Leasing News Advisor
Edward Castagna, CEO
68 South Service Road, Suite 100
Melville, New York 11747
Tel. (516) 229-1968
Cell (516) 297-7775
Fax. (516) 882-7924
Edward Castagna, ASA is one of Leasing Asset Management’s pioneers in valuation and liquidation.
His expertise in asset recovery and remarketing has evolved over four decades along with the latest technology. His current appraisal, recovery, and liquidation process employs “real” intelligence that is enhanced by “artificial“ intelligence.
Ed has been a member of the Leasing News Advisory Board for more than 16 years and he has spent his entire 30-plus year career at the forefront of new developments in asset management.
A Traditional Early Route
Ed learned the industry by listening to his father who was an equipment lessor in the late 1970’s. He helped his dad liquidate portfolio assets.
He worked closely with used equipment dealers and mechanics who showed him what to look for when evaluating machinery and equipment for resale.
Over the years through hard-work and continuing education, Ed earned his ASA Appraisal designation for (MTS) Machinery & Technical Specialties, and his CEA Appraisal designation for machine tools and metal working assets. He has been hired as an expert witness in courtroom defense of challenged value and commercially reasonable sale with a high rate of success.
Ed has maintained an attitude of service and professionalism that is well received by both the lender/lessor and the borrower/lessee.
His thorough experience helps him navigate face-to-face contact with borrowers and lessees when a lease is created, and also on the back end in difficult liquidation situations.
“My goal is to market client assets powerfully and effectively at a low cost.”
Ed’s platform continues to evolve and innovate using the latest technology
He was the first in the industry to create a high-volume automated marketing system for repossessed and soon to be liquidated assets.
“Don’t laugh but I started with fax technology. I custom built a “fax blaster” that delivered 24,000 bid sheets per day to a curated audience based on potential buyer’s SIC code. I would target that SIC code by zip code, state, or nationwide. It was extremely successful.”
“I continue my targeted, high volume asset advertising strategy today using greatly improved technology.”
Targeted social media posts, specialized trade publications, blast email, web site SEO, and more have replaced the old fax machine.
In 2011, he launched InPlaceAuction, a full-service ASA appraisal, recovery, and auction company that assists financial institutions with all aspects of asset management. From appraisals, to recovery, liquidations, and auctions.
Industry Associations, Personal News & Charities
Edward is an active member of the following associations: Turnaround Management Association (TMA.org), National Auctioneers Association (NAA), Equipment Leasing and Finance Association (ELFA), National Association of Government Guaranteed Lenders (NAGGL), Machinery Dealers National Association (MDNA), American Society of Appraisers (ASA) and Association of Machinery and Equipment Appraisers (AMEA).
He earned a B.A. from Syracuse University and is a graduate of the Mendenhall School of Auctioneering. Ed served on the Equipment Leasing and Finance Association (ELFA) Board of Directors from 2006-2009 representing its service provider members.
He is one of the founding members and President of the Tender Loving Care Foundation (www.tenderlc.com) that provides parent counseling, and critical care equipment to the NICU’s of the Northwell Health System. His favorite place to be is anywhere with his wife Jeanine, their two boys.
[Leasing News Advisory Board]