At Grassi & Co. we understand the needs of a construction company are dynamic and complex. As dedicated industry leaders, the professionals of the Grassi Construction Practice can give you the tools to develop and implement your strategic vision, improve operational flow and efficiencies and make the nontraditional design a profitable building reality.

Our Services:
Our construction practice professionals are members of the Construction Industry CPAs/Consultants Association (CICPAC), a nationwide network of accomplished CPA firms specifically selected for their experience in and commitment to serving the construction industry. In addition to traditional accounting, auditing and tax services, CICPAC members distinguish themselves by providing management and consulting services that meet the increasingly complex needs of construction companies.
Our Construction Industry experience is unmatched.  Our professionals are committed to the Industry and keeping abreast of industry trends and best practices.  Evidence of this and our specialized qualifications is demonstrated by the following:
  • Six of the Firm's partners are Certified Construction Industry Financial Professionals
  • Five of our construction partners teach master's and college-level courses in construction accounting and finance at prestigious universities such as Columbia University
  • Grassi & Co.'s Managing Partner and CEO, Louis C. Grassi, served as the editor of the Journal of Construction Accounting & Taxation for eight years and, along with other senior Grassi & Co. Construction Partners, authored the Construction Industry chapter of the Corporate Controller's Manual
  • Our Firm is the auditor for several Construction Industry trade groups, including the General Contractors Association (GCA); New York Electrical Contractors Association (NYECA), and perform tax services for Construction Financial Management Association (CFMA) 

The Firm hosts periodic seminars for the banking and surety communities, informing them about the latest changes in construction and development accounting, tax developments and other issues affecting the construction industry.
Industry Participation and Investment:
Grassi & Co. has made significant investments of time and resources in becoming leaders in the construction industry. We have partners who have served on boards and advisory panels of numerous industry trade organizations, including:
  • New York Building Congress (NYBC)
  • Subcontractors Trade Association (STA)
  • General Contractors Association (GCA)
  • Construction Financial Management Association (CFMA)
  • Associated General Contractors (AGC)
  • Utility & Transportation Contractors Association (UTCA)
  • Women's Builders Council (WBC)
  • Building Traders Employers' Association of New York City (BTEA)

Other Services:

Our construction professionals also offer Construction Project Monitoring.



Robert J. Brewer Partner
Ronald J. Eagar Partner, Chief Operating Officer
William E. Fischer Partner
David Freda Partner
Steven Goldstein Partner, Sports & Entertainment Practice Leader, White Plains Office Market Leader
Michael Hochman New Jersey Office Market Leader
William P. Hughes Partner
Steve Lemke Principal
Michele Lindner Principal
Stephen J. Mannhaupt Partner, Assurance and Attest Services Leader
Joseph Molloy Partner, Tax Construction Leader
Carl Oliveri Partner, Construction Practice Leader, NYC Office Market Leader
Aaron Rupper Principal
Alan Silverstein Principal
Scott Stern Principal
Anthony Tomaro Consulting Services Leader

Press release

Grassi & Co.’s 2019 Construction Industry Survey—The Results Are In

Industry survey highlights contractors remain optimistic despite facing significant challenges relating to regulations, labor conditions, environment, safety compliance, technology, cybersecurity and insurance.


Carl Oliveri of Grassi & Co. Elected President of CICPAC

Grassi & Co. is proud to announce that Carl Oliveri, Partner, Construction Practice Leader, was recently appointed President of the Construction Industry CPAs/Consultants Association (CICPAC).


Rebuilding NYC Construction Safety Standards

New safety standards, the STEP program and digital learning, are impacting construction companies, their personnel, engineering and design firms, and all others along the supply chain in the NYC construction industry. The financial and operational implications of these changes are worthy of consideration.


Carl Oliveri of Grassi & Co. Announced as the Secretary/Treasurer of CICPAC

Carl Oliveri, CPA, CCIFP, CFE, Partner-in-Charge of the construction practice of Grassi & Co., has officially been named the Secretary/Treasurer of the Construction Industry CPAs/Consultants Association (CICPAC) effective August 1st.


Articles & Alerts

Avoiding Unnecessary Contractor Risk and other Insights from the 2020 Construction Forecast

The construction industry has many risks that cannot be controlled, but many contractors are taking on more of it than necessary.  Construction Partners Michael Hochman and WIlliam Hughes explore the ways to mitigate the most common areas of contractor risk.


Phantom Stock: A Real Solution to One of the Biggest Problems in the Construction Industry

As the current labor shortage continues, it is time for construction executives to think outside the box and consider new ways to attract and retain key people. One of those vehicles is the concept of phantom stock, a unique method to engage key personnel and to vest them in the long-term profitability and health of the construction company.


Tax Alert: 179D Deduction Extended for Energy-Efficient Buildings

The Energy-Efficient Commercial Building Deduction (179D) was extended through 2020 when the president signed the year-end government spending bill on December 20, 2019. This valuable tax deduction of up to $1.80 per square foot is achieved through the installation of energy-efficient HVAC, building envelope and lighting assets.


Revenue Recognition Resources for the Construction Industry

Grassi has partnered with CICPAC to provide construction companies with the resources they need to experience a smooth and effective transition to the new Revenue Recognition standard.


Is an ESOP the Right Succession Plan for Your Construction Company?

Construction Partner Steven Goldstein outlines a recent case study that demonstrates the benefits, strategies and risks that companies should understand when considering an Employee Stock Option Plan.


Some Contractors Don’t Give Themselves Enough Credit

If you are a specialty contractor responsible for functions such as plumbing, HVAC, electric or sheet metal work, or if you are a contractor that performs value engineering, you may be able to take advantage of some often-overlooked tax incentives.


What a Contractor Should Know About the Gross Receipts Test

One of the positives that came out of The Tax Cuts and Job Act is the change in the small contractor’s exemption of Average Annual Gross Receipts (AAGR) test from $10,000,000 to $25,000,000. 


Is there a Labor Shortage or Can Your Project Managers Produce More?

Talk of labor shortages in the construction and A&E industries has been public over the last few years. Some say it is likely to continue in 2019 as companies continue to earn higher and higher revenues and maintain healthy and growing backlogs. 


Your Company Has a Retirement Plan – Are You Meeting Your Fiduciary Responsibilities?

While you offer your employees defined contribution, defined benefit, health and welfare, or profit sharing plans, it is important to know that offering these plans also comes with responsibilities and risks for the sponsoring company and the trustees of the plans.  


How To Successfully Implement an ERP System

Choosing the right Enterprise Resource Planning (ERP) system is one of the many challenges construction companies face.  Choosing the wrong ERP system can potentially hold a company back, however, the right system can substantially propel a company forward—especially in the areas of cash flow and profitability. 


Using Deferred Cash Bonus to Retain Employees

One issue plaguing the construction industry revolves around a labor shortage.  This has been a hot topic the last few years and is likely to continue in 2019 as companies continue to earn higher and higher revenues and maintain healthy and growing backlogs.  


Great News for NJ Construction? Maybe.

The New Jersey construction community received a New Year’s gift at the end of December: an announcement from the Murphy administration adding over $400 million in new projects currently under design, as well as accelerating its first quarter 2019 construction program, giving much promise to 2019!  


Implications of the New Tax Law for LI Contractors

Tax projection season is upon us and is a completely new ballgame!  The Tax Cuts and Jobs Act (“TCJA”) was adopted at the end of 2017 with most of it effective January 1, 2018.  


The Nuts & Bolts of the Changes in Revenue Recognition

Over the course of the past few years, you may have heard rumblings about significant changes in our accounting guidance as it relates to how companies recognize revenue. The Financial Accounting Standards Board issued “ASU Revenue From Contracts With Customers (Topic 606)”, which is effective for public business entities, beginning after December 15, 2017; and private companies for periods beginning after December 15, 2018. 


EAlert: IRS Issues Workarounds for SALT Deduction

On December 22, 2017 President Trump signed into law the Tax Cuts and Jobs Act. 


EAlert: What a Contractor Should Know About Tax Reform

The Tax Cuts and Jobs Act (the Act), which the President signed on December 22, 2017, contains numerous provisions that could affect contractors at the corporate and individual levels.


Accounting Methods for Construction Contracts

Joseph Molloy, Principal of Tax Construction Services, explains the different accounting methods available for construction contracts and the unique tax benefits of each one.


The 2017 Building & Design Symposium in Review

Every year, Grassi & Co. produces a Construction Industry Market Outlook Survey followed by a Symposium made up of executives within the construction industry to comment on the results of the survey.


If You Build It, Use Technology

The advances in construction technology are real, they are here, and they aren’t going away. If construction contractors are not already implementing these new ways to build, they’ll be as obsolete as the dot matrix printer.


Money for Nothing: 3 Ways to Reduce Contractor Insurance Premiums

Insurance costs can be daunting for any contractor, but what if there was a way to reduce premiums without affecting coverage?  Here are three tips that can have a large impact on insurance premiums.


The Blueprint to Building a Successful Construction Succession Plan

Over the past few months, there have been at least three construction companies who have celebrated big anniversaries: one celebrated 75 years, the second 125 years and the third 130 years.


NYS Paid Family Leave Act

In April of this year, Governor Cuomo signed into law the Paid Family Leave Act enabling workers with up to 12 weeks of paid leave a year to care for a seriously ill family member or newborn, or address issues from a family member’s military service. The law will apply to all employees who are covered by the state’s temporary disability insurance law, regardless of their employer’s size, and who have been employed for 26 or more consecutive weeks.


What’s the Latest in Lean Practices?

While the construction industry has become more informed about the inefficiencies within the current construction process, adopting a Lean approach to improve project planning and efficiencies—resulting in increased client satisfaction—has only been partially assimilated into the industry. The most important challenge to having these cohesive principles adopted by the majority seems to be lack of industry understanding of Lean.



2020 Forecast: Construction Predictions and Trends

With growing concerns over the labor shortage, cyberattacks, safety laws and other areas of risks, the future of the construction industry is far from certain.


Revenue Recognition Refresher

The new Revenue Recognition standard begins to take effect for nonpublic entities in the calendar year ending December 31, 2019. This means that private construction companies now have mere weeks to prepare for compliance.


EVENT: Inaugural Safety Construction Forum

Grassi's Carl Oliveri, Partner, Construction Practice Leader, will be a panelist at the Commercial Observer Inaugural Safety Construction Forum.


EVENT: Revenue Recognition is Going Private

Hosted by Grassi & Co.'s Construction and Manufacturing & Distribution Practices.


EVENT: Owner Advancement Series

Join Grassi & Co., UBS, Sorell, Lenna & Schmidt, LLP and industry experts to discuss how the current environment can impact your business decisions.