Richard Marchitelli, MAI, CRE serves as Senior Managing Director for Newmark Valuation & Advisory and is based in Charlotte, North Carolina. Marchitelli is also the Litigation Support Practice Leader whose team focuses on applied research, property economics, unusual valuation problems, complex litigation, damages theory, and real estate industry standards & practices nationally.
Prior to joining Newmark, Marchitelli was the Leader of the Litigation Support Practices at both PricewaterhouseCoopers and Cushman & Wakefield.
Marchitelli 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, real estate industry practices, and class certification and lender liability issues.
Marchitelli has provided consulting and valuation services in disputes 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 Trans Alaska Pipeline; a mixed-use development site in Lima, Peru; the Hancock Center Observation Deck in Chicago; an 1,800-mile rail corridor and over 900 separate underground pipeline easements extending through six western states from Texas to Oregon and Nevada; a submarine maintenance and manufacturing facility in Groton, Connecticut; luxury condominium resort on St. John in the U.S. Virgin Islands; mixed-use development properties in Guadalajara and Puerto Vallarta, Mexico; an office/pharmaceutical manufacturing complex in Dublin, Ireland; and matters throughout the U.S. involving groundwater, radioactive waste, and airborne contamination.
Marchitelli has testified in arbitration proceedings at the International Centre for Settlement of Investment Disputes in Washington, DC, 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, South Carolina, Tennessee, Virginia, and Wisconsin.
Marchitelli is a former Adjunct Assistant Professor of Real Estate at New York University in the Master of Real Estate program where he taught post graduate courses in real property valuation and market and feasibility studies. He is also a frequent lecturer at conferences and other real estate industry venues.
Marchitelli has authored articles published in The Appraisal Journal, Real Estate Issues, Real Estate Forum, Appraisal Digest, and The Canadian Appraiser. He has also contributed to various texts and is the coauthor 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.
Professional Achievements
- George L. Schmutz Memorial Award – presented by the Appraisal Institute for Marchitelli’s role in the publication of the first edition of The Dictionary of Appraisal
- Wagner Award – presented by the Appraisal institute to individuals in recognition of their contribution to the advancement of valuation knowledge and education
- Lum Award – presented by Appraisal Institute to individuals for furtherance of the ideals of the real estate valuation profession
Professional Affiliations
- American Bar Association (Associate Member)
- International Right of Way Association
Licenses and Designations
- MAI designation, Appraisal Institute
- The Counselors of Real Estate (CRE designation)
- Licensed as real property appraiser in various states throughout the country
Education
Marchitelli earned his Bachelor of Arts in Political Science from Belmont Abbey College, (Who’s Who in American Universities and Colleges). He also completed post graduate courses in real estate at New York University, courses required for the MAI designation, and continuing education courses and seminars.