Coffee Talk: Justin Ehrlich and John Gomes on NYC neighborhoods and doing deals during an election year

Celebrity broker John Gomes and distress investor Justin Ehrlich on their favorite places to buy and sell, and where to make the next big bet

New York /
Mar.March 13, 2020 09:30 AM

Luxury residential brokers and distress investors may seem an odd couple, but for Eklund-Gomes’ John Gomes and Churchill Real Estate’s Justin Ehrlich it’s been a perfect match.

The Real Deal sat down with Gomes and Ehrlich to talk about their friendship, business partnerships and coffee preferences. The pair, who are working on several projects together right now, reflected on the industry’s mood when they met, recession fears gripping the industry and whether or not to buy big in Brooklyn.

Gomes noted that he and Ehrlich have worked together quietly for years.

“In 2013 I told John to become my partner and start investing with me because I saw the writing on the wall,” Ehrlich said. But Gomes has remained a driving force behind his Elliman supergroup, which he runs with CEO Julia Spillman and Eklund, who headed to Los Angeles last fall.

Meanwhile, Ehrlich has his eye on opportunities in Manhattan, where “a real recession” is gripping the luxury condo market.

Check out the video above to hear their thoughts on doing deals today’s market.


Related Articles

arrow_forward_ios
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
What will proptech look like in 2019 and beyond?
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
More contracts signed in the city for more expensive homes (iStock)
Manhattan condo signings jump 65% in November, led by priciest homes
Manhattan condo signings jump 65% in November, led by priciest homes
273 Skillman Street, 83 Nostrand Avenue and 1358 Dekalb Avenue with Andrew Farkas of Island Capital (Google Maps, Getty)
All Year’s massive Brooklyn portfolio in distress, sparking bidding war
All Year’s massive Brooklyn portfolio in distress, sparking bidding war
Brownstones rule Brooklyn’s luxury market Thanksgiving week
Brownstones rule Brooklyn’s luxury market Thanksgiving week
Brownstones rule Brooklyn’s luxury market Thanksgiving week
Clockwise from top left: 2875 Morningside Heights, 38-21 12th Street in Long Island City, 46 Nevins Street in Brooklyn (Google Maps)
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Feil Organization plans 43-story DoBro tower
Feil Organization plans 43-story DoBro tower
Feil Organization plans 43-story DoBro tower
The Collective's Reza Merchant and 1215 Fulton Street in Bedford-Stuyvesant (NLA, The Collective)
Co-living startup The Collective to lose another Brooklyn development project
Co-living startup The Collective to lose another Brooklyn development project
arrow_forward_ios

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

Loading...