essays on Income Property Valuation
Essay 1: Sharing the Benefits of Tax Deferral: Evidence from 1031 Exchanges
Essay 2: Spatial Autocorrelation in the Transaction Prices of Commercial Real Property
Essay 3: Spatial Autocorrelation in Income and Transaction Prices of Commercial Real Property: A Case for Joint Estimation

TEACHING EXPERIENCE
Course Teaching Rating
Graduate Advanced Real Estate - Investments 4.09/5.0

Graduate and Undergraduate Real Estate Principles 4.25/5.0 G 8.9/10.0 UG

Undergraduate Financial Management (Corporate Finance) 8.4/10.0
Hospitality Real Estate - Market Analysis 3.99/5.0
Investments - Financial Current
Portfolio Management Spring 2002

RESEARCH AND PUBLICATIONS

Research Completed
Sharing the Benefits of Tax Deferral: Evidence from 1031 Exchanges

Current Research
Description: Term Structure of Leases
Co-author(s): C.F. Sirmans, J.P. Harding, O. Sezer
Status: Theory reviewed, Data collected

Description: Effects of Brokerage Firm Size in Commercial Property Markets
Co-author(s): Shiawee Yang
Status: Data collected, Preliminary Empirical Analysis Completed

Description: Optimal Store Location with Externalities
Co-author(s): G. Turnbull
Status: Theory done, Data collection initiated

Research Reports
Grubb & Ellis New York City Office- and Retail- Market Forecasts, Editor, 1996 and 1997.
Urban Land Institute Market Profile - New York City, Reviewer, 1996 and 1997.

Articles Featured In
"Market Focus: Manhattan," Real Estate Forum, 51(7), July 1996, 90-100.
"Park Avenue becoming more Cliché than Cachet," Crain's New York Business, XII(1), January 1-7, 1996, 11-12.
"Property Management Viewpoints," Real Estate New York, 13(9), November 1994, 42-55.

PAPERS AT MEETINGS OF ACADEMIC SOCIETIES

Presenter
American Real Estate and Urban Economics Association, 2000.

Discussant
American Real Estate and Urban Economics Association, 1999 and 2000.
Financial Management Association, 1999 and 2000.

OTHER ACADEMIC ACTIVITES

Journals as Reviewer
Real Estate Economics

Speeches
"Appraisal Principles", Connecticut Mortgage Bankers Association, 1999.

Professional Societies
Member, American Finance Association
Member, American Real Estate and Urban Economics Association
Member, Financial Management Association
Member, American Real Estate Society
Member, Real Estate Board of New York - Research Committee, 1994-1997
Member, Real Estate Board of New York, 1990-1997

PROFESSIONAL EXPERIENCE

Director of Research, Grubb & Ellis New York, Inc. 1995-1997
International firm of real estate managers, consultants, and brokers.
Managed a staff of 5 with a budget exceeding $500,000. Team was responsible for financial analysis, marketing and graphics, market research, proposal preparation, and computer systems.
Director of Research & Analysis, Sylvan Lawrence Company, Inc. 1993-1995
New York City owner, broker, and manager of commercial property.
Tracked all tenants, prepared "snapshot" cashflow analyses, building proforma analyses, reviewed commission-billing practices, and prepared market forecasts.
Manager of Financial Analysis and Chief Information Officer, Joseph Hilton & Associates, Inc. 1990-1993
New York and New Jersey commercial real estate broker.
Structured and analyzed real estate transactions for the firm. Responsible for computer resources.
Assistant Treasurer (Real Estate Acquisitions), The Chase Manhattan Bank, N.A. 1989-1990
International money center bank.
Reviewed properties for acquisition by Chase Real Estate Fund.
Budget Analyst, The Rockefeller Group, Inc. 1988-1989
New York City real estate holding company.
Prepared and analyzed proformas for Rockefeller Center buildings and sale to Mitsubishi Estate Co.
Budget Planner, Grumman Corporation 1986-1988
Defense contractor.
Performed manpower planning studies and analysis for the A6-E aircraft program.