Cushman & Wakefield scored a coup last month when it hired away CB Richard Ellis’ head of brokerage operations for Midtown as well as other employees from the company.
CB Richard Ellis responded by drawing from its deep bench to appoint a new head for Midtown operations from the company’s Stamford office.
In the ongoing rivalry between the two biggest commercial firms in New York, Joe Harbert, previously vice chairman and general manager for CBRE, was lured away to Cushman as chief operating officer for its New York metro region.
Harbert started in real estate in 1987 at the Edward S. Gordon Company, which later became Insignia/ESG, and was part of the old establishment of that company, which merged with CB Richard Ellis last year.
Some industry observers had predicted a significant amount of departures from the company following the giant merger, but that has yet to materialize. Harbert didn’t return calls for comment, and it was unclear whether his departure was related to the aftermath of the two firms coming together.
Peter Riguardi, president of Jones Lang LaSalle in New York, said the move was unexpected.
“Joe Harbert was a surprise – though brokers tend to move around a little bit,” he said. “I’m sure that was a big loss for them.”
While he said he didn’t know the reason for the departure, Riguardi noted that “it always takes a couple of years” for things to settle out when mergers take place.
“Also, there is always a change when you go to a locally managed firm to a firm managed from somewhere else,” he said.
At CBRE, Harbert had also headed brokerage operations Downtown and was in charge of retail services. Prior to entering real estate, the political science PhD had co-authored a book on international relations and served as deputy executive director of real estate for the Metropolitan Transportation Authority.
To replace Harbert, CBRE drew from its Stamford office. Dean Shapiro had run the company’s Westchester and Fairfield operations since 1999, bringing about a 300 percent growth in revenue over that period, according to CBRE.
Shapiro was also part of a CBRE team that last year garnered the Fairfield County Deal of the Year Award from NAIOP, for a deal that secured a new corporate headquarters for the Golf Digest division of Advance Publications.
Steve Iaco, senior managing director for corporate communications at CBRE, said Shapiro would bring a more hands-on style than Harbert.
“Joe is a fantastic guy, and I think Dean brings different attributes to the equation,” he said, adding that Shapiro was more actively involved in “client services and business development” while Harbert had “more of a managerial role.”
Shapiro also has experience in New York City, working as a member of CBRE’s consulting group from 1989 to 2000. In Stamford, he will be replaced by Robert Caruso, who served as the second in command there.
Last month, C & W also rehired top broker Michael Burgio following a two-year stint with CBRE.
Burgio started with C & W in 1984, and was named as one of the company’s top 10 brokerage professionals in the nation on two occasions.
Some of his notable recent transactions include a 210,000 square foot lease renewal for New York Presbyterian Hospital and a 107,000 square foot lease for Beth Israel Hospital.
In another hire, C & W brought on board John Gallagher to serve as a director of brokerage services for its New York offices. The newly created position will be partly technological and research-driven in nature, and Gallagher will be responsible for monitoring and coordinating brokerage resources for business development opportunities.