The Real Deal New York

Urban Compass’ Litvak team snags Naftali’s Brooklyn portfolio

Replacing aptsandlofts.com in sales for six properties

October 10, 2014 12:01AM
By E.B. Solomont

From left: Eugene Litvak, 316 Bergen Street and 267 6th Street

From left: Eugene Litvak, 316 Bergen Street and 267 6th Street

Urban Compass’ Litvak Team bagged exclusive marketing rights to developer Miki Naftali’s Brooklyn portfolio, The Real Deal has learned.

Starting Friday, the team will handle sales and marketing on behalf of the Manhattan developer, which has developed six rental buildings in Brooklyn in the past two years. Previously, the Naftali Group’s Brooklyn portfolio was marketed by the brokerage aptsandlofts.com.

Headed by Eugene Litvak, the 10-person team came to Urban Compass after a successful run at Citi Habitats, where it was named the top team for overall production and rental deals in 2013. Urban Compass CEO Robert Reffkin previously told The Real Deal that the Litvak Team would help spearhead the opening of a Brooklyn office for the new brokerage.

Litvak said his group brokered 300 rentals in Brooklyn last year, and it has handled more than $50 million in sales through August of this year.

The Naftali Group’s Brooklyn portfolio includes 316 Bergen Street in Boerum Hill (84 units), the Landmark Park Slope at 267 6th Street (104 units), 200 Franklin Street in Greenpoint (19 luxury units), 484 Humboldt Street in Williamsburg (24 units), 65 Maspeth Avenue in East Williamsburg (21 units) and 64 Maspeth Avenue (24 units).

Prices range from building to building. A one-bedroom at 64 Maspeth is currently listed at $2,583, compared with a two-bedroom at Landmark Park Slope that’s being leased for $4,699, according to StreetEasy.

Litvak said prices “possibly” could change. “We’re working toward putting together a marketing strategy that I think will be pretty aggressive,” Litvak said. “There are certainly some vacancies [in the portfolio], nothing alarming.”

Naftali entered the Brooklyn market two year ago, but earlier this summer told TRD that he’s taking a more cautious approach in the borough, given rising land prices and competition.

  • Slapintheface

    How does something like this go down? Did Urban Compass approach Naftali or does Naftali approach Urban Compass and say “I’m dissatisfied with aptsandlofts?”

    • ChewBaka Flocka

      Oh man sucks to be Jenn Doscher

      • Yo Mamma

        Jen is so rich. She don’t care about these fools..

    • ha

      Sometimes newer co’s will approach and offer less in fees to get the contract.

  • LIE

    300 rental deals last year in Brooklyn? thats a lie, here he is in sept saying he did 250 deals in total both rental and sales last year.. WHY LIE, be real..

    The Litvak Team, formed in 2009, closed 250 deals last year – both sales and rental transactions – and was named the top team at Citi in 2013 for both overall production and for rental deals. – See more at: http://therealdeal.com/blog/2014/09/10/urban-compass-picks-up-top-team-from-citi-habitats/#sthash.BlEtYq8l.dpuf

    • Slapintheface

      Id like Leonard Steinberg to please write in and explain this discrepancy. As president of Urban Compass, he is liable for the misrepresentations of his brokers. Also, I would like him to explain, in this public forum, how the company got this assignment. Department of State and REBNY rules both prohibit speaking to an owner under contract with another broker. I would like Leonard, who is always so verbose and active on this comment board, to explicitly address how Naftali came to hire Urban Compass. Who contacted whom? And no I dont work for aptsandlofts. I dont give two craps about David Maundrell. But I do want to know how Naftali just happened to stumble upon Urban Compass.

      • thetruth

        This hack didn’t land them Gordon did.

        • Slapintheface

          Then let Leonard Steinberg direct his employee Gordon Golub to post a response here.

        • art

          Gordon GOLUB knows NAFTALI that’s how…DONE!
          They gave it to him (LITVACK) so he would come over from CITI > UC. UC is opening an office in BKLYN soon.

    • Slapintheface

      Honestly if you stop to
      think about Litvak’s numbers, he actually has nothing to brag about. He
      claims that his team did 300 rentals in Brooklyn last year. He has a team of 10, so that means that each
      agent did an average of 30 rentals in Brooklyn last year. That is 2.5 rentals per month per agent. A COMPLETELY AVERAGE agent does 2.5 rentals
      per month, which probably yields about $4,000 in income. You cant pay your bills and live in NYC unless
      you do 2.5 rentals per month and make $50,000/year. So Eugene Litvack is simply bragging to Naftali
      and the Real Deal that his agents are about as average as any other agent at CitiHabitats
      when it comes to their rental volume.
      What a dumb moron.

      • NYCRA

        Agreed Slapintheface. Based on things I have seen and read about the group (seems very egotistical) Also, looks like team members come and go quickly based off the team photos he has. Maybe not as as top notch as they make it seem.

  • BK

    Starting your new business relationship off on a dumb lie speaks volumes of his true character. I give it 6 months and they will have a new company representing them. Why they would want a sleazy broker representing their portfolio is very odd.

  • Captain Obvious

    I am not certain what is more shocking
    A) that a broker “embellished” numbers
    B) that people are upset that a broker “embellished” numbers

    “No, this 20×20 studio really is 650sf”

    “We have another offer slightly higher but if you match it, I can guarantee that the sellers will accept it”

    “A lease was just signed on that apt, but we have another that you will like even better”

    If they are a broker, at some point in every conversation, they will lie to you.

    Get over it

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