Peter Bazeli is a Principal and Managing Director of Weitzman. He joined the firm in 2004, and has since consulted on real estate assets valued at well over $60 billion, often performing a critical ongoing role in a property’s successful development and investment strategy. Working with both developers and investors, he specializes in the creative conceptualization of development opportunities, market-based development planning, market research and feasibility, and project management for residential and mixed-use developments. While focusing particularly on luxury, branded, and hotel-serviced housing, he also has significant experience with adaptive re-use and landmark properties, including the Waldorf Astoria New York, where he has remained a central member of the development team since the project’s inception in 2015.
Among properties large and small, Mr. Bazeli brings a developer’s mindset to each engagement. He helps clients mitigate risk by working collaboratively with developers, investors, designers, and marketing agencies to formulate the most compelling offering to the market, creating one-of-a-kind assets with unique appeal and limited direct competition. He is able to build effective arguments based upon market research, articulate a compelling vision for a property based upon his deep experience, and rationalize financial feasibility and investment objectives from the mindset of a capital partner.
Mr. Bazeli consults on new developments nationwide, in markets big and small. He has consulted collaboratively on over 500 assets, more than 400 of which have been residential or mixed-use projects. These include more than 300 condominium developments alone, with many being top-of-market luxury projects. His experience nationwide has included properties branded by Four Seasons, Ritz-Carlton, St. Regis, Waldorf Astoria, Mandarin Oriental, The Setai, Canyon Ranch, Miraval, Gansevoort, and numerous world-class design talents.
Prior to joining Weitzman, Mr. Bazeli was an Assistant Vice President and officer of Draper and Kramer, Incorporated, a privately-held real estate firm engaged in the acquisition, financing, development and management of commercial and residential property nationwide. Mr. Bazeli began his career as a research analyst supporting the firm and its clients, including the AFL-CIO Building Investment Trust, State Farm, and JPMorgan. He then joined Draper and Kramer's Retail Services Group, where he was responsible for the leasing of a 500,000 square foot portfolio for Draper and Kramer and third-party clients including Simon Property Group.
Mr. Bazeli next joined the Acquisitions and Development group at Draper and Kramer to assist on a variety of initiatives, including the due diligence, acquisition and conversion of more than 3,000 rental apartments in Chicago, Miami, Boston, and Denver. He was instrumental in the acquisition, capitalization, strategic vision, and adaptive re-use development of the landmark Palmolive Building on North Michigan Avenue into condominiums. Mr. Bazeli either directed or was intimately involved with every aspect of the Palmolive Building's development, including the creation of its flagship retail environment anchored by Louis Vuitton, and formulated and directed the Palmolive Building’s game-changing marketing effort.
Mr. Bazeli regularly collaborates with legal counsel on real estate litigation strategy, expert reports and witness critique. He is a member of the Royal Institute of Chartered Surveyors (MRICS Designation). He has been a guest speaker at the Chicago Real Estate Council, the Chicago Architecture Foundation, the NYU Schack Institute of Real Estate, Cornell University, Northwestern University, the Taubman College of Architecture and Urban Planning at the University of Michigan, Bradley University, and Furman University, in addition to speaking to civic groups about the importance of competent market research in real estate and business.