Tenant improvement allowances will be first to go, regional Newmark exec says
November 23, 2009 01:30PM
David Falk, tristate president at Nemark Knight Frank
The commercial real estate market will see a change in tenant improvement allowances before a change in rents, according to David Falk, newly-appointed president of Newmark Knight Frank's New York tristate region. The longtime broker said tenants have been taking advantage of receiving allowances to an "obscene" extent, and that landlords have already begun to hold their ground. Falk also said that under his control, Newmark will attempt to lure in brokers from other firms. In talks with "at least 10 people" who may make the jump to Newmark, Falk said he is "hearing a lot about the sagas that are going on in the other firms. It's interesting, but it's not surprising." [NYO]
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Comments
Anonymous
When did David Falk become a gosspi hound?
Comment #1 Posted By: Anonymous 11/23/09