Commercial real estate is one of the most opaque sectors of the industry.
So what better way to get some honest takes than to sit down TRD’s Amir Korangy with a C-suite executive at a major New York City commercial brokerage and grant him anonymity.
This unnamed exec, who has closed over $1 billion in deals, gives an unfiltered look at who holds the power, where the money flows, and why most newcomers don’t survive.
Asked to rank the industry by prestige, the masked insider placed asset brokers and leasing brokers at the top, followed by debt brokers and then everything else in CRE. Residential brokers came in at the bottom. He also got candid about the two types of brokers and how the majority of them make their way out of the revolving door within the first two years.
So how much can a single deal net a top broker? “Upwards of $20 million,” he said, adding that he’s heard of signing bonuses breaking eight figures. “Laker numbers,” as Korangy put it.
The power player didn’t shy away from naming names, including his picks for the next Mary Ann Tighe and the toughest landlords to deal with in the industry. He spoke bluntly about the future of Cushman & Wakefield, what he thinks is the most overhyped sector in the industry, and how Jared Solomon ended up accused of embezzling millions from Vornado.
Watch the full interview above and follow us on Instagram for more hot takes.
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