Mergers and Acquisitions
The Power Broker
BGC Partners announced late Monday night that the firm, which last year expanded into the real estate services business by buying Newmark Knight Frank, is further growing in the industry by acquiring the California based company Grubb & Ellis.
In January, a leak to the Bergen County Record revealed that Panasonic, a tenant in New Jersey since 1973, was considering fleeing the state in search of modern facilities and with an eye toward shrinking its North American headquarters. New York, Atlanta, Chicago and California were all on the table.
Animals, Doing Little
Newmark Knight Frank brokers are being asked to contribute as much as ten percent of their commissions into stock in BGC Partners, the publically owned financial company that in recent weeks acquired the real estate services firm.
“Animal lover” is not the first phrase that comes to mind when describing Barry Gosin, gruff, no-nonsense principal and CEO of one of the city’s largest real estate brokerages, Newmark Knight Frank. But come June, Mr. Gosin will be the owner of three darling llamas named Lilly, Toulouse and Buck, the latter such Read More
A half-century ago, the imperious Port Authority director Austin Tobin unveiled a plan for the public agency to build two gigantic towers on the western edge of a struggling Lower Manhattan, creating a new office district, a city within a city, of 9 million square feet.
Built in the early 1970s, the World Trade Center Read More
Succession: another pesky consideration attendant upon the awareness of one’s mortality. Now that Newmark Knight Frank’s leaders, Barry Gosin, Jeff Gural and Jimmy Kuhn, are all in mid-to-late middle age and spending a lot of their time on philanthropic works, which young upstarts will ultimately fill their shoes? And who will ensure that Newmark Knight Frank, Read More
The light-eyed, round-headed Scott Panzer flew the coop this month, migrating from brokerage Newmark Knight Frank to what he describes as the fairer environs of rival firm Jones Lang LaSalle.
Mr. Panzer has taken a 12-member (possibly 13-member) team along for the ride, one that includes 20-year commercial veterans Deborah van der Heyden and Robert Read More
In today’s commercial real estate thunderdome, at least two major brokerages have decided to attack that most sacrosanct of institutions: the broker commission.
First up is the venerable Cushman & Wakefield, which has made it more difficult for brokers to earn bonuses. Cushman encourages its brokers to close deals by tacking 5, 10 or Read More
Mazel tov to Barry Gosin, CEO of Newmark Knight Frank, and Jeffrey Gural, chairman of Newmark, both of whom took home the coveted Jack D. Weiler Award today at an annual UJA Federation of New York luncheon at the Pierre.
The UJA Federation’s Real Estate Division Executive Committee, which held the luncheon, reads like a Read More
Newmark Knight Frank C.E.O. Barry Gosin in this morning's Wall Street Journal:
"There is a slowdown… Any major financial institution is not in a hurry to rent space right at the moment."
Other old pros in New York commercial real estate have been saying the same thing recently about the office market. Read More