Highline Real Estate Advisors
About the Company
Highline Real Estate Advisors is a commercial real estate brokerage founded by Wayne Steinberg. The company specializes in tenant representation, meaning they exclusively work with tenants looking to lease office space rather than representing landlords. This unique approach gives the company a competitive edge, as it ensures fiduciary responsibility lies solely with the tenants, helping them find the best deals while negotiating lower costs. Highline’s services are free for the tenants, with the brokerage fees covered by the landlords, making the company’s offerings more appealing to clients.
The firm operates primarily in Long Island, NY, with additional markets in New York City, Westchester, and New Jersey. Steinberg's extensive experience in the region allows him to offer tailored advice for various types of tenants, including law firms, nonprofits, and medical practices. With nearly 100% net income due to low expenses, the business has proven to be highly profitable, and Steinberg aims to further expand its reach.
Idea Behind Company
Steinberg’s career started in film distribution, where he was responsible for financial analysis and talent contract negotiations. After Time Warner merged his company, he saw an opportunity to reinvent his career. Using his skills in cash flow modeling and contract analysis, he made a seamless transition to real estate, an industry that required creativity, persistence, and people skills. Steinberg found real estate to be a perfect entrepreneurial challenge, one that allowed him to apply his expertise in finance while building a new career.
The decision to focus on tenant representation came from a gap in the market. Many commercial brokers focus on relationships with landlords, but tenants often feel they are not fully represented. Steinberg saw an opportunity to create value by focusing exclusively on tenant needs, ensuring that they have an advocate who can negotiate better lease terms and reduce their overhead costs.
Creating the Company
The initial steps to create Highline Real Estate Advisors included designing a comprehensive website and partnering with an internet marketer to boost visibility. Steinberg collaborated with Jake, an SEO expert, to create a user-friendly site that showcases available office spaces and offers resources for potential clients. By using platforms like Wix, Steinberg was able to create dynamic listing pages for over 130 office buildings, from high-end luxury spaces to more affordable options.
Their marketing efforts were focused on reaching office space users who search online for leasing options. This digital-first strategy was designed to differentiate Highline from traditional brokers, who typically rely on existing landlord relationships. By providing easily accessible information and a streamlined contact process, Steinberg’s company is able to capture leads and nurture them through automated systems. This approach allows Highline to reach new audiences and expand beyond Long Island.
Launching the Business
Launching Highline Real Estate Advisors was driven by Steinberg's past relationships and networking. Before the COVID-19 pandemic, he relied heavily on networking events, conferences, and referrals to grow his business. However, as face-to-face interactions became more limited, Steinberg pivoted to digital marketing strategies, using SEO and Google Ads to generate leads. The website’s automated systems, powered by Wix, allowed for immediate responses to new client inquiries, further improving customer engagement and conversion.
Steinberg's early clients came from his extensive network, including a major deal that transitioned from his work with Real Estate Strategies, Inc. in Philadelphia. Referrals became a key source of business, as clients who experienced successful deals with Highline were more likely to recommend the firm to others. This grassroots approach, combined with a growing digital presence, enabled Steinberg to launch his business successfully and steadily increase his client base.
Earnings
Highline Real Estate Advisors generates between $300,000 and $400,000 annually, with minimal operating costs. The company’s primary expense is marketing, particularly through SEO and digital ads, but Steinberg has managed to keep other costs, like office space, at a minimum. For example, he operates out of a private office suite at no cost, due to the referral deals he brings into the building. As a result, Steinberg is able to take home nearly all of the business’s revenue as profit.
Looking forward, Highline Real Estate Advisors is positioned to expand into more states and markets. Steinberg has already established contacts across the country and expects to secure significant deals, such as becoming the exclusive real estate advisor for a medical practice that plans to open 20-40 offices nationwide. With this growth potential, Steinberg anticipates a prosperous future for his company.
