The Crexi Commercial Real Estate Podcast | CRE Insights & Strategies Patrick Carino on Ground-Up Multifamily and the Art of Deal Sourcing
Patrick Carino shares how he sources ground-up multifamily deals, navigates Northeast development, and built DealNav out of his Excel frustration.
The Crexi Podcast connects commercial real estate (CRE) professionals with industry insights built for smart decision-making. In each episode, we explore the latest trends, innovations and opportunities shaping commercial real estate, because we believe knowledge should move at the speed of ambition and every conversation should empower professionals to act with greater clarity and confidence.
In this episode, host Shanti Ryle sits down with Patrick Carino, Vice President of Development at the NRP Group, to discuss the latest trends, insights, and strategies shaping multifamily development across the Northeast. They explore Patrick's unconventional path into real estate — starting with punch lists in high school — through his years at CBRE and into his current role sourcing and executing ground-up developments across New York, New Jersey, Connecticut, and Massachusetts.
They also delve into Patrick's strategic approach to cold outreach and job hunting, the nuances of buying land that is subject to approvals, and what macro forces are reshaping deal economics today. Patrick also shares the origin story of DealNav, the map-based CRM he built for himself that accidentally became a product — and why he believes a human touch is still best for finding deals.
- Guest Introduction: Patrick Carino
- Starting in Real Estate in High School
- From Spec Homes to Multifamily Leasing
- Studying Real Estate at UConn
- Landing at CBRE's New York Institutional Group
- Learning the Market Through Deal Volume
- A Strategic Approach to Job Hunting and Cold Outreach
- How to Stand Out in Networking Conversations
- The Role Patrick Built at NRP Group
- Specialist vs. Generalist Models in Development
- How NRP's Teams Collaborate Across the Deal Lifecycle
- Deal Sourcing Criteria: Land, Size, and Approvals
- Buying Subject to Approvals — and Why It Matters
- Three Ways Patrick Sources Deals
- What Can Make or Break the Entitlement Process
- How Rates, Tariffs, and Regulations Affect the Northeast
- Market-by-Market: New York, New Jersey, and Massachusetts
- What Keeps Patrick Up at Night — and What Excites Him
- Why Passion and Patience Are Essential in Development
- The Origin Story of DealNav
- Building a Simple, Map-Based CRM for Deal Tracking
- How Twitter Led to an Accidental Product Launch
- DealNav's Roadmap: Custom Fields, Map Features, and Integrations
- Why DealNav Doesn't Use AI — and Why That's Intentional
- Rapid Fire: Investment Picks, Worst Advice, and Parting Wisdom
For show notes, past guests, and more CRE content, please check out Crexi’s blog.
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About Crexi:
Crexi is reimagining commercial real estate with an AI-powered platform built to deliver smarter, more efficient solutions at every stage of the deal lifecycle. From real-time data and market insights with Crexi Intelligence, to targeted property marketing and seamless deal management through Crexi PRO, and a transparent, time-bound bidding experience with Crexi Auction— Crexi enables users to evaluate opportunities, maximize exposure, and close with speed and confidence. To date, Crexi has subsidized over $2.74 trillion in property value, 26 billion square feet listed, and supports a growing community of more than 23 million yearly users.