Marc R. Shapiro serves as a Senior Managing Director and Practice Leader of Newmark Valuation & Advisory’s Financial Reporting practice. Shapiro brings to his position more than 30 years of experience in all aspects of commercial and residential real estate valuation and analysis. Over the course of his career, he has successfully served a wide range of clients, including federal and state agencies, municipalities, financial institutions, insurance companies, REITs, corporations, public utilities and individuals. As the practice leader, Shapiro is focused on ensuring that the group works to meet the requirements of our clients as prescribed by the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB). By employing the Newmark V&A platform in close alignment with Newmark Capital Markets, Shapiro brings the necessary knowledge and resources to effectively navigate complex financial, accounting, tax, regulatory and legal issues.
Shapiro’s expertise extends to all commercial and residential property types, including office, industrial, retail, lodging, multifamily (high-rises, garden apartments and condominiums), rights-of-way and special purpose (self-storage facilities, service stations, waterfront properties and lab facilities). He has performed valuations for both individual properties and portfolios, and his work has been used in marketability and feasibility studies, financial reporting, fair market value analysis, litigation support, pre-trial analysis and counseling, negotiations and settlement conferences.
Shapiro has also assisted public and private clients in the application of Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 805 Business Combinations. In this capacity, he has assisted clients in identifying and measuring both tangible and intangible components of real property at fair value, under the rules prescribed in FASB ASC Topic 820 Fair Value Measurements.
Additionally, Shapiro has advised public and private clients in assessing the fair value of acquired real estate in conjunction with goodwill impairment, acquisitions and bankruptcy financial reporting requirements. He has also valued joint venture partial interests in support of tax filings for minority interest in family trusts and family limited partnerships. Lastly, Shapiro’s experience includes buy-side advisory and related due diligence work for publicly and privately held companies, audit support related to fair value issues and model valuation, fair value analyses of commercial real estate loan debt, historical analyses of financial statements and budgets, market studies, lease-by-lease analyses of multiple tenant real estate and discounted cash flow analyses.
Although Shapiro has concentrated most of his practice on the U.S., he has provided services, including real estate valuations and consultations, to clients in England, France, Germany, Italy, India and Japan.
Shapiro joined Newmark in 2018, after more than 10 years with FTI Consulting, a global business advisory firm. As a managing director in the firm’s Roseland, New Jersey office, Shapiro led the firm’s real estate valuation practice. In 2015, he was also appointed a co-leader of FTI’s cost segregation practice, which advises clients on how to maximize the benefits of the Modified Accelerated Cost Recovery System (MACRS), the current system for calculating deductions for depreciation under the U.S. tax code.
Prior to joining FTI Consulting, Shapiro was a director in the Valuation & Advisory group of Cushman & Wakefield for five years and served as a vice president with Albert Valuation Group, Inc. in New York for 12 years.
Professional Affiliations
- Former Board of Directors member, Metro NJ Chapter of the Appraisal Institute
Licenses and Designations
- MAI designated member, Appraisal Institute
- State certified general real estate appraiser (SCGREA), states of New York and New Jersey
Education
Shapiro earned a Bachelor of Arts degree in economics from Rutgers University. More recently, he has completed the requirements of the Appraisal Institute’s continuing education program.