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.