Executive Profiles

Stephen R. Karp

Chairman, Chief Executive Officer

Stephen R. Karp is a leading developer of shopping centers and mixed-use developments. He first entered the shopping center business in the late 1960's with the development of one of the first enclosed malls in the Northeast, which opened in 1972. He went on to found New England Development in 1978.

Mr. Karp is Past Chairman and current member of the Board of Trustees of the International Council of Shopping Centers and member of the Greater Boston Real Estate Board and the Urban Land Institute. He is Chairman of the Board of Trustees of Children's Hospital Boston and Trustee and Past Chairman of Children's Hospital Trust. He is on Board of Trustees of Boston University and Belmont Hill School and on the Board of Overseers for Newton-Wellesley Hospital and for the Boston Symphony Orchestra. He is a graduate of Boston University.

Steven S. Fischman

President and Chief Operating Officer

Steven S. Fischman, together with Stephen R. Karp, has overseen the expansion of New England Development into a multi-faceted real estate development and investment company. As President and General Partner, Mr. Fischman has worked not only on the many developments overseen by the company but has also overseen investments in other real estate and non-real estate activities. Prior to joining New England Development, Mr. Fischman was a partner at the Boston law firm of Goulston & Storrs where he specialized in real estate and finance law. He represented developers and owners of all types of real estate including shopping centers, hotels, office projects, housing projects and industrial properties.

Mr. Fischman is a member of the International Council of Shopping Centers, the Boston Bar Association, Lawyers Committee for Civil Rights Under Law, and Greater Boston Legal Services. He is a former director of Partners Healthcare System and serves as co-chair of their Real Estate Committee, Trustee Emeritus and former Chairman of the Board of Newton-Wellesley Hospital, Trustee of Kenyon College, and Trustee and Co-Chair of Bend the Arc: A Jewish Partnership for Justice. He is also a Board member of Jobs for Massachusetts, an Advisory Board member of General Catalyst Partners and a Director of Stag Capital Partners and Athena Capital Advisors. Mr. Fischman received a B.A. degree from Kenyon College and a J.D. from the University of Pennsylvania Law School. He served in the Peace Corps in Colombia, South America.

Douglass E. Karp

Executive Vice President

Douglass E. Karp is involved in all aspects of New England Development's business, including site acquisition, financing, permitting and planning, design, construction and leasing. He manages most of the firm's retail and mixed-use development projects and serves as asset manager for Nantucket Island Resorts, a collection of premier hospitality and retail properties on Nantucket and an affiliated company of NED. In addition to his development and asset management experience, Mr. Karp brings to NED the perspective of a retailer, including expertise in market research, real estate development, and marketing.

Prior to joining NED in 1999, Douglass co-founded Lids, the specialty retail pioneer and leader of officially licensed and branded athletic fashion headgear. Under his leadership, the firm grew to include more than 400 mall-based, airport, and street level stores throughout the country. Mr. Karp serves on the boards of Children's Hospital Trust Next Generation Developers Task Force, the Combined Jewish Philanthropies Next Generation Housing Foundation, Union College, the Massachusetts Chapter of NAIOP, the Board of Overseers for the New England Aquarium, and the Budget and Administration Committee of Combined Jewish Philanthropies. He received a B.S. degree from Union College.

Dawn K. Neher

Chief Financial Officer, Executive Vice President

Dawn K. Neher is responsible for all financial aspects of New England Development and has more than 25 years of experience in real estate financing, acquisitions and analysis. She is responsible for raising equity and debt for acquisitions and development, consolidating financial strategies for the firm, and developing new debt and equity relations. She is also in charge of banking and partnership relationships and is responsible for all aspects of NED transactions, from the underwriting, structuring, negotiating and closing of all transactions. Before joining NED, Ms. Neher served as senior vice president at Aetna Realty Investors where she specialized in acquisitions and joint ventures.

Ms. Neher’s professional affiliations include memberships in the International Council of Shopping Centers, Urban Land Institute, New England Women in Real Estate, National Association of Female Executives, The Boston Club, and Real Estate Finance Association. She received a bachelor's degree from the University of Hartford and a master's in business administration from the University of Connecticut.

Bruce M. Herman

Controller, Executive Vice President

Bruce Herman, CPA, is responsible for all accounting, financial reporting, investment and treasury management matters for New England Development and its portfolio of properties, including budget development, management reporting, financial controls, accounting, and financial analysis. During his tenure at NED, Mr. Herman has managed multiple reporting requirements and platforms for various joint venture partners and third party management contracts. He originally joined the company in 1983 following a career in public accounting. Prior to rejoining NED in 1990, Mr. Herman was chief financial officer at Liberty Properties in Boston.

Mr. Herman is a graduate of Bentley College and is a member of the American Institute of Certified Public Accountants, the Massachusetts Society of Certified Public Accountants and the International Council of Shopping Centers. He also serves on the Town of Needham Council of Economic Advisors, is President of the non-profit Needham Sports Council, Inc., and is currently on the Executive Board of the Needham Golf Club.

Armen D. Aftandilian

Executive Vice President, Real Estate Development

Armen D. Aftandilian is responsible for all development phases of New England Development’s retail real estate portfolio, including power centers, mixed-use developments, strip malls, and urban developments. He has more than 20 years of real estate development experience. Prior to joining New England Development, Mr. Aftandilian worked at Packard Development, a retail development firm based in Newton, MA. He established his career with nationally recognized engineering and development firms. During his tenure as chief operating officer at U.S. Properties, he led the development of residential and commercial projects including industrial, office and medical facilities.

Mr. Aftandilian is a cum laude graduate of Tufts University, with a degree in Mechanical Engineering.

Carol F. Carbonaro

Executive Vice President, Leasing

Carol F. Carbonaro is responsible for all aspects of retail leasing for New England Development’s retail real estate portfolio. She has more than 20 years of experience in the shopping center industry leasing a diverse mix of properties including enclosed regional malls, lifestyle centers, mixed-use, centers, strip centers, outlet centers, airports and downtown street locations. Ms. Carbonaro has been with NED since 1993 and has been responsible for leasing enclosed regional malls and open-air retail centers within a portfolio that included many of the region’s top performing shopping centers. Leasing responsibilities have included new ground up developments, expansions of existing shopping centers and ongoing merchandising and leasing of established properties.

Prior to joining New England Development, Ms. Carbonaro worked for eight years in the shopping center industry for both developers and consulting firms focused on retail leasing and development. She received a B.S. degree in Business Management from Plymouth State University, and is a member of the International Council of Shopping Centers with the designation of Certified Leasing Specialist, as well as various community organizations.