In the Zone with Fred Spataro, CFO of URBY

Published on July 13th, 2023

Updated on July 13th, 2023

In this episode, NFE's VP of Business Development, DJ McClure, had an incredible conversation with Fred Spataro, the CFO of URBY, delving into their growth journey, expansion plans, and how they're breaking barriers in luxury rentals across the country and potentially overseas!

Fred shared his extensive experience in the real estate sector, from financial and risk management to construction and contract management. But what caught our attention was his role as CFO of Ironstate Development, now URBY, where flood zones can play a crucial part in risk assessment and the bottom line.

Fred and NFE Account Representative, Vanessa Sardi, connected over two years ago when she contacted him about one of URBY's properties in a flood zone. Skepticism turned into trust as Vanessa successfully helped URBY with a letter of map amendment, and since then, they've become an unstoppable team!

Fred revealed that with NFE's expertise, they've achieved massive savings, totaling nearly $200,000 annually across seven projects! These savings bolster their bottom line and add exponential value to their projects, estimated from $3 to $4 million!

We were pleased to hear that working with Vanessa and the rest of our team has been a pleasant and professional experience for Fred. This collaboration has impacted URBY's underwriting process and acquisition strategy. They now proactively engage NFE from the early stages of project design, exploring options for letters of map amendments and premium mitigation.

We're grateful to Fred and URBY for their trust and continued collaboration. Thank you for being part of our success story!

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