Forest Hills-based Cord Meyer Development Company, one of the oldest and largest developers in the New York metropolitan area, has announced a new leader.
Matthew Whalen was named president and chief executive officer of the company, succeeding Sal Panico, who retired in April after 18 years of service to the company and currently serves on the Cord Meyer Board of Directors.
“It’s an honor to join an organization with as rich a history as Cord Meyer Development Company,” Whalen said. “Cord Meyer not only developed Forest Hills and other communities in the early 20th century but has continued to innovate to this day, bringing to market significant office, retail, and residential properties throughout Queens. With an impressive management team in place, a culture that wins respect from tenants and brokers alike, and a solid asset base, Cord Meyer is well positioned for future growth. I look forward to exploring the full spectrum of development opportunities with the company and its shareholders.”
Whalen most recently served as senior vice president of development at AvalonBay Communities Inc., where he was responsible for leading the Arlington, Virginia-based real estate investment trust’s development and acquisition activity across Long Island, Westchester and Connecticut, bringing more than $1.5 billion of new rental development and more than 5,000 apartments to those markets.
“Matt brings to Cord Meyer unprecedented development expertise and extensive knowledge of the regions real estate markets,” Cord Meyer Chief Operating Officer Anthony Colletti said. “He is a highly respected innovator who helped transform the residential rental landscape during his impressive two-decade tenure at AvalonBay. With our own history of landmark development in Queens and Long Island, we look forward to an exciting future with Matt.”
Over the past 30 years, Whalen has worked in many different sectors of real estate, including multifamily, office, industrial, hospitality and single family. He retired from AvalonBay in June 2018.
“My experience at AvalonBay was beyond rewarding and I have only praise for my many friends there,” Whalen said. “Now it’s time to embark on a new chapter of my career and Cord Meyer Development Company hold unlimited opportunity. It’s an exciting period in the life of this esteemed real estate company and I look forward to being part of the team that moves Cord Meyer into the next phase of development in Queens and beyond.”
Incorporated in 1904, Cord Meyer sets the standard for real estate development throughout Queens. In addition to prestigious commercial and retail properties, including The Bay Terrace Shopping Center, the company is responsible for the development of award-winning apartment building, single family homes, and the high-rise condominium projects The Windsor at Forest Hills and The Aston.
Current residential development includes Bay Lane Estates, 33 two-family townhouse in Bayside. Richard W. Meyer Jr., Cord Meyer Development Company Chairman, said, “The addition of Matt Whalen signals our company’s commitment to the future and we are delighted to have Matt on board to lead the company going forward.”