Cresa New York expects its business in the city will have doubled by June, a year after Mark Jaccom, the former tri-state co-chairman of Colliers International, was appointed president of the commercial brokerage, the Wall Street Journal reported. However, so far, the firm appears not to have closed any deals during his tenure. Cresa, which only represents tenants, said that it has doubled its staff to a total of 40, including 25 brokers and 15 consultants. The firm also recently moved into a larger, 13,000-square-foot space at 450 Lexington Avenue.
However, since Jaccom assumed the position in June 2012, Cresa has not revealed any closed deals. Its new clients are still looking for space or finalizing deals, and the firm won’t release numbers until transactions are complete, the Journal said.
Still, predictions indicate that Jaccom will have pulled in $6 million in commissions, and a team of five brokers he brought on will have amassed $5 million in commissions, by his first year at the firm.
“I’ve become their father figure,” Jaccom told the Journal. “I think they were a team without a leader.” [WSJ] —Zachary Kussin