When it comes to org structure? Obviously they are rapidly expanding and poaching guys left and right. They recently brought on Firestone in LA to Co lead debt/equity. Is Dustin still there? Every deal I have seen lately is Jordy leading what seems to be his own group now? Just curious.
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Think there was an article in the Real Deal about what's going on ("Newmark is playing for commercial's No. 1 spot), seems the Chairman and CEO pushed for big payouts recently and who knows how the real structure. I think it's a if you're close to them then you're good, is what the article made it seem like.
They're looking to grow, but you have to be on a top team there. It's funny you say that about Dustin because I was thinking the same.
Just poached Dean Zander from CBRE to lead multifamily sales too. It’s quite impressive what they’ve done to be honest, but know nothing behind the scenes
Also saw a tweet back in April by Hiten from TRD saying Stolly was on a leave of absence with uncertainty of return. His profile is still up on Newmark’s site but who knows
I wouldn’t say they poached him. Pretty sure he got the boot so that CB could bring back Rachel Parsons to head up institutional sales in So Cal. Newmark is B Tier.
I bet the CB house cut is a lot higher than Newmark split. broker probs walks away with more all in at Newmark.
Downside is the people tend to see CB as more well respected compared to Newmark. If you're a senior broker with established relationships, the CB banner holds less upside to you.
Reason being, no1 cares who you work for really. Only the younger brokers need the brand support / affiliation / senior brokers in house to close deals.
So at the end of the day, once you're senior, your clients follow you wherever. It is also common for brokerages to literally pay another broker to join their firm, like a lump sum payment of a $100k- ??? . Maybe less popular now adays with the market.. but you can see the blocks really start to favour brokerages with smaller house splits if you have decent relationships.
// Personal opinion only //
splits are great on IS side
Would be interesting to do a look back 5 years from now and see if the people are still there. They’ve spent a ton of capital and are still aggressively recruiting top producers in both leasing and cap mkts.
personally not sure the roi would be there but who knows.
Bump, does anyone know where Dustin is going? Do we think this inadvertently affects the LA debt team as well?
Also following, just saw the Real Deal note
Given they hired Firestone from Eastdil out in LA the impact is likely minimal.
Lol if you read the article Stolly had T12 $30-40 billion in production ending in May of 2023, one guy no ones heard of doesn't mitigate that loss.
Dustin’s been out of the picture for a couple months for some serious personal issues. The team is still gonna be the top debt team in the country though with Firestone. There’s very few teams that can compete with them atm.
interested in this as well.
I don’t get why everyone cares. People have personal issues. Life happens. Stop asking questions. If he wanted the world to know - he would tell people. But he doesn’t. So respect his privacy.
what's up with newmark calling everyone MDs and senior MDs? talking multiple people 30 y/o. anyone know how much these guys get paid?
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