Second Annual Undergraduate Real Estate Case Competition Challenges Students to Reimagine Downtown Syracuse Landmark

A vacant seven-story historic office building in Syracuse’s historic Hanover Square was at the center of the second annual Whitman Real Estate Case Competition, held Feb. 27 at the Martin J. Whitman School of Management. The competition, presented by the Kuhn Real Estate Center with support from CoreOne Industrial, challenged students to determine the “highest and best use” for the property, considering market demand, financial feasibility, historic preservation, zoning, sustainability and community impact. 


A total of $20,000 in cash prizes was awarded to the finalist teams, reinforcing the competition’s role as one of the Whitman School’s premier experiential learning opportunities in real estate. 


“This competition pushes students into the kind of complex decision-making they will face in their careers,” says Erin Draper, director of experiential programs at the Whitman School. “The confidence and sophistication these teams demonstrated, after weeks of mentorship from our alumni network, is a testament to the power of experiential learning at Whitman.” 


12 undergraduate teams entered the competition. Each cross-disciplinary team of three to five was required to have at least one Whitman student in the group. Students studied all aspects of the property, analyzing market conditions, zoning, financial feasibility, sustainability and community needs to develop their redevelopment proposals. 


Each team created an initial redevelopment plan that was reviewed by a volunteer committee of real estate professionals who devoted significant time and expertise to assess the proposals and select the top five. Abstract reviewers included Jacob Kurosaki ’10, real estate research and strategy, MetLife; Nathan Scuderi ’17, director, The Widewaters Group; Stephen Scuderi ’15 (A&S/MAX), president, Pyramid Brokerage Company; Zach Regenstein ’19, senior associate - Investments, Secure Properties; and Mike Dunyk, adjunct instructor in Whitman’s real estate program. 


Once selected, the five finalist teams were each paired with an industry mentor to guide their preparation of detailed presentations and executive summaries. Mentors who volunteered their time and expertise included Will Weinstock ’07, director, Portfolio Management, Barings (Boston); David Schwartz ’99, co-founder and principal, Slate Property Group (New York); Jason Isaacson ’97, president, IP Capital Partners (Miami); Emily Eppolito ’14 M.S., first vice president, CBRE (Washington, D.C.); and Brian Gladstone ’17, partner, WHP (Mountain West). 

The five finalist teams were: 

Coxed Pair Development: Benjamin Campbell-Reide ’26, Ethan Graham ’26 and Samuel Felipe Fernandez ’26 (NEW/MAX) 


Salt City Development: Quinn Conway ’26, Hung Tram ’26 and Max LaBianca ’26 


Limitless Ventures LLC: Riley Love ’26, Sophia DeRollo ’26, Hans Pedersen ’26 and Gabriella Dyjach ’26


The Closing Crew: Samantha Greenberg ’27 (ARCH), Dylan D'Amelio ’27 (FALK) and Gabriella Ramirez ’26 


Equity Elevation: Hailey Gifford ’27, Isabel Gabriel ’27, Kami Bremer ’27 and Hannah DeOrsay ’26 (A&S) 


On the day of the competition, each team presented to a distinguished panel of judges with diverse real estate expertise: Asher Flaum ’02 (FALK), president, Flaum Management Company; Milena Petrova, professor of real estate and finance at the Whitman School; Christine Stevens, president of construction, VIP Structures; Rey Sully ’10 MBA, president, Sully Development; and Keir Weimer ’11, founder and CEO, Weekender Hotels. 


After extensive deliberation, the judges selected Coxed Pair Development as the first-place winners ($7,500) for a mixed-income adaptive reuse featuring 36 residential units and three commercial spaces, including a golf simulator lounge, a premium restaurant and a fitness studio. The team leveraged a layered capital structure combining Federal and State Historic Tax Credits with Low-Income Housing Tax Credit equity to deliver seven affordable units while minimizing sponsor exposure. 


Second place ($5,000) was awarded to Salt City Development for a 70-key boutique hotel with a restaurant, bar and flexible event venue. The team’s "Syracuse Through Time" concept dedicated each floor to a chapter of the city’s history, positioning the property as an experiential alternative to flagged hotels and addressing the region’s need for additional lodging capacity ahead of Micron-driven economic growth. 


Limitless Ventures LLC received third place ($3,500), the team repositioned the building as a modern Class A office destination with ground-floor restaurant and fitness uses, a 56-desk co-working hub, professional office suites, and two penthouse office levels designed to attract the region’s growing professional workforce. 


The Closing Crew and Equity Elevation each received honorable mention ($2,000 each). The Closing Crew proposed a mixed use facility including a daycare center, small-business incubator offices and upper-floor apartments. Equity Elevation envisioned a mixed-income residential hub with affordable housing, a childcare center and a fresh food market. 


To celebrate their hard work and dedication, cash prizes were awarded to each of the finalist teams, including those receiving honorable mention. 


The second annual competition and awards were made possible through the generous support of Joe Burton ’01 of CoreOne Industrial. CoreOne Industrial is a privately held real estate investment firm specializing in the acquisition, redevelopment and management of properties throughout the United States. The company was founded in 2020 by Burton, who graduated with degrees in marketing and entrepreneurship and emerging enterprises and has continued to serve his alma mater through philanthropy and mentorship since graduation.  



CoreOne Industrial returned as a sponsor of the competition for the second-year running, further cementing its role in advancing the Kuhn Real Estate Center. By championing these programs, CoreOne Industrial continues to play a pivotal role in Whitman’s Transformation 2030 mission to provide students with an unparalleled educational experience. 



“This competition continues to demonstrate the exceptional talent and dedication of our undergraduate students,” says Adam Fumarola, professor of real estate practice and executive director of the Kuhn Real Estate Center. “The quality of analysis, creativity and professionalism displayed by all five teams was outstanding. Each group benefited from the mentorship and feedback of accomplished Whitman alumni and industry professionals, reinforcing the experiential learning opportunities that define the Whitman School.” 


For more information on the Whitman School’s Real Estate program, visit https://whitman.syracuse.edu/academic-areas/real-estate.