Patrick Carino shares how he sources ground-up multifamily deals, navigates Northeast development, and built DealNav out of his Excel frustration.

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

Watch “Patrick Carino on Ground-Up Multifamily and the Art of Deal Sourcing” on YouTube

Patrick Carino joined The NRP Group in 2024 as a Vice President of Development. In this role he is responsible for sourcing and executing market-rate developments in New York, New Jersey, Connecticut, and Massachusetts.

Prior to joining NRP, Patrick had a similar role at a regional multifamily and hospitality firm leading the effort to expand geographically. Patrick started his career as a member of CBRE’s New York Institutional Group, where he was involved in the marketing and closing of several billion in investment transactions focused in the Metropolitan New York Tri-State region.

Patrick graduated from the University of Connecticut, majoring in Finance with a concentration in Real Estate and Urban Economics and a minor in Environmental Economics and Policy and is on the advisory boards of the Northern New Jersey and Fairfield/Westchester Urban Land Institute chapters.

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