NEW YORK CITY—With more than three decades of experience under her belt—and as a woman in a male-dominated industry—one might expect Leslie Himmel, co-managing partner, Himmel + Meringoff, to express worry over the year ahead or around a lack of female presence in real estate.

But she has far too much of a positive outlook to hold such a negative perspective. Instead, the seasoned real estate professional reflects to GlobeSt.com in this EXCLUSIVE interview on a “spectacular” 2016, a hopefulness for more women in the room and a challenging year ahead—for which she sees the silver lining.

GlobeSt.com: What were you up to this year?

Leslie Himmel, co-managing partner, Himmel + Meringoff: 2016 was a spectacular year; it was incredibly eventful for us. We financed five of our properties, lining up long-term debt, and locked in historically low interest rates.  We secured a 10-year, interest-only loan for $200 million on 1460 Broadway and with the other refinancings, the company has secured low interest rates for the next seven to 10 years.

Also we sold two properties: 681 Lexington Ave. to the developer Hines, which is developing a senior housing property, and our air rights above 1356 Broadway, known as Gotham Hall. The neighboring property owner is using them for a larger development site.

In addition, we've been reinvesting in our properties and are simultaneously overhauling three lobbies. At 1460 Broadway, with a capital budget of over $60 million, we basically rebuilt the whole building. At 729 7th Ave., we're doing a modern redesign and we even get into thematic positioning of properties. The building had attracted entertainment as well as TAMI tenants so we created a film strip art piece for the lobby.

The tailwinds of the year was a good sales, financing, and leasing market. We continue to see the growth of TAMI tenants and recently financial tenants like Goldman's bank stock is up dramatically. If banks can become more profitable under a lessened regulatory environment perhaps there will be expansion.

GlobeSt.com: What do you see ahead for 2017?

Himmel: The headwinds that are coming are rising interest rates; more increases are expected. Cap rate increases likely will follow interest rate increases but I don't know the slope of the curve.

When there were zero interest rates and I could buy properties for a four cap, there was a big differential. But if interest rates rise there will be a repricing of the capital and cap rates will rise. Also as the dollar strengthens, I'm not sure you'll see the same volume of foreign capital as we've had.

There's a long list of proposed tax changes; 2017 will be a year of change. But change always represents opportunity.

GlobeSt.com: How do you feel about opportunities for women to join the industry and move ahead?

Himmel: I'm so into the business and creating opportunities that I don't see an issue. I have a great life and I'm working so for me, the best thing is to be happy. I believe in leading by example. Like the Nike commercial, enjoy what you're doing and just do it. Being successful is seeing a goal and just doing it.

I don't understand why there aren't as many women as men in the industry because in this business you're as good as what you create and you can create your own hours. If you have a family, this field is ideal. I'm surprised there aren't more women but I am seeing them so I hope there are more in the future.

GlobeSt.com: What does your longevity—and that of the firm—add to your value proposition?

Himmel: We've been around for 32 years and when things get a bit more challenging, experienced operators and owners will be more highly coveted. Real estate is an asset repositioning game and takes a lot of intensive work day-to-day. It isn't just a money game.

NEW YORK CITY—With more than three decades of experience under her belt—and as a woman in a male-dominated industry—one might expect Leslie Himmel, co-managing partner, Himmel + Meringoff, to express worry over the year ahead or around a lack of female presence in real estate.

But she has far too much of a positive outlook to hold such a negative perspective. Instead, the seasoned real estate professional reflects to GlobeSt.com in this EXCLUSIVE interview on a “spectacular” 2016, a hopefulness for more women in the room and a challenging year ahead—for which she sees the silver lining.

GlobeSt.com: What were you up to this year?

Leslie Himmel, co-managing partner, Himmel + Meringoff: 2016 was a spectacular year; it was incredibly eventful for us. We financed five of our properties, lining up long-term debt, and locked in historically low interest rates.  We secured a 10-year, interest-only loan for $200 million on 1460 Broadway and with the other refinancings, the company has secured low interest rates for the next seven to 10 years.

Also we sold two properties: 681 Lexington Ave. to the developer Hines, which is developing a senior housing property, and our air rights above 1356 Broadway, known as Gotham Hall. The neighboring property owner is using them for a larger development site.

In addition, we've been reinvesting in our properties and are simultaneously overhauling three lobbies. At 1460 Broadway, with a capital budget of over $60 million, we basically rebuilt the whole building. At 729 7th Ave., we're doing a modern redesign and we even get into thematic positioning of properties. The building had attracted entertainment as well as TAMI tenants so we created a film strip art piece for the lobby.

The tailwinds of the year was a good sales, financing, and leasing market. We continue to see the growth of TAMI tenants and recently financial tenants like Goldman's bank stock is up dramatically. If banks can become more profitable under a lessened regulatory environment perhaps there will be expansion.

GlobeSt.com: What do you see ahead for 2017?

Himmel: The headwinds that are coming are rising interest rates; more increases are expected. Cap rate increases likely will follow interest rate increases but I don't know the slope of the curve.

When there were zero interest rates and I could buy properties for a four cap, there was a big differential. But if interest rates rise there will be a repricing of the capital and cap rates will rise. Also as the dollar strengthens, I'm not sure you'll see the same volume of foreign capital as we've had.

There's a long list of proposed tax changes; 2017 will be a year of change. But change always represents opportunity.

GlobeSt.com: How do you feel about opportunities for women to join the industry and move ahead?

Himmel: I'm so into the business and creating opportunities that I don't see an issue. I have a great life and I'm working so for me, the best thing is to be happy. I believe in leading by example. Like the Nike commercial, enjoy what you're doing and just do it. Being successful is seeing a goal and just doing it.

I don't understand why there aren't as many women as men in the industry because in this business you're as good as what you create and you can create your own hours. If you have a family, this field is ideal. I'm surprised there aren't more women but I am seeing them so I hope there are more in the future.

GlobeSt.com: What does your longevity—and that of the firm—add to your value proposition?

Himmel: We've been around for 32 years and when things get a bit more challenging, experienced operators and owners will be more highly coveted. Real estate is an asset repositioning game and takes a lot of intensive work day-to-day. It isn't just a money game.