Seeking breakups without blowups

TRD New York /
Oct.October 13, 2010 10:30 AM

Defections in commercial brokerage world raise issues over ‘trailing’ commissions

From the October issue: Like any industry, the commercial brokerage world has its own codes and rituals, many of which seem to crystallize when a tribe member switches allegiances. Those codes have been put to the test lately by a string of high-profile defections by some of New York’s top brokers. But the results have shown a more conciliatory real estate industry than what it is typically perceived.

Take the most high-profile example: the four top commercial sales brokers — Richard Baxter, Jon Caplan, Ron Cohen and Scott Latham — who recently left Cushman & Wakefield for greener pastures at Jones Lang LaSalle.

As of April — while still at Cushman — the four were marketing the 11-story, 50,000-square-foot Bryant Park office building at 54 West 40th Street, the headquarters for the drug and alcohol rehabilitation clinic Daytop Village. The landlord, Allied Partners, is now in contract to pay $26.5 million for the building, a deal the four brokers brought with them to JLL. [more]

 

Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

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

Wendy Silverstein (Credit: Getty Images)

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

Stockholm, Sweden (Credit: iStock)

Why institutional investors are now in love with Nordic real estate

Akon and a rendering of Akon City in Senegal. (Credit: Getty Images and Hussein Bakri/BAD Consultant/Semer Group)

Inside Akon’s 2,000-acre crypto-city in Senegal

Is January the new April for real estate? (Credit: iStock)

Low mortgage rates could mean another hot winter in the housing market

Cheung Chung Kiu is no stranger to big real estate deals (Credit: Wikipedia)

Mysterious billionaire who bought $262M London mansion is obsessed with blockbuster real estate deals

(Credit: SimsWiki, Unsplash)

Welcome to affordable San Francisco! Here is your $1,000-a-month basement “sleeping pod”

arrow_forward_ios
Loading...