Gosin: NGKF can break into top three in U.S.

TRD NEW YORK /
Jan.January 27, 2014 11:00 AM

UPDATED, 11:40 a.m., January 27: Newmark Grubb Knight Frank’s chief executive officer Barry Gosin believes that the firm can be among the country’s top three commercial brokerages.

Speaking from the World Economic Forum in Davos last week, Gosin said that NGKF had aggressively expanded following its acquisition by BGC Partners and was poised for continued national growth.

NGKF still has a long way to go, however. CBRE Group leads the pack, with $4.95 billion in global revenue for the first nine months of 2013, according to the Wall Street Journal. Jones Lang LaSalle is next on the list with $2.95 billion in global revenue, followed by Cushman & Wakefield with $1.66 billion in global revenue. In comparison, NGKF’s U.S. revenues during the same time period were $401.3 million. U.S.-only revenues for CBRE, JLL and Cushman weren’t immediately available.

Still, since the BGC acquisition, NGKF has acquired other high-profile firms such as Grubb & Ellis in 2012 and Northern California bigwig Cornish & Carey Commercial last week. Chuck Seufferlein, Cornish & Carey’s chief executive, told the newspaper that NGKF is already scoping out acquisitions in Seattle, Portland and San Diego.

Analysts told the newspaper that NGKF needs to boost the portion of of its revenue that comes from “recurring” sources such as consulting and property management. The firm currently rakes in a large portion of its revenue from deal-related services such as brokerage – activities that can come to a standstill during a downturn. [WSJ]Hiten Samtani 


Related Articles

arrow_forward_ios
Barry Gosin, Sandeep Mathrani and Christian Ulbrich

WeWork taps JLL, Newmark to help negotiate rent relief

From left: Realogy's Ryan Schneider, Cushman & Wakefield's Brett White and Newmark Knight Frank's Barry Gosin (Credit: iStock)

Brokerage stocks plunge amid market turmoil

125 Park Avenue (Credit: Google Maps, iStock)

Newmark hires nurse to screen visitors, employee tests positive for Coronavirus

Fears of coronavirus have led some of the world’s most prominent commercial real estate companies to pull out of the MIPIM conference in Cannes, France. (Credit: Getty Images, iStock)

Coronavirus exodus: CRE bigwigs ditch MIPIM

Jordan Roeschlaub and Dustin Stolly of Newmark Knight Frank (Roeschlaub and Stolly photo by Anuja Shakya, iStock)

Employees fleeing “toxic” team at Newmark Knight Frank

Clockwise from left: JLL's Michele Mahl, Savills' Peter Hennessy, Eastdil Secured's Will Silverman, Christie’s Brian Meier, Nest Seekers' Mike Fabbri and Compass' Charlie Attias 

These were the biggest broker comings and goings of 2019

Jordan Roeschlaub and Dustin Stolly, Newmark Knight Frank

Co-heads of Newmark’s debt team host holiday bash

Brett Siegel, Jean Celestin, and Evan Layne with Newmark Knight Frank offices at 125 Park Avenue (Credit: LinkedIn and Google Maps)

Newmark poaches Eastdil Secured sales team

arrow_forward_ios
Loading...