LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
BRIARCLIFF MANOR—Michele Johnson has been named Chief Financial Officer at locally-based independent real estate brokerage firm J. Philip Real Estate. In this position she will be responsible for the brokerage’s financial matters, including budgeting, reporting, statutory compliance, forecasting and company planning.
Johnson has more than 35 years of financial and management experience. For the past 17 years, she has owned and operated Mercury Business Associates, a bookkeeping company in Norwalk, Ct. Johnson will continue to maintain her business while serving as CFO at J. Philip Real Estate.
“For the past five years, Michele has been a top vendor, providing outstanding bookkeeping services and strategic financial advice to our brokerage,” says J. Philip Faranda, founder of J. Philip Real Estate. “It was a natural next step to name her Chief Financial Officer because she is intimately familiar with our brokerage, is exceptional at her work and understands what is needed to further grow J. Philip Real Estate into a multi-million-dollar business.”
Previously, she held corporate finance and management positions at Chrysler Corporation and Bruce Campbell Dodge in Detroit. Earlier in her career Johnson served as a bank auditor at NCNB in Charlotte, NC.
She graduated from the University of North Carolina with a Business of Science degree in accounting and earned a Master of Business Administration in finance from Indiana University.
“Although I have worked for J. Philip Real Estate for the past several years, my new position as CFO will give me the opportunity to expand the financial services I am offering, work closely with management to set a strategy for the future and get to know the outstanding agents and staff that make this company so terrific,” says Johnson. “It is an exciting time of growth for J. Philip Real Estate, and I am delighted to be joining the management team.”
Founded in 2005, J. Philip Real Estate serves all of Westchester and Putnam, as well as nearby Rockland, Orange, Dutchess,and Fairfield (CT) counties. The brokerage is also the exclusive Westchester member of Leverage Global Partners, a global network of luxury real estate brokerages.
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