The Real Deal New York

Category: Investment sales firms

  • Pete Briger, Wes Edens and Stuyvesant Town-Peter Cooper Village (Credit: Getty Images)

    Fortress Investment Group — the $70 billion investment manager that’s an active lender in New York real estate — is being acquired for $3.3 billion. [more]

  • (Clockwise from top left) Paul Leibowitz, David Heller, Michael Rotchford, David Krantz and Woody Heller

    Savills Studley is beefing up its capital markets department, the latest in a string of poaches the industry has seen in recent months.

    The brokerage hired CBRE sales brokers Paul Leibowitz and David Krantz, as well as former Cushman & Wakefield executive Michael Rotchford, Crain’s reported. [more]

  • Barry Gosin and Howard Lutnick

    Howard Lutnick’s BGC Partners, the parent company of Newmark Grubb Knight Frank, took the first step Thursday toward spinning the brokerage off into a separate company through an initial public offering.

    The company issued a statement Thursday saying it had confidentially submitted a draft registration statement relating to the IPO with the Securities and Exchange Commission. [more]

  • Joseph Harbert, the presidentof Colliers’ NYC operations (Photo by Michael McWeeney)

    From the February issue: Colliers International’s New York City office has never exactly been a selling point for the commercial brokerage.

    Unlike many of its leading rivals — such as Cushman & Wakefield, CBRE, JLL and Eastdil Secured — the firm has had little to no presence in the competitive worlds of institutional investment sales and retail leasing in NYC. [more]

  • From the February issueFor the last six years, Eastdil Secured has beat out the competition, landing the top spot on The Real Deal’s ranking of New York City investment sales firms. While the brokerage continued that streak in 2016, the stage has already been set for a major shakeup in the coming year.

    That’s because in October, the firm’s two biggest brokers, Doug Harmon and Adam Spies, stunned the industry and fled to Cushman & Wakefield after a combined 40 years at Eastdil.

    But before the duo departed, they helped Eastdil reel in a record $22.9 billion worth of investment sales for the year. [more]

  • Darcy Stacom and William Shanahan

    In a season where a hefty chunk of the city’s investment sales elite have jumped ship to other firms, CBRE’s top duo is staying put.

    Darcy Stacom and Bill Shanahan, who run CBRE’s investment sales division in New York, opted to renew their contracts with the brokerage for another five years, The Real Deal has learned. Their contracts are now set to expire in 2022, sources said. [more]

  • From left: Yoron Cohen and Charles Harder

    Yoron Cohen, formerly a top investment sales broker at JLL who moved over to Colliers International in December, is planning to sue his former employer for defamation, he told The Real Deal.

    The dispute stems from a TRD Jan. 6 article titled “Inside the exodus of JLL’s I-sales quartet,” in which a high-level JLL executive said that Cohen, along with his colleagues Richard Baxter, Scott Latham, and Jon Caplan, were told in early 2016 that they were underperforming. The executive added that Cohen and his colleagues were given an ultimatum in September. [more]

  • From left: Richard Baxter, Scott Latham, Yoron Cohen and Jon Caplan, and Peter Riguardi and Joe Harbert

    Fried Frank’s Cipriani bash in December also served as a debutante ball of sorts for Richard Baxter, Yoron Cohen and Scott Latham.

    The trio were making their first high-profile industry appearance as brokers for Colliers International, just a day after they announced their surprise move to the firm from JLL. They exchanged hugs with former JLL colleagues, and the interactions seemed warm. Latham’s name tag still said “Jones Lang LaSalle.”

    But in the weeks since their departure, two conflicting narratives have emerged: While sources close to Baxter, Latham and Cohen say JLL urged them to stay on, high-level sources at JLL say the brokers were underperforming. [more]

  • From left: Stephen Shapiro, Jason Gold and Joe Harbert

    Colliers International continues to raid JLL.

    The firm, which is looking to ramp up its investment sales practice, has hired Stephen Shapiro and Jason Gold from JLL’s capital markets team. [more]

  • From left: Evan Denner and Simon Ziff

    Ackman-Ziff Real Estate hired Evan Denner to expand the brokerage’s investment sales operation and other areas of business with several senior-level hires, the firm told The Real Deal.

    Denner, co-founder of merchant banking firm Lauderhill Partners, joined the Midtown-based finance brokerage late last month as an adviser. He is focusing on growing the investment sales and joint-venture equity divisions in New York and the satellite offices. [more]

  • Clockwise from left: Doug Harmon, Adam Spies, Richard Baxter, Scott Latham, Toni Haber, Wendy Maitland and Brenda Powers

    Commercial brokerages got a taste of the drama long associated with the residential world in 2016, when top New York investment sales brokers defected to rival firms. [more]

  • From left: Richard Baxter, Yoron Cohen and Scott Latham

    From left: Richard Baxter, Yoron Cohen and Scott Latham

    UPDATED, Dec. 5, 12:56 p.m.: JLL’s leading investment sales brokerage team of Richard Baxter, Yoron Cohen and Scott Latham is jumping ship to Colliers International, the firm announced Monday.

    The move comes two months after Eastdil Secured’s Doug Harmon and Adam Spies, the city’s top brokers by deal volume, left for Cushman & Wakefield. [more]

  • From left: Douglas Harmon, Adam Spies, and Brett White

    From left: Douglas Harmon, Adam Spies and Brett White

    From the Los Angeles website: After Cushman & Wakefield poached New York power brokers Douglas Harmon and Adam Spies from Eastdil Secured last month, there were rumors Cushman would use Eastdil’s offices around the country as its hiring ground. But, according to REAlert, warnings from Eastdil’s parent company Wells Fargo may have halted those plans.

    After Wells approached him, Cushman CEO Brett White agreed to avoid recruiting from Eastdil for a year-long period, sources told REAlert. The sources said Wells’ warning was connected to agreements that Spies and Donner signed at Eastdil, limiting their ability to recruit other Wells employees or solicit Wells clients for a period of one year. [more]

  • From left: Marcella Fasulo, Doug Harmon and Darcy Stacom

    From left: Marcella Fasulo, Doug Harmon and Darcy Stacom

    He may be at Cushman & Wakefield now, but Doug Harmon’s rivalry with CBRE’s Darcy Stacom is showing no signs of cooling off.

    CBRE’s Marcella Fasulo has joined the new New York capital markets team at Cushman & Wakefield recently formed by Harmon and partner Adam Spies, a Cushman spokesperson confirmed. Fasulo served as senior vice president at CBRE under Stacom, who runs that brokerage’s investment sales operation with Bill Shanahan. [more]

  • From left: Brett White, Doug Harmon, Adam Spies and Bob Knakal

    UPDATED, 10:43 a.m., Oct. 19: Doug Harmon and Adam Spies had a good thing going at Eastdil Secured. The duo brokered some of the city’s largest deals, and enjoyed the status of being top of the New York investment sales heap.

    So why make a move to Cushman & Wakefield, which despite its pedigree and size, remains a laggard in investment sales? Market observers speculated compensation would have been the big draw, with private equity-backed Cushman willing to reward top performers. But interviews with sources both within and outside Cushman reveal an even bigger sweetener, one that allows them to be potentially involved in every big investment sales deal the firm does in New York. [more]

  • From left: Gary Barnett, Joe Chetrit, Doug Harmon and Adam Spies

    From left: Gary Barnett, Joe Chetrit, Doug Harmon and Adam Spies

    Poaching the trophy hunters: New Yorkers aren’t in the habit of looking to Boston for anything. But it might be worth making an exception to understand Cushman & Wakefield.

    Last September, Cushman’s New England division took a body blow when Rob Griffin, Boston’s top real estate rainmaker, decamped for Newmark Grubb Knight Frank. Seventy other Cushman brokers and employees joined him there, leaving Cushman decimated.  [more]

  • Eastdil ii

    From left: Doug Harmon, Roy March (credit: ULI) and Adam Spies

    On Thursday afternoon, Eastdil Secured CEO Roy March received the industry’s equivalent of the 3 a.m. phone call.

    On the line were his star brokers Doug Harmon and Adam Spies, who had catapulted Eastdil to the top of the New York investment sales food chain. The duo informed March they were leaving the firm for Cushman & Wakefield. Minutes later, the news hit the press. [more]

  • From left: Douglas Harmon, Adam Spies, and Brett White

    From left: Douglas Harmon, Adam Spies and Brett White

    Eastdil Secured’s Doug Harmon and Adam Spies, who head the top investment sales team in New York City, are jumping ship to Cushman & Wakefield, sources told The Real Deal. [more]