DJK plans to enter commercial market

New York /
Nov.November 11, 2008 05:19 PM

 
DJK Residential is planning to form a new division to handle commercial property, said Phyllis Pezenik, vice president and managing director of brokerage services at the Manhattan firm.

The move would make DJK the second residential firm to announce plans to foray into the commercial market this week. Halstead Property said yesterday that it is forming an investment sales division.

Pezenik said DJK’s decision has nothing to do with Halstead’s plans. Her firm has been discussing the creation of a new division for a while and has already been working for a while in the commercial arena. Seven of DJK’s residential brokers, who also handle relocation deals, have been handling commercial deals over the last two years.

The firm, headquartered at 101 Fifth Avenue at 17th Street, is looking to find someone to head up the commercial division, Pezenik said.

Lily Insogna, a sales agent at DJK Residential, began working with an international commercial client nearly a year ago. The buyer is still looking for property for a retail and wholesale store on Madison Avenue.

“I usually do residential [deals], but with the market being slow, I thought, why not?” said Insogna, who heard about her international client through friends of friends. “If you have the client, it’s easy to branch out.”


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
(Super Gen via Twitter/ArjunKharpal, Getty)

Ready players: 5M-sf e-sports complex rises in Shanghai

Ready players: 5M-sf e-sports complex rises in Shanghai
News of President-elect Biden’s $1.9T stimulus plan held promise for employment and economic activity. (Getty)

Real estate stocks hold gains even as market doesn’t

Real estate stocks hold gains even as market doesn’t
Tommy Hilfiger and his recently sold estate in Greenwich, CT. (Getty, Janet Milligan)

Tommy Hilfiger’s Greenwich estate sells for $45M

Tommy Hilfiger’s Greenwich estate sells for $45M
Jenna Ryan was part of a group who flew on a private plane from Denton, TX, to Washington, D.C., with the intention of joining the protestors (Twitter.com/DotJenna)

Texas Realtor faces criminal charges for role in Capitol attack

Texas Realtor faces criminal charges for role in Capitol attack
Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...