The Real Deal New York

Marcus & Millichap taps Brooklyn head to lead Manhattan, Connecticut region

March 13, 2010 06:42PM
By Adam Pincus

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The regional manager of the Brooklyn office for national investment
sales firm Marcus & Millichap Real Estate Investment Services, J.D.
Parker, will be promoted to regional manager for the Manhattan and Connecticut offices
tomorrow, company officials told The Real Deal.

Parker has been running the Brooklyn office for three years, and before that was a sales manager for the company in Manhattan.

Bernard Haddigan, managing director who oversees the east coast operations for California-based Marcus & Millichap from the Atlanta office, will make the announcement tomorrow at a company meeting at the firm’s Midtown office, where Parker will be based.

The current regional manager for Manhattan and Connecticut since 2007, Edward Jordan, will leave management and return to brokerage, Haddigan said. He will be an associate vice president of investments in the Connecticut office, based in New Haven.

Haddigan said Parker was transferred to Manhattan as part of a plan by the California-based company to grow in the New York area.

“The New England, Northeast and New York market is really our last area of significant expansion,” Haddigan said. “The moves we are making right now are just part of a longer term strategy to continue to grow in New York City, the boroughs and the Northeast.”

Parker did not immediately respond to a request for comment.

The Manhattan office has about five times the level of sales as Brooklyn, although some of those are national sales managed through New York, he said.

The state Department of State, which licenses real estate professionals, shows 59 brokers and salespersons at Marcus & Millichap in Manhattan and 30 in Brooklyn.

Jordan, who lives in Connecticut, sought the move in part for personal reasons, including a desire to give up a long commute, and he and his wife recently had their first child. But he also wanted to develop business in his home state, he said in an e-mail.

He stepped down, “more importantly, to pursue the opportunity to build a Stamford-based Northeast private-client group in association with Marcus & Millichap,” he said.

The Manhattan office was opened in 1999 and the Brooklyn office in 2006.

Another aspect of the firm’s plans includes beefing up financial services including debt and equity financing, which other firms such as Studley are looking at growing.

“Part of [Parker's] focus is to straighten out and advance our capital markets business which is New York-based,” Haddigan said.

Parker will leave his post as regional manager of Brooklyn as he takes over in Manhattan, Haddigan said. No replacement has been named for Parker in Brooklyn, but the company expects to name one soon.

“At the Brooklyn office we will find a replacement regional manager within a short period of time. We just want to make sure we are putting the right person in,” Haddigan said.

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