Matawan, NJ – March 3rd , 2021 – The Otteau Group, Inc. is proud to announce the acquisition of PATJO Appraisal Services, Inc. and its team of accomplished professionals with a combined 50 years of multi-faceted real estate experience. Leading PATJO’s experienced and diverse team to the Otteau Group are some of New York’s top Real Estate Appraisers, Patrick A. Josephs and Susanne Lyon-Josephs. “ I am very optimistic on what the future holds with this new venture, … there was instant chemistry,” said Patrick A. Josephs, President of PATJO.

Headquartered in New York City and operating in six states, PATJO’s wide ranging expertise includes residential, commercial, industrial and special purpose property valuation services. Also included in their impressive resume is litigation support, condemnation appraisals, commercial real estate acquisition advice, seminars, and training.

The acquisition expands the Otteau Group’s New York services and increases the number of contracts with various NYC agencies. “ We look forward to welcoming their long list of private and public sector clients to this exciting strategic partnership,” said Christopher Otteau, Chief Appraiser of the Otteau Group. Patrick A. Josephs further commented, “ I admire Chris, for his drive and commitment to professionalism, and his high ethical standard. I like the multi-faceted approach to professional practice that the Otteau Group has taken – not just real property valuation – and the reputation that Jeffrey Otteau [President of the Otteau Group] has built over the last +45 years.”

Patrick A. Josephs ( MAI, AI-GRS, FRICS, MS)

Founder and President of PATJO, Patrick A. Josephs, turns his role to Managing Director of Otteau Group’s New York Markets. Since 1994, Patrick has personally analyzed over 3,000 investment properties and has written thousands of narrative reports on real property valuation, markets, and feasibility studies.

Holding the Certified General Real Estate Appraiser in six states (New York, New Jersey, Pennsylvania, Connecticut, Delaware and D.C.), Patrick has received awards for outstanding achievement in real estate sales as a licensed real estate broker. With a Master of Science in Real Estate Valuation & Analysis from New York University, Patrick has also served as an instructor for the Appraisal Institute, and an adjunct professor at the New York University Schack Institute of Real Estate.

Patrick also holds the International Designation of FRICS. Further, he has completed specialized training with the Appraisal Institute and the International Right-of-Way Association (IRWA); equipping him to competently handle valuations for right-of-way and tax appeal cases.

Susanne Lyon-Josephs (ALEVS, FRICS, MBA)

Working alongside Patrick A. Josephs, Susanne Lyon-Josephs is a certified General Appraiser with an MBA and holds the International Designation of FRICS. Susanne brings more than 30 years of real estate valuation experience to her new role of Senior Appraiser. Starting her career at the Land Valuation Division of the Ministry of Finance in Kingston, Jamaica, Susanne’s education, training, and professional development has spanned over three countries, consisting of Jamaica, the United Kingdom and the United States. Susanne has been President at the Association of Land Economy and Valuation Surveyors (ALEVS) , provided lectures to universities for real estate valuation degrees, and co-authored a chapter in the book “Property Tax: An International Comparative Review” by William McCluskey. Using her appraisal knowledge in a wide range of public sectors, Susanne has been involved in countless real estate operations such as acquisitions, sales, lease transactions, and real estate property tax assessments.

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