A&E Real Estate has appointed James Patchett, who previously served as president and CEO of NYC Economic Development Corp. (EDC), as its new CEO.
At EDC, Patchett oversaw a portfolio of more than 60 million square feet and made investments in and developed some of New York City’s most important assets. Prior to that, he served as chief of staff to New York City’s Deputy Mayor for Housing and Economic Development, and he was vice president of Goldman Sachs’ Urban Investment Group before that.
At A&E, Patchett will help lead the company as it embarks on a major expansion of its citywide multifamily housing portfolio and selectively invests in complementary commercial real estate assets.
The appointment follows the launch of A&E’s new $1 billion fund, its third and largest to date. The fund will acquire apartment buildings in well-located neighborhoods that are currently in need of physical improvements. Patchett will selectively evaluate invest
