Retail condo specialist launches new firm

Kevin Salmon
Kevin Salmon

Kevin Salmon, formerly of the commercial brokerage Salmon & Marshall, has launched his own Manhattan company, Khizer Salmon Real Estate Professionals.

The new firm will focus on retail condo and multi-family building sales in New York City and the tri-state area.

Khizer Salmon has set up shop in a 1,000-square-foot space at 505 Park Avenue, where Salmon works with two other agents and a marketer.

Salmon, 40, began his career in 1999 at Marcus & Millichap’s Manhattan office. He rose steadily through the ranks, eventually becoming the firm’s vice president of investments.

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In 2009, he formed Salmon & Marshall with a Marcus & Millichap colleague, Matthew Marshall. The two decided to part ways last year, though Salmon said the two are still friends. Following the split, Marshall launched Marshall Real Estate.

Salmon said his specialty is retail condos. “I would give myself credit for coming up with the concept of making retail condos part of the business plan,” he claimed, adding that he has spent years building a database of retail properties in New York City.

Marshall Real Estate, which also focuses on retail condos, is perhaps Khizer Salmon’s main competition, Salmon said, since few firms focus on that market segment, though the investment sales firm Eastern Consolidated did launch a new retail sales division this fall.

Khizer Salmon has two mixed-use Manhattan buildings currently in contract and is marketing some $30 million in retail condos, including an 11,806-square-foot space at 261 Broadway listed for $9 million. Salmon, whose longtime clients include Ashkenazy Acquisitions and Ascot Properties, said he is also courting some foreign investors. “New York is the place where everyone wants to own retail,” he said.