Newmark’s Got Talent – Commercial Observer

Newmark (NMRK) shocked the real estate world in February when it announced it lured superstar investment sales brokers Doug Harmon and Adam Spies, along with their team, from Cushman & Wakefield.

The news was long in the works — Newmark CEO Barry Gosin tried unsuccessfully to hire them in 2016 — but the wait was worth it as they almost immediately landed the $60 billion Signature Bank loan portfolio sale mandate after joining Newmark.

But, to anybody paying attention, the addition of Harmon and Spies was just the icing on the cake of an already stacked bench of talent Newmark has been quietly amassing over the past years. That includes hiring Rob Griffin, Kevin Shannon, Steven Golubchik, Chris Murphy and, last but not least, the duo of Dustin Stolly and Jordan Roeschlaub, two of the most prolific debt, equity and structured finance advisers in the industry.

This week, Commercial Observer dove into all the moves Newmark’s been making on its quest to become the country’s top capital markets team.

“Look,” Gosin said. “If you’re a great broker and you want to be in a company that understands, appreciates and respects talent, this is the place for you.”

And that amount of talent obviously comes with some deals, with Spies, Harmon, Adam Doneger and Michael Collins leading the $35 million sale of the luxury multifamily building 1009 Park Avenue to Joe and Jacob Chetrit last week. Stolly, Roeschlaub and Daniel Fromm are currently in the market to arrange financing for the acquisition. 

Let’s dance
Newmark isn’t the only brokerage luring talent to its company. David Carlos, who has done deals with the New York Public Library and Weill Cornell Medicine in the past, joined JLL as head of its nonprofit, education and government clients in the tri-state region after 16 years at Savills.

And Meridian Capital Group hired investment sales veteran Thomas Donovan from B6 Real Estate Advisors in an effort to scale Meridian’s deal flow in the Queens market.

Newmark also wasn’t the only one securing deals last week. In Florida, Jorge M. Perez’s Related Group scored a $158.9 million loan from CIBC Bank to complete Casamar Residences, its luxury oceanfront condo project in Pompano Beach, Fla.

In the City of Brotherly Love, Southern Land Company landed $70 million of condominium inventory financing for a new 48-story tower in Philadelphia’s Center City neighborhood.

Over on the West Coast, Rexford Industrial Realty grew its Southern California portfolio by acquiring three industrial properties for just over $46 million.

Things were a bit quieter on the leasing front, but Lacoste USA signed on to move its headquarters to 18,364 square feet at 136 Madison Avenue after decades uptown at 551 Madison Avenue.

We’ve got five years, that’s all we’ve got
The David Bowie classic might be James Dolan’s theme this week as the New York City Council unanimously approved a truncated five-year special permit for Madison Square Garden to remain in its current spot above Pennsylvania Station.

MSG originally wanted a 10-year renewal and complained in April that the city had done a “grave disservice” to New Yorkers by only giving them…

Read More: Newmark’s Got Talent – Commercial Observer

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More