Executive Managing Director • United States
Richard Marchitelli is an Executive Managing Director and the Dispute Analysis & Litigation Support Practice Leader for Cushman & Wakefield’s Valuation & Advisory group, based out of Charlotte. Since joining Cushman & Wakefield in 2003, Richard’s practice has been focused on applied research, property economics, unusual valuation problems, complex litigation, damages theory, and real estate industry standards and practices.
Richard has prepared expert reports in matters involving economic damages, breach of contract and breach of fiduciary duty, toxic torts and detrimental conditions, construction defects and construction delays, shareholder disputes, class certification, and lender liability. Additionally, he has served as a sole arbitrator and as a member of arbitration panels.
Ricard has provided consulting and valuation services involving challenging and unusual properties such as the High Line, an elevated rail corridor in Manhattan that has been converted into an urban park; development restrictions on properties surrounding McCarran Airport in Las Vegas; the Baltimore Sun newspaper printing plant; the Trans Alaska Pipeline; a mixed-use development site in Lima, Peru; the Hancock Center Observation Deck in Chicago; an 1,800-mile underground pipeline easement extending through six western states from Texas to Oregon and Nevada; a submarine manufacturing and maintenance complex; the Nordstrom’s Department Store leasehold in San Francisco; BP headquarters building in Houston; Rockefeller Center in New York; an oil drill site on the North Slope of Alaska; Co-op City, a 15,000-unit residential complex with three shopping centers in the Bronx, New York; a luxury condominium resort on St. John in the U.S. Virgin Islands; and mixed-use development properties in Guadalajara and the Puerto Vallarta area of Mexico.
Ricard has testified in arbitration proceedings at the International Centre for Settlement of Investment Disputes in Washington, D.C., and has qualified as an expert witness in United States District Court, United States Tax Court, United States District Court of Federal Claims, United States Bankruptcy Court, and in various state and local courts, including Alaska, California, Georgia, Florida, New York, North Carolina, Pennsylvania, Texas, Virginia, and Wisconsin. He has also been a court-appointed third-party expert in matters involving the valuation of real property.
Ricard is a former Adjunct Assistant Professor of Real Estate at New York University in the Masters of Science in Real Estate program where he taught courses in real estate valuation principles and concepts and feasibility studies. For 20 years, he taught courses nationally on the Uniform Standards of Professional Appraisal Practice.
Ricard has authored articles published in The Appraisal Journal, Real Estate Issues, Real Estate Forum, Appraisal Digest, and The Canadian Appraiser. He was a reviewer of the 9th, 10th, 11th, 12th, 13th, and 14th editions of The Appraisal of Real Estate and, as a subject matter expert, supervised publication of the 9th and 13th editions of that text. He was a reviewer of the 1st through 6th editions of The Dictionary of Real Estate Appraisal and supervised production of the 1st and 5th editions. In addition, Ricard has served as a reviewer of various other texts and monographs published by the Appraisal Institute and as a reviewer of several courses developed by that organization. He is also co-author of a chapter on the valuation of pipeline corridors in Corridor Valuation: An Overview and New Alternatives published in 2019 by the Appraisal Institute, International Right of Way Association, and Appraisal Institute of Canada.
Richard was awarded the George L. Schmutz Memorial Award by the Appraisal Institute for his assistance in the publication of The Dictionary of Real Estate Appraisal.
He also received the Wagner Award from the Appraisal Institute, which is presented to individuals in recognition of their contribution to the advancement of valuation knowledge and education, and was the recipient of the Lum Award presented annually by the Appraisal Institute to individuals for furtherance of the ideals of the real estate valuation profession.
Bachelor of Arts, Political Science, Belmont Abbey College
Dispute Analysis & Litigation Support
- Appraisal Institute (MAI Designation)
- Fellow – Royal Institute of Chartered Surveyors (FRICS Designation)
- The Counselors of Real Estate (CRE Designation)
- American Bar Association (Associate Member)
- International Right of Way Association
Richard currently serves as a member of the Global Valuation Standards Board of RICS, the Publications Review Panel of the Appraisal Institute, and as a Topic Editor of Real Estate Issues. He formerly served as National Vice President of The Counselors of Real Estate, as a Director of the American Real Estate Society, and as Vice Chair of the Board of Regents and Dean of the Publications Board of the Centre for Advanced Property Economics. In addition, Richard is a past Editor-in-Chief of The Appraisal Journal and former Editor-in-Chief of Real Estate Issues. He served as Chair of the New York Metropolitan Chapter of The Counselors of Real Estate, President of the Metropolitan New York Chapter of the Appraisal Institute, President of the Long Island Chapter of the Appraisal Institute, and President of the New York Condemnation Conference. Richard is also licensed as a general real estate appraiser in several states. .
Article • Commentary
Article • Insights