• real estate appraisals
  • business appraisals
  • appraisal reviews
  • valuation
  • counseling
  • litigation support
  • and of course, souvenir buildings


Since being founded in 1994, Greenwich Realty Advisors Incorporated (GRAI) has completed a significant number of domestic and overseas market studies, appraisals and consulting assignments, primarily for institutional and government clients. Most of our experience has been with relatively large, commercial and residential properties.


Our overseas activities comprise a significant portion of our business. We have been especially active in Eastern and Western Europe, Asia, Russia, Africa, the Middle East and throughout all of North and South America.


Areas of specialization include properties located outside the United States; valuations of real estate holdings of publicly-traded companies for private equity and investment funds; business valuations; appraisals of partial interests; student housing; and conducting educational seminars for domestic and overseas clients.

Get in Touch

where are our assignments from?


New York Area


Elsewhere in United States & Overseas

our team

Howard C. Gelbtuch, MAI, CRE, FRICS, AI-GRS

Howard C. Gelbtuch, MAI, CRE, FRICS, AI-GRS



Greenwich Realty Advisors Incorporated Principal (Since 1994)
Jones Lang Wootton USA Senior Director (1992-1994)
Coopers & Lybrand Director, Real Estate Advisory Services (1991-1992)
Morgan Stanley Realty, Inc. Director of Research (1990-1991)
Integrated Resources, Inc. Senior Vice President and Head of Real Estate Evaluation Department


Landauer Associates, Inc. Senior Vice President – Investment Analysis (1980-1984)
Metropolitan Savings Bank Assistant Mortgage Officer


Crossland Savings Bank Appraiser (1974-1976)


MBA in Real Estate Baruch College of the City University of New York (1977)
BS in Finance New York University School of Commerce (1972)

professional activities

CRE – Counselor of Real Estate
– Past National Chairman, Counselors of Real Estate
– Past Chairman, Counselors Consulting Corps
– Past President, New York Metropolitan Chapter
MAI   – Member, The Appraisal Institute
– Past Chairman, National Publications Division
AI-GRS – Appraisal Institute, General Review Specialist
FRICS – Fellow, Royal Institution of Chartered Surveyors.
One of the first 12 people in the United States admitted under the Eminent Professional program, reserved for a very limited number of the world’s leading real estate professionals
NAR – Past Member, National Board of Directors, National Association of Realtors
Member – The Real Estate Board of New York, Inc.
Series 7 Licensee – General Securities Representative, New York Stock Exchange, Inc. (1990 – 1992)
Real Estate General Appraiser – State of New York
Real Estate Broker – State of New York
Honoree – Percy and Betty Wagner Award for outstanding contributions to the advancement of appraisal education and knowledge, Appraisal Institute, 1994
Vicki Gelbtuch

Vicki Gelbtuch

Director of Research & Development


Greenwich Realty Advisors Incorporated Director of Research and Development (Since 1994)

get in touch

if you wish to contact us then please get in touch, click on the link below to send us an email, or give us a call.


Call our Office: +914 219 8800
Fax our Office: +914 219 8801

135 bedford road
new york