Benjamin James president leaves for Bond

TRD New York /
Nov.November 30, 2009 10:57 PM

Douglas Wagner, president and general manager at Benjamin James Real Estate, has left the shrinking company for a position at brokerage Bond New York.

Wagner became executive managing director of sales at Bond just over a week ago, according to Bruno Ricciotti, a principal at Bond, and will manage sales and rentals at the company’s 45-agent Upper East Side office at 1500 Second Avenue between 78th and 79th streets.

Ricciotti said Bond and Benjamin James have often worked on rental deals together. Wagner’s departure raises questions about the future of Benjamin James,
which has lost market share during the recession. James Benjamin Ferrari founded the
firm in 1993, but in recent years left the company almost entirely in
Wagner’s hands.

Ferrari was not available for comment by press time.

A former dancer and musician, Wagner started at Benjamin James 14 years ago as an agent, he told The Real Deal. He worked his way up to president, taking on more and more responsibility as Ferrari became less active at the firm, which specializes in rentals.

But Benjamin James grew smaller as the recession hit New York City, dropping from 80 employees in four Manhattan offices to 20 agents in one office in Chelsea, and Wagner began looking to move to a larger brokerage.

“I was looking to take a leadership role in a much larger organization,” Wagner said.

He considered several different firms, he said, but chose Bond — which has some 270 agents — in part because he was impressed by the young company’s focus on teams and mentoring.

“What really impressed me was the structure that they have in this organization,” Wagner said. “It’s astonishing the amount of business they’re able to execute because of the way they’re set up. Here, people really do come to the company and within a few weeks, they’re already on their second or third deal.”

Wagner’s position as head of the East Side office is “really just a starting point,” Ricciotti said, adding that Wagner’s responsibilities likely will grow over time. “We’re going to let him spread his wings and see where he goes.”

Ricciotti said that he’s admired Wagner’s skills for years.

“Throughout my career in real estate, I’ve heard his name over and over
from agents who had really the most amazing things to say about him,”
Ricciotti said. “I’ve been told he’s literally the best manager in the
city.”

Wagner said he believes the company is planning to find a replacement for him, adding that he wishes it the best.

“I support them and hope they will remain a fixture in the residential marketplace in Manhattan,” he said.


Related Articles

arrow_forward_ios
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
442 Union Street and 257 Berry Street (Google Maps)

Brooklyn’s luxury market reaches new pandemic high

Brooklyn’s luxury market reaches new pandemic high
Marwan Kheireddine (inset), Jennifer Lawrence and 400 East 67th Street (Getty, Compass, BDL Accelerate)

Jennifer Lawrence’s Upper East Side PH sold at 37% loss

Jennifer Lawrence’s Upper East Side PH sold at 37% loss
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
111 Leroy Street and 817 Fifth Avenue (StreetEasy, Google Maps)

Luxury deals plummet in Manhattan — again

Luxury deals plummet in Manhattan — again
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
arrow_forward_ios

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

Loading...