8B — April 29 - May 12, 2016 — Owners, Developers & Managers — M id A tlantic
Real Estate Journal
www.marejournal.com
O wners , D evelopers & M anagers Top New York area young executives Chen of Crystal Window & Door Systems makes NY Top 40 Under 40 list
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City and the surrounding area, the selection process is highly competitive and being named to the list is quite an honor. Crain’s , the New York metro area’s weekly business news magazine, was one of the first to introduce the concept of recognizing successful young leaders who are redefining their industries and markets. Crain’s 40 Under 40 List was launched nearly 30 years ago and has been replicated by numerous other publications across the country ever since. “Crystal is one of the few remaining true manufactur- ers in New York City,” said
Chen. “I’m thrilled the com- pany and I have been selected for this honor by one of the most prestigious business pe- riodicals in the nation.” Past recent 40 Under 40 winners include Robert Reffkin, vice president of Goldman Sachs; Kenneth Chenault, executive vice president of American Ex- press; Congresswoman Grace Meng; Marissa Shorenstein, president of AT&T in New York State; Jason Ackerman, CEO of Fresh Direct; and Nick Cannon, well known celebrity and president of Ncredible Entertainment. Crain’s receives over 500
nominees each year for the 40 Under 40 List from a broad spectrum of industries. Re- porters for the publication vet nominees as to their profes- sional success, community service and participation in professional and trade groups. Editors and senior reporters thenmeet to review the results of the vetting process and make the final 40 selections. For more than a decade, Chen has had overall respon- sibility for the operations of Crystal’s growing national family of vinyl and aluminum window companies, its 600 em- ployees and nearly one million
s/f of manufacturing space. Born in Taiwan, he came to America with his parents at an early age. He grew up in the family window business, working through high school and college wherever needed, on the factory floor making windows, in accounting or even loading trucks. Since tak- ing the helm of the traditional “brick and mortar” manufac- turer in 2005, Chen has grown sales more than 70%, acquired properties and launched pro- duction facilities in California and Pennsylvania, expanded distribution to 40 states and added 200 employees. The company’s flagship factory in New York City produces nearly 2,000 windows and doors each day. Chen’s aggressive adop- tion of new technology has improved products, opera- tions and grown sales to keep pace with today’s demanding construction environment not only in the New York area but also across the nation. Com- puterized in-house product testing, 3D printing design capabilities, mobile connectiv- ity with all the company’s fa- cilities and personnel, website upgrades, social media promo- tion, and a new multi-million dollar company-wide computer system are just some recent examples of technology Steve and Crystal have incorporated into the national enterprise. n Marcus &Millichap facilitates Glover Park multifamily trade to condo developer WASHINGTON, DC — Marcus & Millichap an- nounced the sale of 4008 Ed- munds St. NW, a four-unit apartment building located in the Glover Park neighborhood of Washington, DC. The asset sold for $1.85 million, approxi- mately $462,500 per unit. Marty Zupancic , vice pres- ident investments, and Chris- tian Barreiro , investment specialist, both in Marcus & Millichap’s Washington, D.C. office, represented the buyer, an experienced local devel- oper. The investor plans to convert the 3,300 s/f property into condominiums, as they have with multiple properties in the Glover Park neighbor- hood including two luxury properties on Fulton Street, Cathedral Crest I and II. n
LUSHING, NY — Na- tional manufacturer Crystal Window &
Door Sys - t e m s a n - nounce that chief operat- i ng o f f i c e r Steve Chen h a s b e e n named in the Crain’s New York Bus i -
Steve Chen
ness Magazine March 28, 2016 edition to its 2016 40 Under 40 list of top New York area young executives. With liter- ally hundreds of thousands of young executives in New York
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