The Real Deal New York

Three Cushman power brokers move to Grubb & Ellis

September 09, 2009 05:04PM
By Adam Pincus

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Three middle-market sales pros from the capital markets group of full-service commercial firm Cushman & Wakefield have moved to the New York office of brokerage Grubb & Ellis.

The brokers, Charles Kingsley, Jon Epstein and sales agent Yoav Oelsner, began Monday, a source familiar with the move said. They were three of eight “power brokers” named by the New York Observer in October 2008

The team, which focused on buildings under $100 million for Cushman & Wakefield, was making deals despite the down market and had been courted by more firms in addition to Grubb & Ellis, the source said. The team brokered the sale of the Booth House, at 318 East 15th Street, for $56 million, the Post reported in 2008.

The group was at Eastern Consolidated before joining Cushman & Wakefield several years ago.

“Our investment sales capabilities are strong because of institutional quality expertise and execution within the
middle-market size range — properties trading at under $100 million. Jon, Charles and Yoav will play a huge role in taking our business to the next level,” said David Arena, CEO of Grubb & Ellis.

The Cushman & Wakefield capital markets group is now composed of 13 brokers, down from 16.

“By coming to Grubb & Ellis, we are joining an expanding platform
that will allow us to better serve our clients. We can focus on
institutional properties as well as private capital transactions going
forward,” said Epstein, now an executive vice president.

Neither Kingsley nor Oelsner responded to requests for comment.

Frank Liantonio, executive vice president and head of Cushman & Wakefield’s capital markets group in the U.S., said of the trio’s departure: “These are terrific professionals who will be missed and we wish them well.”

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