2021 Power 25 Real Estate: Mike Goman & Tom York

Mike Goman and Tom York are two stalwarts in Greater Hartford’s commercial real estate industry, having teamed up in 2011 to start their own firm, Goman+York Property Advisors LLC.

Goman oversees the firm’s governmental and institutional advisory practice and does work in Connecticut and around the country.

Locally, one of the biggest deals he’s been involved in over the past year was working with Goodwin University to develop a new commercial mixed-use building on South Main Street in East Hartford, a deal that represents the future of new development in the area.

Mike Goman

He’s also been involved with many industry associations, including playing a leading role in helping organize the annual UConn/Greater Hartford Association of Realtors CT Commercial Real Estate conference.

Goman says his “long-term view is that the Hartford regional market is very competitive and offers some attractive opportunities,” despite challenges facing the office market in the wake of the pandemic.

“The livable size of the market, the quality of life, the cost
competitiveness when compared to Boston and New York, and the overall diversity of the local economy all make a good case for existing and startup businesses to locate in the area,” he said.

York has been in commercial real estate for a quarter-century, formerly serving as a broker for CBRE before hanging his own shingle.

He oversees Goman+York’s brokerage division, and his biggest deal over the past year was representing WellSpark in its new 28,000-square-foot lease at 195 Scott Swamp Road in Farmington.

Tom York

His biggest career deal involved being on a team that handled MassMutual’s purchase of a 475,000-square-foot headquarters office building in Enfield for $27.5 million.

York — who holds a Society of Industrial and Office Realtors designation and is active in the Real Estate Finance Association, Greater Hartford Association of Realtors and a current member of the CT Commercial RE Alliance — has been on the frontlines of advising businesses throughout the pandemic.

He says COVID-19 has been the biggest event to impact commercial real estate during his career.

“For many businesses in the office sector, space adjustment is the major issue — they are questioning their needs and space strategies, how to accommodate the hybrid office, who’s coming back and at what rate, how to balance work-at-home strategies with the need to support a collaborative corporate culture, recruit and train new employees, and how to develop a pandemic response plan for the future,” he recently told Hartford Business Journal. “Our sense is that hybrid models will become a permanent characteristic of many office occupiers and we’ll likely see an overall reduction in office demand the next few years of about 15%, which is over 5 million square feet in the Greater Hartford market.”