One Vanderbilt 2.25B Refi
NKF Stolly and Jordy brokering this with Goldman and WF as lead lenders. Highest single asset financing ever.
How much will Dustin and Jordy net approximately on a deal like this?
Well...if you do the math, just multiply the loan by .25%-1% and you’ll see the range. For all we know it’s lower or higher, but that’s a good start. Now that you know the gross commission, you’ll have to know their split with the brokerage firm and than their individual cut between themselves and their team.
There is no way they even get 20 bps, shoot on 50MM loans I get corespondent brokers down to that level.
I LOL'd at even 25 bps, forget about 100 bps.
No
Worst kept secret is how commissions are super negotiable and can be a race towards the bottom. There is no fixed %. In a perfect world everyone would love to get 100 bps but it just does not work that way often. Of course, because of ego and marketability reasons, everyone has to pretend they are killing it, but it's not like you are seeing their tax returns, you just have to go by their word. As a data point, nobody knows for sure what was Darcy Stacom's commission when she brokered a $5.4 billion sale of Stuyvesant Town and Peter Cooper Village but it was rumored to be 0.09 or 0.10%, still ~$5MM or so is huge but the industry operates in a such a way that everybody likes to pretend to make more money than they actually make.
^^^This. Race to the bottom is the best way of putting it. At the end of the day, brokers rather take something than lose the deal and get nothing. I've seen 15 bps fees on a $75M MF sale. Thats a $112k. Yes the fee sucks relative to the deal size for sure, but at the end of the day its a $112k for blasting emails and doing tours.
They're not getting paid 1% haha
they will get like 10-15 basis points.
Everyone over thinks it way too much. They’re going to get a market fee of 10-15 bps. I know several people on the team and what they charge in fees from having competed with them for business.
You’ve gotten most of your answers already. I will add this point, which I haven’t seen yet. This is from HFF days. As soon as you are financing a larger transaction ($100M+) the larger it gets the less it is tied to the actual transaction $. An agreement for a flat fee would be agreed to. Call it $750k-$1.25M as the cap.
Update:
https://www.globenewswire.com/news-release/2021/06/28/2253779/0/en/SL-G…
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