NAHB Mourns Passing of David Reznick

Filed in Housing Finance, Multifamily by on January 10, 2015 0 Comments
resnick

David Reznick speaks after being honored with the Dan Grady Award in 2011. In the background: Stillman Knight (center) and 2011 NAHB Chairman Bob Nielsen.

NAHB mourns the passing of David Reznick, co-founder and chairman of the board of Reznick Group, P.C. Mr. Reznick, a resident of Potomac, Md., died on Dec. 31, 2014. He was 77.

The Reznick Group combined with J.H. Cohn in 2012 to form CohnReznick, now a top 20 CPA firm with offices nationwide and specializing in the affordable housing industry.

An industry legend and visionary, he was known for his tireless work to create and protect affordable housing. Born in 1937, Mr. Resnick founded Reznick, Fedder & Silverman with two childhood friends in 1977, bringing to that new firm his experience matching equity investors and developers to help both achieve financial success.

He helped thousands of disadvantaged families acquire housing and, along with their newfound residences, a greater sense of pride and dignity.

Mr. Reznick provided services to real estate clients including developers, syndicators and lending institutions. He often consulted in the areas of tax analysis and the structuring of major real estate syndications, and his advice was sought frequently on policy issues related to real estate and affordable housing.

He testified before the U.S. House of Representatives Subcommittee on Housing and Community Opportunity, giving recommendations on restructuring the Section 8 portfolio of FHA-insured mortgages. Clients of multifamily properties in danger of default called on him to provide advice on capitalization, in which he restructured debt and assets by bringing in new capital to preserve affordable housing.

Mr. Reznick was a longtime participant and supporter of NAHB’s Multifamily Council and its Housing Credit Group. He received the Council’s Dan Grady Award in 2011 in recognition of his 40-plus years of contributions to the affordable housing industry – one of dozens of awards and recognitions that acknowledge his professional, public service and philanthropic work.

Longtime multifamily member Stillman Knight described him as “the very best technical expert on HUD and multifamily” — high praise from someone who has served as Deputy Assistant Secretary for Multifamily at FHA and HUD. “I hired him as my accountant in 1971, and he became one of my best friends. He’s known and helped a huge number of people. He had a big heart, a wonderful spirit and a loving soul,” Knight said.

Mr. Reznick is survived by his beloved wife Sandra, their four children and nine grandchildren.

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