David Stern created Townhouse Partners in 2009 with the vision of building a high-end due diligence consultancy, and along the way, has become a pioneer in providing customized, responsive consulting services to the commercial real estate sector. In creating Townhouse Partners, David was inspired by his ideals for the critical way due diligence firms contribute to the success of banks and investors. His vision includes leading great teams, inspiring people to perform at their best, and delivering the highest quality clientResults.
David oversees all aspects of business development and client services and brings to each project and deal perspective and acumen accumulated throughout the course of his 20-year career. He played an integral role in building Blackheath Financial in the early 2000s and grew the firm to over 150 commercial real estate due-diligence specialists consulting for investment banks, REITs, and hedge funds. David’s leadership resulted in the successful integration of theUS consulting team with a team based in Chennai, India, when Blackheath merged with the outsourcing firm Zenta (since acquired by Accenture).
David earned his BA in Economics from Clark University and an MS from New York University’s Schack Institute of Real Estate. David’s attraction to math, probabilities, and data aggregation began at an early age and was later put to good use running his high school’s first and only sports book. He currently lives in New York City with his wife and two children, and, in his spare time, enjoys running and playing tennis.
Michael Beckman joined Townhouse Partners in 2015. He is a high energy, personable, and skillful team member with 14 years of commercial real estate and mortgage experience. He has a successful track record in sales, project, and personnel management. Michael’s roles include leading a deal team that covers large loans for banks and specialty lenders (balance sheet and securitized), as well as driving the firm’s business development efforts, and assisting with corporate development.
Prior to Townhouse Partners, Michael was an Associate and eventually a Partner at another commercial real estate and mortgage consulting firm called Foxhole Consulting, and before that he was an Analyst at a commercial real estate private equity firm called Southwest Next. Michael attended UT-Austin, and now lives in Manhattan with his wife and three young children, where they love exploring their favorite city in the world.
Eric Herlands is a seasoned CRE professional with 36 years of highly diverse experience. He joined Townhouse in 2014 and specializes in valuation and underwriting across all asset classes on a local and national basis. Mr. Herlands also possesses a decade long transactional record acquiring Class A office properties for a $6 billion New York office REIT.
His real estate acumen and analytic ability is widely regarded and Mr. Herlands is an acknowledged expert in the industry standard Argus software. He developed and presently teaches a graduate level acquisition course at NYU Schack Institute of Real Estate which prepares the next generation of real estate analysts for the rigors of the industry.
In his present role as Managing Director at Townhouse, Mr. Herlands leads an on-going national loan surveillance program for 500+ institutional assets across all property sectors which includes re-underwriting, market research, loan risk ratings and identification of potential adverse credit issues. Additionally, he manages acquisition advisory activities tailored to private equity investors including financial modeling, underwriting and due diligence. Other advisory services include the preparation of committee approval material as well as post-acquisition maintenance of live Argus models, on-going NOI validation and creation of ad-hoc management reports benchmarking property level performance against budget.Mr. Herlands graduated Baruch College with a Bachelor of Business Administration. He resides in Westchester, New York with his wife of 33 years and their cockapoo, Lenny.
Townhouse Partners is a finance consultancy focused on commercial real estate. For over 14 years, we have been providing advisory and research services to investors looking for an edge in the market. By utilizing our unique financial modeling and experienced approach, we are able to provide world-class advice that can't be found anywhere else.
Through our expert due diligence and underwriting support, we have effectively managed and advised on billions of dollars in property value and loan worthiness across the real estate universe.
From property to portfolio, we treat your money like it was our own—and we won’t let you waste a penny.
Townhouse Partners is led by veterans of the commercial real estate consulting world. It’s a team of financial gurus, technologists, and professors, all sharing a commitment to solve our clients' most important problems.
Native to New York, nationally focused.
Our location at One Grand Central Place has given us a vantage point for keeping up with trends and continuing to be at the forefront of the evolving industries of real estate and finance.