Founder and President
Townhouse is David Stern’s dream home in many ways. Here, he is surrounded by a team he admires and work he enjoys immensely.
The firm he created reflects the things he values most, like leading great teams, inspiring people to perform at their best and delivering client-focused results. With Townhouse, he set out to create the industry’s high-end due diligence consultancy and in doing so, he has become a pioneer in providing customized, responsive consulting services to the commercial real estate sector.
In creating Townhouse, David and co-founder Craig Lombard were inspired by the best practices they have experienced and their ideal for the critical way due diligence firms contribute to the success banks and investors.
In his role as President, David oversees every aspect of business development and client service. David brings a wealth of experience to every deal and project he takes on. He played a key role in building Blackheath Financial in the early 2000s, expanding the firm to include more than 150 employees specializing in commercial real estate due-diligence consulting for large investment banks, REITs, hedge funds and development companies.
In 2007, when Blackheath merged with the India-based outsourcing firm Zenta, David’s leadership resulted in the successful integration of a large U.S. consulting staff with an equally large team in Chennai, India.
His accomplishments also include playing integral roles on both the acquisition team of a large New York REIT and in the actuarial group of Prudential Insurance. David also launched a residential for-sale-by-owner website that was unprecedented at the time.
David’s academic achievements include earning a BA degree from Clark University and an MS from the NYU’s Schack Institute of Real Estate. On a personal note, his heroes include Thomas Edison for his vision and ability to create inventions that changed the world. David grew up nearby to Edison’s former laboratory in Llewellyn Park and the experience influenced his early attraction to math and analytics. Later on, David would put his acumen in math, probabilities and data aggregation to good use by running his high school’s only sports book.
Outside of the office, David gets his adrenalin rush on the tennis court or by running the reservoir in Central Park and the occasional marathon. David lives in New York City with his wife and his two small children, who he is very much looking forward to getting on the courts some day.