Entrepreneurial Avenues with Green Energy Practices for 2013 Alumnus

Class of 2013 alumnus Jamie DeNicola built a transformative career as a broker in New York City real estate, but has shifted gears to tackle sustainability and energy efficiency challenges within the industry as the founder and chief revenue officer of Source Forward.

Founded in 2023, Source Forward aims to maximize property owners’ building profits with green energy practices to increase energy efficiency, comply with local laws, and maximize portfolio profitability.

“Source Forward was created to bridge this gap by providing innovative solutions, such as EV infrastructure and energy efficiency upgrades, while ensuring owners take full advantage of available tax and utility incentives,” said Jamie. “The goal is to help property owners enhance their buildings, achieve compliance, and contribute to a sustainable future without bearing the full financial burden.”

The incentive behind starting the business came from Jamie recognizing the growing challenges property owners face in New York City. With his experience and knowledge as a commercial real estate broker in Manhattan, he understood that the rising expenses and regulations in the multifamily market has made it difficult for owners to fund necessary improvements, often leaving properties vacant or under-maintained. Additionally, the city’s energy mandates and sustainability goals require significant upgrades that many owners can’t afford.

To begin the entrepreneurial process, Jamie and his business partners built out a plan with a focus on four key areas that included building strategic partnerships with energy solution providers and contractors, navigating government incentives and utility programs, developing innovative technology tools, and driving revenue growth through client relationships. With the blueprint, the team leveraged its network to bring in co-founders with the expertise to lead these efforts.

The business partnership begins with a consultation where the team meets with the property owners to discuss current needs and opportunities. The team evaluates energy, environmental, operations, and other necessary data to offer sustainable solutions before developing a tailored proposal. With approval, the team implements its design and applications and in return the owners benefit from the reduced energy costs.

Prior to Source Forward, Jamie worked for Cignature Realty Associates in Manhattan as a senior broker running the Upper East Side and Midtown East Investment Sales teams. He specialized in multifamily/mix-use investment sales and brokered building transactions for a broad range of real estate investors including single-property owners, institutional, and private equity investors. 

Transitioning professionally from a real estate broker to an entrepreneur, Jamie’s scope of work has evolved significantly. As a real estate broker, he was focused on representing property owners and buyers in transactions, providing insights into market trends, and facilitating the sale or acquisition of buildings. He still works with many of the same property owners, but now helps them tackle sustainability and energy efficiency challenges. He elaborated that his focus has shifted from “market representation to providing forward-looking solutions that enhance the long-term value and efficiency of their properties.”

Jamie graduated from St. Lawrence University in 2017 with a double major in economics and business. During his time in undergrad, he was a member of the Men’s Varsity Lacrosse Team. In 2023, he graduated from the NYU School of Professional Studies Schack Institute of Real Estate with a Master of Science degree in Real Estate Finance and Investments.

Jamie credits his time at Hamden Hall for learning the importance of responsibility and accountability, which is now reflexive in his professional career.

“With the small class sizes and supportive environment, I learned to take ownership of my work while meeting the expectations of others, which prepared me for the independence and discipline needed in college and professional pursuits,” said Jamie.

Jamie currently resides in Manhattan. Outside of work, he enjoys watching sports and catching live games, specifically hockey as a dedicated New York Rangers fan. He also said he feels fortunate to continually share his passion for real estate with his father, and the two collaborate on personal real estate projects in Connecticut.