Eastdil picks up acquisitions pro from SL Green

Drew Isaacson worked on deals like $447M sale of the Olivia apartment building

New York /
Feb.February 08, 2021 04:35 PM
Drew Isaacson, who worked on a $447M sale at The Olivia, will move from a senior vice president role at SL Green to a senior vice president at role at Eastdil. (Google Maps, LinkedIn via Drew Isaacson)

Drew Isaacson, who worked on the $447M sale of The Olivia, will move from SL Green to Eastdil Secured (Google Maps, LinkedIn via Drew Isaacson)

 

Eastdil Secured has tapped an SL Green Realty acquisitions pro to join its sales team.

Drew Isaacson, a senior vice president at SL Green, will head to the real estate investment banking firm next week as a senior vice president in the New York City office, sources told The Real Deal.

Isaacson has spent the past seven years at the REIT, where he’s worked on deals like last year’s $447 million sale of the Olivia apartment building on West 33rd Street to a fund backed by Brookfield Asset Management.

Isaacson is also heavily involved in the company’s debt and preferred-equity book. Prior to SL Green, he spent about five years at Waterman Interests, according to his LinkedIn profile.

A representative for Eastdil Secured declined to comment, and Isaacson did not immediately respond to a request for comment.

Isaacson will work on the sales team led by Gary Phillips and Will Silverman.

The hire comes as Eastdil, once New York City’s top investment sales brokerage, looks to regain some of the ground lost to competitors in recent years. Its top sales team, led by Doug Harmon and Adam Spies, left for rival Cushman & Wakefield in 2016.

Eastdil ranked as the fourth most-active brokerage in New York City in 2019 with $1.8 billion worth of deals, according to the most recent ranking by The Real Deal. That put it behind competitors Cushman, CBRE and JLL — firms the company had previously dominated.

Eastdil has also suffered something of a brain drain in recent years as a number of its home-grown brokers left. Most recently, senior vice president Bruer Kershner departed in October after more than eight years at the firm. He took a job at CBRE in Philadelphia, according to his LinkedIn.

Headed by CEO Roy March, Eastdil has long prided itself on its company culture — “the Eastdil way” — built on a model where brokers work collaboratively on deals in a salary-and-bonus compensation structure, as opposed to the “eat what you kill” commission basis of most commercial real estate brokers. Eastdil was also known for training and bringing up professionals through its ranks, but in recent years the company has relied more heavily on outside hires.

But it’s been in the midst of some major changes. March oversaw a management-led buyout of the company in late 2019, financed by the asset management firm Guggenheim Investments and the Singapore sovereign-wealth fund Temasek Holdings.

And Eastdil recently lost its founder and longtime chairman Ben Lambert, who died in early February at the age of 82.





    Related Articles

    arrow_forward_ios
    Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
    EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
    EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
    Best Buy has closed about 20 of its big-box stores in each of the past two years (iStock)
    Best Buy lays off 5,000 staffers, increases store closures
    Best Buy lays off 5,000 staffers, increases store closures
    Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
    Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
    Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
    Cushman & Wakefield CEO Brett White
    Cushman reports 10% drop in revenue in 2020
    Cushman reports 10% drop in revenue in 2020
    Central Queens Academy's Ashish Kapadia and United's Chris Jiashu Xu with a rendering of 88-08 Justice Avenue (Linkedin, iStock)
    Charter school takes 85K sf in Queens condo building
    Charter school takes 85K sf in Queens condo building
    (IStock illustration by Kevin Rebong)
    Smaller cities look to cash in on shift to remote work
    Smaller cities look to cash in on shift to remote work
    421-427 East 14th Street (Google Maps, iStock)
    Stuy Town to get new 17K sf grocery store
    Stuy Town to get new 17K sf grocery store
    Photo illustration of Mayor Bill de Blasio as Uncle Sam (iStock, Getty/Illustration by Kevin Rebong)
    NYC has $1.3B in unpaid property taxes
    NYC has $1.3B in unpaid property taxes
    arrow_forward_ios

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

    Loading...