Trending
Embattled brokerage Lansco is bleeding talent and facing a succession crisis
As the mid-sized brokerage grapples with an exodus of talent and a belated succession plan, sources say it will struggle to rebuild and may have to downsize
From the August issue: Soon after the embattled commercial brokerage Lansco Corporation relocated to the 17th floor of 415 Madison Avenue from 575 Fifth Avenue in early 2016, its brokers spotted a huge red flag.
Unbeknownst to most of the firm’s employees at the time of the move, Lansco had a provision in its lease with Rudin Management at 415 Madison that gave it a one-time opportunity to return the space to the landlord after the first few months.
It didn’t take long for Lansco’s top brass to exercise that option and occupy the space on a month-to-month basis. But instead of learning about the situation from upper management, the company’s roughly 40 brokers found out when they noticed their digs listed on CoStar.
Click here to read more.