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    Eastdil Secured

    40 West 57th Street, 22nd Floor
    New York, NY 10019
    (212) 315-7200
    Website

    Eastdil Secured is a real estate investment bank that acts as a brokerage for large deals involving Class-A office buildings in central business districts or portfolios of buildings. The firm is a roll-up of various acquisitions, based on Eastman Dillon Union Securities, founded by Ben Lambert in 1967. In turn, the firm became a target when NYSE-listed Wells Fargo acquired it (then called, Eastdil Realty) in 1999. In 2005, Wells Fargo also acquired Los Angeles-based real estate investment banking firm Secured Capital Corp. and merged it with Eastdil to create Eastdil Secured.

    The firm got the assignment that made its reputation in New York City in 1997: to sell the $5 billion commercial and residential portfolio of Leona Helmsley, amassed by her husband, Harry. The 125 buildings, including 230 Park Avenue, the Starrett-Lehigh Building at 601 West 26th Street and the Graybar Building at 420 Lexington Avenue, took several years to unload. Since the merger of Eastdil and Secured under the Wells Fargo umbrella, the combined firm brokered over $1.2 trillion in completed transactions, according to its website.

    In 2019, Lambert and CEO Roy March orchestrated a management-led buyout in a venture with Guggenheim Investments and Singapore sovereign-wealth fund Temasek Holdings.

    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Limited Liability Broker
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Limited Liability Broker
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Associate Broker
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Limited Liability Broker
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Associate Broker
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Real Estate Salesperson
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    Eastdil Secured, Associate Broker
    40 West 57th Street, 22nd Floor, New York, NY, (212) 315-7200
    ...
    To see all, go to Advanced Search
    • Event Financing
    • Address 441 Ninth Avenue
    • Neighborhood Hudson Yards
    • Borough Manhattan
    • Square feet 700,000
    • Price $ 724,200,000
    • Publication Date 11/29/2019
    • Event Date 11/25/2019
    • Party 1 Cove Property Group
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Grant Frankel, Phil McKnight, Ethan Pond
    • Party 2 Blackstone Mortgage Trust
    notes
    The owner secured a loan of $724.2 million for the Hudson Yards property.
    • Event Financing
    • Address 620 Sixth Avenue
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 760,000
    • Price $ 421,000,000
    • Publication Date 10/25/2019
    • Event Date 10/22/2019
    • Party 1 RXR Realty
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Grant Frankel, Rob Turner
    • Party 2 Goldman Sachs
    notes
    The lender issued a loan of $421 million for the Financial District property.
    • Event Sales
    • Address 175 Water Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 270,000,000
    • Publication Date 10/11/2019
    • Event Date 09/26/2019
    • Party 1 AIG
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Gary Phillips, Will Silverman, Jeff Organisciak
    • Party 2 Metro Loft Management
    notes
    The buyer bought the Financial District property for $270 million.
    • Event Sales
    • Address 175 Water Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 270,000,000
    • Publication Date 10/11/2019
    • Event Date 09/26/2019
    • Party 1 AIG
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Gary Phillips, Will Silverman, Jeff Organisciak
    • Party 2 Metro Loft Management
    notes
    The buyer bought the Financial District property for $270 million.
    • Event Financing
    • Address 575 Fifth Avenue
    • Neighborhood Grand Central
    • Borough Manhattan
    • Price $ 309,000,000
    • Publication Date 08/30/2019
    • Event Date 08/28/2019
    • Party 1 Beacon Capital Group
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Grant Frankel, Ethan Pond
    • Party 2 TPG Real Estate Finance
    notes
    The owner secured a loan of $309 million for the Grand Central property.
    • Event Sales
    • Address 130 Prince Street
    • Neighborhood Soho
    • Borough Manhattan
    • Square feet 88,000
    • Price $ 206,000,000
    • Amount Price 206000000
    • Publication Date 08/02/2019
    • Event Date 07/30/2019
    • Party 1 Invesco Real Estate
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Evan Layne, Brett Siegel
    • Party 2 Madison Capital
    • Party 2 Brokerage Eastdil Secured
    • Party 2 Broker Evan Layne, Brett Siegel
    notes
    The buyer purchased the Soho property for $206 million.
    • Event Financing
    • Address 29-22 Northern Boulevard
    • Neighborhood Long Island City
    • Borough Queens
    • Price $ 240,000,000
    • Publication Date 06/20/2019
    • Event Date 06/21/2019
    • Party 1 Simon Baron Development
    • Party 1 Brokerage Eastdil Secured
    • Party 2 Société Générale, Deutsche Pfandbriefbank
    notes
    The lender issued a loan of $240 million for the Long Island City property.
    • Event Sales
    • Address 60 West 37th Street
    • Neighborhood Garment District
    • Borough Manhattan
    • Price $ 195,000,000
    • Publication Date 01/28/2019
    • Event Date 01/23/2019
    • Party 1 AIG Global Real Estate
    • Party 1 Brokerage Eastdil Secured
    • Party 2 Ashford Hospitality Trust
    • Party 2 Brokerage Eastdil Secured
    notes
    The buyer acquired the Garment District property for $195 million.
    • Event Sales
    • Address 470 Park Avenue South
    • Neighborhood Midtown South
    • Borough Manhattan
    • Square feet 300,000
    • Price $ 245,000,000
    • Publication Date 12/23/2018
    • Event Date 12/19/2018
    • Party 1 SJP Properties, Prudential Financial
    • Party 2 Norges Bank Real Estate, Nuveen
    • Party 2 Brokerage Eastdil Secured
    notes
    The buyer secured the Midtown South property for $245 million.
    • Event Financing
    • Address 77 West 66th Street
    • Neighborhood Lincoln Square
    • Borough Manhattan
    • Square feet 420,000
    • Price $ 715,000,000
    notes
    The owner secured a loan of $715 million for the Lincoln Square property.
    • Event Sales
    • Address 120 West 57th Street
    • Neighborhood Midtown West
    • Borough Manhattan
    • Square feet 128,433
    • Price $ 41,000,000
    notes
    The buyer entered into a contract to purchase the Midtown hotel for $41 million.
    • Event Financing
    • Address 541 Lexington Avenue
    • Neighborhood Upper East Side
    • Borough Manhattan
    • Square feet 317,496
    • Price $ 170,000,000
    notes
    The owners secured a $170 million loan to refinance the Upper East Side property.
    • Event Sales
    • Address 160 West 97th Street
    • Neighborhood Upper West Side
    • Borough Manhattan
    • Square feet 503,511
    • Price $ 287,000,000
    notes
    The buyer acquired the Upper West Side protfolio for $287 million.
    • Event Sales
    • Address 1440 Broadway
    • Neighborhood Midtown
    • Borough Manhattan
    • Square feet 747,576
    • Price $ 520,000,000
    notes
    The buyer acquired the Midtown building for $520 million.
    • Event Financing
    • Address 1440 Broadway
    • Neighborhood Midtown
    • Borough Manhattan
    • Square feet 747,576
    • Price $ 360,000,000
    notes
    The owner secured a loan for $360 million for the Midtown building.
    • Event Financing
    • Address 53-83 Water Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 443,000
    • Price $ 250,000,000
    notes
    The real estate investment company acquired a $250 million loan for the Empire Stores complex.
    • Event Sales
    • Address 85 Broad Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 1,120,000
    • Price $ 652,000,000
    • Price per foot $ 582.00
    notes
    The 30-story building in the Financial District was sold for $652 million.
    • Event Sales
    • Address 149 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 127,000
    • Price $ 88,000,000
    notes
    The 12-story office building was sold for $88 million.
    • Event Sales
    • Address 147-149 Madison Avenue
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 119,006
    • Price $ 88,000,000
    notes
    The Atlanta-based office-centric real estate investment trust acquired the land beneath the office property for nearly $88 million.
    • Event Sales
    • Address 150 East 34th Street
    • Neighborhood Kips Bay
    • Borough Manhattan
    • Square feet 176,600
    • Price $ 120,000,000
    notes
    The 37-story, 252-key hotel was sold for $120 million.
    • Event Sales
    • Address 133 Greenwich Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 130,054
    • Price $ 206,000,000
    notes
    The 317-key hotel was sold for $206 million.
    • Event Sales
    • Address 1221 Sixth Avenue
    • Neighborhood Times Square
    • Borough Manhattan
    • Square feet 2,508,386
    • Price $ 1,000,030,000
    notes
    The Chinese sovereign wealth fund bought a 45% equity stake for $1.03 billion.
    • Event Sales
    • Address 47-25 34th Street
    • Neighborhood Long Island City
    • Borough Queens
    • Square feet 322,390
    • Price $ 89,000,000
    • Price per foot $ 276.00
    notes
    The office building sold for $89 million.
    • Event Sales
    • Address 1 Soho Square
    • Neighborhood SoHo
    • Borough Manhattan
    • Square feet 750,000
    • Price $ 650,000,000
    • Price per foot $ 866.00
    notes
    A 40% interest in the office and retail project sold for $650 million.
    • Event Sales
    • Address 950 Second Avenue
    • Neighborhood Midtown East
    • Borough Manhattan
    • Price $ 25,500,000
    • Publication Date 09/01/2016
    • Event Date 07/15/2016
    • Party 1 CB Developers
    • Party 1 Brokerage Eastdil Secured
    • Party 1 Broker Adam Etra
    • Party 2 Klein International Group
    • Party 2 Brokerage Cushman & Wakefield
    • Party 2 Broker Alex Ray
    notes
    The retail condominium sold for $25.5 million.
    To see all, go to Advanced Search


    02/11/2019
    Cushman & Wakefield â€' long used to playing third string behind competitors Eastdil Secured and CBRE â€' grew its lead by leaps and bounds since poaching Eastdil’s top sales team, led by Doug Harmon and Adam Spies, in late 2016...

    05/21/2018
    CBRE took the second spot this year in The Real Deal’s ranking of the top commercial sales brokerages across the country, with 608 transactions worth just over $6.5 billion. It came up behind Marcus & Millichap, which logged $11.3 billion in sales for 3,564 properties. In third place was Eastdil Secured, with $6 billion in deals for 208 properties...

    02/01/2018
    A little over a year after poaching Eastdil Secured’s star investment sales brokers, Doug Harmon and Adam Spies, Cushman & Wakefield swooped in to capture the No...

    02/01/2017
    For 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...

    12/29/2016
    Clockwise from left: Olayan Group's Hutham Olayan, RXR Realty's Scott Rechler, CalPERS' Marcie Frost, 550 Madison Avenue, 787 Seventh Avenue and 388-390 Greenwich Street Manhattan Clockwise from left: Olayan Group's Hutham Olayan, RXR Realty's Scott Rechler, CalPERS' Marcie Frost, 550 Madison Avenue, 787 Seventh Avenue and 388-390 Greenwich Street Manhattan...

    12/01/2016
    About a year ago, it snagged Winick Realty’s Diana Boutross, who had brokered Whole Foods’ Williamsburg lease among other big deals. And, of course, outside of retail on the investment sales front, it recently scored the coup of the year when it lured over Doug Harmon and Adam Spies from Eastdil Secured...

    09/28/2016
    German insurer Allianz SE bought a 44 percent stake in 10 Hudson Yards from leather retailer Coach, which initially bought the condo for its 738,000-square-foot corporate headquarters there. CoStar Group valued the stake sale at $946 million, making it the sixth most expensive sale of 2016 so far. The deal brings the building’s total value to $2.15 billion, according to CoStar. Eastdil Secured’s Doug Harmon represented Coach on the deal...

    05/01/2016
    Two firms dominated the high-value commercial mortgage brokerage business in New York City last year: Eastdil Secured and Meridian Capital Group, an exclusive analysis by The Real Deal found...

    02/16/2016
    Source: Firm data and Real Capital Analytics Did you know Eastdil Secured has sold the most investment-grade real estate of any New York brokerage every year since Source: Firm data and Real Capital Analytics Did you know Eastdil Secured has sold the most investment-grade real estate of any New York brokerage every year since...

    02/01/2016
    What we found was that Eastdil Secured not only bested all other firms but also set a city record â€' $22.7 billion â€' for the most-ever closed sales in a year by a single brokerage...

    11/01/2015
    Last year, CWCapital, which took control of the complex after the default, tapped Eastdil Secured’s Douglas Harmon to market it for sale...

    02/02/2015
    CBRE’s Darcy Stacom and Eastdil’s Doug Harmon One of New York City’s longest-standing rivalries, between Eastdil Secured and CBRE for the lead in investment sales, CBRE’s Darcy Stacom and Eastdil’s Doug Harmon One of New York City’s longest-standing rivalries, between Eastdil Secured and CBRE for the lead in investment sales,...

    01/02/2015
    New buyers weren’t the only ones making a splash. Eastdil Secured, a division of banking giant Wells Fargo, had their superstar brokers Douglas Harmon and Adam Spies close nine of the top 10 deals of the year, including Werner’s top two purchases...

    03/14/2014
    From left: Howard Michaels, 1095 Sixth Avenue, Ralph Herzka, Robert Verrone and Simon Ziff The investment-banking giant Eastdil Secured and the financial brokerage firm Meridian From left: Howard Michaels, 1095 Sixth Avenue, Ralph Herzka, Robert Verrone and Simon Ziff The investment-banking giant Eastdil Secured and the financial brokerage firm Meridian...

    03/01/2014
    From left: Adam Spies, Doug Harmon, William Shanahan and Darcy Stacom In the last year, the number of New York City buildings sold with the From left: Adam Spies, Doug Harmon, William Shanahan and Darcy Stacom In the last year, the number of New York City buildings sold with the...

    10/01/2013
    One of the next Financial District office buildings to trade may be 110 William Street, a 900,000-square-foot office property owned by landlord Kent Swig. Doug Harmon and Adam Spies of Eastdil Secured are marketing the property, which does not have a publicly available asking price...

    03/01/2013
    But it was a mixed year for the city’s top two firms â€' Eastdil Secured (which had $7 billion in sales) and CBRE Group (which had $3.5 billion)...

    01/01/2013
    While no brokerage firm dominated the top 10 investment sales, Eastdil Secured’s team of Douglas Harmon and Adam Spies represented the most deals, with three transactions totaling $1.38 billion...

    12/01/2012
    The deals were done by a remarkably small group of brokers. Eastdil Secured’s Doug Harmon and Adam Spies handled six of the deals, while the CBRE Group’s Darcy Stacom and William Shanahan represented the sellers on two...

    10/03/2011
    Yet while Eastdil Secured and CBRE are in their own league nationally (with the nearest firms, such as Holliday Fenoglio Fowler and Cushman & Wakefield, closing only about half of their levels), the former took an atypical path to the top...

    12/30/2009
    From left: 444 Madison Avenue, 666 Fifth Avenue, and 1301 Sixth Avenue New York City's top commercial brokerages have jockeyed for market share over the past From left: 444 Madison Avenue, 666 Fifth Avenue, and 1301 Sixth Avenue New York City's top commercial brokerages have jockeyed for market share over the past...
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