Developer Sam Charney, founder of Charney Companies, discussed his career and approach to real estate development during the first episode of The Real Deal’s “The Industry Dish” series. The interview took place at the Gaggenau Test Kitchen in Manhattan.
Charney grew up in New York City and reflected on how the city’s environment in the 1980s and ’90s influenced his perspective. “That kind of formed who I am and what I bring to development,” he said.
While attending Bates College as an art history major, Charney became interested in urban planning after taking a class about the impact of automobiles on suburban growth in the United States. “I found it fascinating and really was interested in becoming an urban planner,” he said. He participated in a summer program for aspiring planners and architects but realized it wasn’t the right fit for him. “Everyone around me was so much more talented than I was,” he said. “They were building the Taj Mahal out of toothpicks and I could barely draw a stick figure. And I realized I was definitely in the wrong place.”
Charney returned to New York City, turning his attention to real estate development, where he appreciated having more control over projects compared to architects. He compared a developer’s role to that of a movie producer who assembles a creative team and oversees all aspects of production.
After earning a master’s degree from New York University, Charney worked as a project executive at Two Trees Management for nearly ten years, overseeing over one million square feet of office and housing developments.
In 2013, Charney founded Charney Companies, based in Long Island City. Since then, his firm has built more than 1,000 residential units across New York City with another 3,000 units planned or under construction.
Charney spoke about his early impressions of Brooklyn from childhood visits and noted how rising prices pushed tenants toward more affordable options as development increased in the borough during the early 2000s.
During his time at Two Trees Management around 2010, Charney saw potential for converting industrial spaces into residences in Long Island City. His company’s first project was the Jackson Condominium building, completed in 2015.
He later expanded operations into Brooklyn due to rezoning efforts in Gowanus that opened new opportunities for residential projects. Although the pandemic created obstacles, Charney remained committed to developing in New York City: “New York’s not going anywhere.”
Charney described challenges faced by developers working within Manhattan’s height limits and sky exposure plane restrictions. Referring to acquiring an existing student housing property at 99 Claremont near The Riverside Church, he explained: “When I saw that, I said, ‘Okay, we need to buy this building,’ because not only is it, cost-wise, below replacement cost, but I don’t think you could actually replace it because of the shape of the building and the depth of the building.” He added that his company moved forward with purchasing despite not having immediate plans: “had to own” it and “figure it out.”
He credited his upbringing with teaching him critical thinking skills necessary for navigating construction challenges as a developer.
Charney is now focused on passing those skills on to his children: “I’m very fortunate that my children love to read,” he said.
Emphasizing attention to detail throughout each project phase—comparing it to using quality ingredients when cooking—he stated that high-end materials are essential for delivering strong results.
For those considering entering real estate development, Charney advised: “You’ll instantly have a cohort of real estate friends to talk with and start to understand the industry,” he said.
“I got lucky; I got thrown on construction sites in my early twenties. I had no idea what I was doing, but I was told, ‘You are now the super, the project manager, everything.’ And I worked 18-hour days to learn and understand how to build a building,” he said. “I learned from the subcontractors and I learned from the consultants, the architects and the engineers, et cetera, and I picked their brains and had conversations with them.” He maintains some of these professional relationships today.
The interview took place at B/S/H Home Appliance Corporation’s Experience & Design Center in New York City.
