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Trisha Parava, Founder and CEO is a finance professional, business executive, and a successful entrepreneur. She is best known as the founder of Fashion Week, Incorporated (FWI). As an adolescent, Ms. Paravas created her first entrepreneurial startup by developing a textile company and successfully exited by selling to a major competitor. Subsequently, Ms. Paravas was awarded a full scholarship and acquired an MBA in business and marketing. Upon graduation, Ms. Paravas worked on Wall Street in numerous senior management roles for over a decade, specializing in various financial products such as credit risk, market risk, derivatives, the Dodd-Frank Act, and U. S. Securities Exchange Commission (SEC) violations.

In 2013, Ms. Paravas founded FWI in New York City to produce fashion shows after realizing that the current state of New York fashion shows were invitation-only and designed solely for industry professionals and media. Despite being a fashion industry outsider, Ms. Paravas created an innovative, niche category in the fashion shows arena by creating “consumer fashion shows” and releasing them directly to the public (prior to any social media app era), and created history by breaking the norm of the 60-year-old American fashion industry.

Resulting the unprecedented success of these shows, Ms. Paravas realized she had a hit concept on her hands. The savvy business executive continued with her success attracting prominent fashion designers and corporate sponsors’ attention. Subsequently, Paravas had a successful exit from FWI and launched Roche Investors, a Real Estate Development company.

Following a successful exit from Fashion Week Inc (FWI), where I introduced a niche concept of opening fashion shows directly to the public, I found myself seeking the next phase of my career. Having grown bored with both the financial and fashion industries after mastering their nuances, I yearned for a new challenge to stimulate my intellect and expand my horizons.

Driven by a fascination with Manhattan’s towering skyscrapers, I ventured into the realm of real estate development, despite having no prior connections or experience in this field.

Recognizing the need to differentiate myself in Manhattan’s highly competitive real estate market, I identified underdeveloped part of Manhattan, NY. Harlem as a viable entry point. I invested my own resources to establish Roche’s launch project, having been rejected by nearly 100 lenders due to my lack of real estate experience. They said I had an impressive professional credentials yet, no real estate experience. To address this, I completed seven projects within six months, gaining the necessary experience to secure larger projects for Roche’s launch. This intensive period involved working 15-16 hours a day, six days a week, for four to five years strait to master the real estate business nuances.

Innovative by nature, I conceptualized Roche Real Estate Development with a novel approach aimed at the middle market demographics. Observing that established firms primarily cater to the wealthy, I saw a gap in the market where middle-income segments were underserved. Current developers often compromise on quality, style, finishes and amenities for these segments, a practice I identified as a gap in the real estate segment and created a niche market category yet again. Thus, I devised a new concept to offer luxury at accessible prices, setting Roche apart as a trendsetter in the industry.

Roche Residencies aims to provide luxurious, 5-star hotel-style condominiums at reasonable prices for the middle market. Our vision is to offer the same level of opulence to millennials, Gen Z, and Gen X—who are advancing in their careers and deserve high-quality living spaces—without the exorbitant costs typically associated with luxury real estate.

In summary, Roche Real Estate Development is dedicated to delivering exceptional value and luxury to the middle market, pioneering new standards and redefining norms within the New York real estate sector.

Most interesting career break through and lessons.

When I founded Fashion Week Inc (FWI), I faced considerable skepticism, yet I found a sense of satisfaction when I ultimately exited the company on my own terms. Similarly, when I launched Roche Real Estate Development, I encountered significant resistance, it’s primarily a male dominated industry and I was refereed as a very attractive woman and a pretty face but no one took me seriously with 100 lenders rejecting my applications due to my lack of experience in real estate, despite my distinguished career in finance from Wall Street and fashion company where I made history by breaking the norm of American fashion industry. Nevertheless, I now find myself with the same sense of accomplishment, having prevailed against the odds.

Paravas emphasized – “Experience is not something one is born with; it is acquired through perseverance and resilience”. Despite numerous setbacks and extremely challenging circumstances, I stood firm and emerged stronger. Today, I take pride in being the first successful self-made woman developer in Manhattan, demonstrating that determination and innovation can overcome even the most formidable challenges.

Next exciting new projects – Studio 69

My next acquisitions for condominiums, followed by a hotel development in Harlem, is currently underway and is poised to become a significant legacy project. “Studio 69”. I intend to raise private equity capital to ensure the project is both innovative and unparalleled in the city. This ambitious endeavor is already in the conceptual phase, which I initially envisioned on my birthday in 2023 to create a new legacy for New York ultimate city in the world, and my company has already acquired its trademarks.

Given the project’s scale and unique vision, it is expected to appeal to high-net-worth individuals who seek exclusive opportunities.

Think outside the box: My staple

Roche Residencies aims to develop luxurious 5-star hotel-style condominiums at reasonable prices, specifically designed for the middle market. Our offerings include premium amenities such as housekeeping, fully furnished suites, and curated artwork from around the world, ensuring that luxury is accessible to a broader demographic.

Current real estate developers primarily focus on the wealthy, neglecting the middle market, where millennials, Gen Z, and Gen X, though unable to spend millions, still deserve high-quality living environments. Roche Real Estate Development addresses this gap by providing the same level of luxury at reasonable prices, redefining market expectations and setting new standards for middle-market housing.

Entrepreneurships start

My first successful textile company as an adolescent played a pivotal role in mentoring me during the early stages of my entrepreneurial journey. As I launched my first business in India at a young age, running a business provided invaluable experience and confidence. My approach was characterized by strict discipline and high expectations I set for myself. My rigorous standards and work ethic profoundly shaped me, contributing to the rapid growth and success of my business, which expanded from a single employee to over 80 employees within an year. It is this foundation of discipline and strong work ethic instilled that has shaped me into a resilient and effective leader in USA.

The Real Estate industry, less than 20 percent of senior positions in Real Estate companies are held by women. In your opinion or experience, what do you think is the cause of this imbalance?

The real estate development industry is notably male-dominated, and I am recognized as one of the only self-made real estate developers in Manhattan, New York and perhaps across all 50 states of America the industry is extremely capital-intensive and complex, characterized by high stakes and multimillion-dollar investments. Everything runs in millions, and you are required to bring few millions on to the table to get a start in this industry.

As a single individual without family background nor connections, I have dedicated 15-16 hours a day over the past four years to launch this real estate development company. This level of commitment is challenging for women with families, given the demanding and high-risk nature of real estate development. Plus, entry bar is very high, one must bring few millions to get a start.

The role of a real estate developer involves substantial responsibility and risk, requiring not only exceptional intellectual capacity but also a thorough understanding of financial concepts, risk mitigation, and legal matters. My expertise in contract law and litigation, coupled with my ability to make strategic decisions, strong business and legal acumen, innovation is crucial in this field, where every decision is legally intricate. Entry into this real estate industry is extremely high barrier due to millions and its a high stakes game.

Furthermore, as a woman in this industry, I have faced significant challenges, including being underestimated and disregarded by teams such as architects and general contractors. Despite these obstacles, I have demonstrated resilience and leadership, ultimately asserting control over my projects and project deliveries.

My background has uniquely prepared me for this demanding field. My Wall street experience working with CFO’s, and managing high stake projects I developed a strong sense of self-reliance and resilience. Next in the fashion industry going against large American institutions prepared me further to stand up taller and stronger. These experiences have equipped me to handle the rigorous demands of real estate development, including navigating legal disputes and securing favorable outcomes in various courts. This sector remains particularly challenging for women, requiring both physical and mental fortitude to manage the inherent risks and make judicious decisions consistently. Thus, its deemed one of the most challenging sector for women especially should one aims to be a real estate developer.

What 3 things can be done by a)individuals b)companies and/or c) society to support greater gender balance going forward?

Real estate development companies should actively promote and train women to become developers, while men in the industry must also support and advocate for their female colleagues. During the construction of my first project, I encountered significant challenges, including attempts by my team to undermine my authority. For instance, my architect publicly lashed out at me when I challenged schedule delays in front of the labor staff, and although my general contractor acknowledged the inappropriate behavior, he did not have the courage to stand up for me. Consequently, I had to sever ties with both individuals and their corporations. I simply do not tolerate nonsense, I made it explicitly clear that they are subcontractors engaged by my corporation, operating under my direction. This is my brand, and I am solely responsible for its vision, and execution. I further emphasized that I am in charge and made it clear that they work for me, and report into me.

It is also crucial for society to create more opportunities for women in construction roles. During my observations of various development sites, I noted a severe underrepresentation of women—less than 0.2% at several sites I passed by. However, women have demonstrated strong capabilities in project management, consistently meeting schedule targets and managing projects efficiently. Moving forward, I plan to hire a female project managers for all my construction projects, recognizing the unique strengths and contributions women bring to the industry as efficient executors.

In your opinion, what are the biggest challenges faced by women executives that aren’t typically faced by their male counterparts?

In the real estate industry, there is a prevailing attitude among some men that they possess superior knowledge and expertise, which is often unfounded. As a newcomer to the field, I have gained considerable expertise in certain areas, surpassing even that of my general contractor. Although I am a female executive in real estate and did not gain experience working in other real estate developer family offices, having transitioned from a financial background, I can speak to a broader issue.

In general, my experience has shown that many men in the construction sector lack proper education and tend to undervalue the contributions of women. This bias is counterproductive and fails to recognize the significant expertise and insight that women can bring to the industry.

Can you share 3 things that most excite you about the Real Estate industry?

• Each building project is unique and innovative, presenting new challenges and excitement with every development.

• The real estate development industry operates at high stakes and often involves a pronounced element of ego.

• The opportunity to create a building that will endure for a century, make a significant impact within the 13 miles of Manhattan, and become a part of the city’s historical fabric is an unparalleled achievement. The ability to drive past and proudly declare, “I developed this building,” provides an immeasurable sense of accomplishment and surpasses all expectations.

Can you share 3 things that most concern you about the industry? If you had the ability to implement 3 ways to reform or improve the industry, what would you suggest?

The real estate industry can, in some respects, be characterized by a prevalence of unethical behavior, including deceit and corruption at various stages of the business. This sector often operates with significant unregulated blind spots, and there is a pressing need for increased compliance and tighter regulations, particularly concerning hard money lenders.

Change is imperative. Private equity firms and institutional banks must genuinely support women developers, as many currently make commitments on their websites that are not reflected in their actual practices. They fail to walk the talk.

In my own experience seeking funding, I encountered deeply unprofessional behavior. I was introduced to an investor of Peloton, a deeply unattractive, short man, with a pot belly invited me to his residence at Trump Tower late in the evening and offered to arrange a car service at 11:00 PM EST, which I respectfully declined. I insisted on meeting him during business hours at his office. Upon arrival, he made inappropriate and offensive remarks, including stating, “men are meant to [FUCK many Women].” While he acknowledged my passion and entrepreneurial spirit, his conduct was wholly unacceptable and unprofessional. Such behavior must be called out and eliminated from the industry when woman entrepreneurs seek funding for corporation’s growth.

I am not up for sale, my corporation is seeking investment to accelerate its growth.

What advice would you give to other leaders to help their team to thrive?

Experience in the financial industry, coupled with a strong legal background, a tenacious attitude, and the capacity to make sound judicial decisions, is essential for navigating the daily challenges of real estate development. Success in this field demands both physical and mental fortitude. To manage the intense pressures associated with being a developer, I engage in weight training 3 to 4 times a week. The role entails operating in a high-pressure environment from the inception of a project through to its sale, necessitating robust personal resilience and superior intellect.

Ok, here is the main question of our interview. You are a “Real Estate Insider”. If you had to advise someone about 5 non intuitive things one should know to succeed in the Real Estate industry, what would you say? Can you please give a story or an example for each?

ï‚· Utilize your instincts in the hiring and firing process: Trust your intuition when making decisions about hiring and terminating employees or contractors.

ï‚· Address issues promptly: Terminate employees at the first indication of a mistake, as safety is paramount in the construction industry.

ï‚· Ensure team experience: It is critical that the team is well-experienced, as inexperience can lead to significant risks and potential losses in construction and project execution.

ï‚· Maintain objectivity: Remove emotions from business decisions, as the real estate development industry is unforgiving and demands a tough, pragmatic approach.

ï‚· Master your financials: Have an in-depth understanding of the numbers for each project, almost instinctively, as this skill helps in identifying potential risks. Such expertise is gained through professional experience, overcoming extreme adversities, and rising above challenging circumstances.

Because of your position, you are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be?

As the successful Founder and CEO of a profitable real estate development company, where revenues are in the millions, I am motivated to make a significant impact beyond my business achievements. While my company generates substantial profits, I recognize that doctors play a crucial role in saving lives. During the pandemic, medical professionals led the world in safeguarding humanity.

Having been born in India and migrated to the United States with only $180 to pursue my education, I am committed to giving back to India. I intend to sponsor the education of and personally mentor 100 medical students from India. This initiative reflects my desire to contribute meaningfully to the younger generation and support the future of healthcare in India. It will be my way of giving back to the country that shaped my beginnings. This would be my gift to India.

I hope that by sharing my journey, I have broken barriers and provided inspiration to children in India and around the world. If my story can instill hope in even one child, demonstrating that it is possible to be self-made and overcome any challenges life presents, I would consider this achievement immensely gratifying.