After more than 14 years with the brokerage company Eastern Consolidated, Alan Miller joined a new investment and advisory firm based in Soho called 5Points Group.
Former Eastern Consolidated broker David Johnson launched the Soho-based 5Points Group last fall and Miller joined April 10. Both will have the title managing principal. The firm will concentrate on brokering off-market transactions, but will also source equity for investments as well as make its own investments in deals, Miller told The Real Deal.
Miller and Johnson worked together at Eastern from 2005 to 2009, on such deals such as the sale of 510 West 22nd Street and additional air rights for $64.8 million to rap impresario Shawn Carter, known as Jay-Z, and additional partners in 2007. (The project stalled in the downturn and the site was later sold.) They also arranged the sale of The Office Building 100 Van Dam Street to Beck Street Capital for $20.5 million in 2006.
In 2010, Johnson left Eastern and in partnership with a private family, started the investment and development company Black Diamond Capital. Johnson will continue to own Black Diamond, he said.
“The opportunity to again combine forces is tremendously exciting. David and I have great synergy; we love the business, and we enjoy working together,” Miller said.
Eastern’s founding principals, Peter Hauspurg and Daun Paris, said in a statement, “Alan was a valued member of Eastern Consolidated for 15 years. We think the world of Alan, and wish him well with his new position.”