PEAK in NYC, Any Insight?

Saw they may be hiring, any insight into the team? Saw some random comments online that one of the owners owes someone $1mm and screwed them. Obviously job market is tough and seems they've been buying/taking out loans later than most people and not sure if they're really getting a good basis for what they've been doing (value add MF in Queens).

 

Pedigree like degree quality or lack thereof or prior relevant industry experience? No base pay plus comish? How is the comish calculated? 

 

Job description said it was commission based but did not provide details. As for experience, I didn’t see anyone that had lengthy experience at a well-known or strong shop. Doesn’t have to be BX or STWD but just a proven sponsor that has been profitable since prior to 08. I’d be wary of joining a firm where the senior execs only have experience in this low-interest rate environment. Cheap debt makes everyone look like winners.

 
Funniest

Love how, without fail, any NY job that gets posted to selectleaders elicits a post on this forum. Bonus points when OP does a weak lead in by saying "looks like they do [insert 5 second observation from company website], anyone know what their culture / hours / pay is like? Double bonus if exit opps is mentioned.

 

True syndicator shop, trying to grow quickly but in no surprise capital is harder to come by. On their vintage assets, I believe the only way they can get out profitable is by offloading to an outlier either foreign or 1031 buyer. However, I do think this could be decent experience as I would assume you’d go cradle to grave on small deals and eventually be set up to go out on your own, if the $2-$5mm nyc rent regulated multi market is one you want to be in. Just need to realize you’re not joining a well capitalized fund with institutional backers, you’re going to be at a place that will be cobbling together $2mm in equity in anyway possible to buy a 10 unit walk up in queens with shitty paperwork. 

 
Most Helpful

So I know Alex and have spoken with David before.

They focus on sub $20mm, middle market deals in NYC.  They are good people. I know Alex has a pretty decent pedigree, with stints at Stellar management, TIAA CREF(pre-Nuveen), and RWN(Mark Rowan founder of Apollo). We was able to bootstrap his way to his own company, good for him. It is something we all wish we could do and he did it.

Last time I spoke to him a couple years ago he was raising capital from family offices for GP and LP capital. I know one of his initial investors, 2nd gen family office, owns a lot. His co-gp's and LPs are fairly sophisticated. I know he was focused on Sunny-side Queens for a while and with a decent investment thesis.

I'm not sure the position would give you the modeling and execution that you would like, but maybe.  I know there would be some to a medium amount of cold calling involved.

Let me know if any more questions.

 

Thanks for the background and makes sense. I saw it was a certain salary but then in bullets it says commission which is not the best look. I saw they were active, but seems they were always buying when no one else was which isn't a good sign and at high prices although I don't know that space well. I'm looking for a more acquisitions/asset management role that focuses on larger deals ideally and can build off my current experience. I'm graduating from a Masters program in the city and have a few years experience so I am hoping/assuming I can land a more analytical role in the coming months.

 

I know these guys through the industry.  They have built up a sizable portfolio of 2a/2b tax class protected assets as well as standard mf buildings.  David, who heads up their development, is one of the best in the business and Alex, who heads up acquisitions, might know every active deal in NYC (no exaggeration).  This is not a large company like Related, it's a young NYC operator who is quickly scaling their business.  I would definitely recommend for someone looking for an entrepreneurial environment and to get good exposure to true NYC RE.  They are also one of the few active shops right now because they operate in the small unit count space.  The majority of companies are on the sidelines which is something that should be considered when looking at new opportunities.  Happy to answer any questions.

 

Voluptatibus dolorem ipsam et quia veniam aperiam. Corrupti consectetur hic veritatis eligendi. Exercitationem in odit id occaecati perspiciatis suscipit.

Dignissimos quis quia autem est. Nulla voluptas maiores dolorem animi asperiores. A quis quo consequuntur voluptates voluptas enim ducimus. Labore quidem accusantium ea qui. Qui magni aut repudiandae qui tempora totam.

Ullam inventore id rem. Molestiae nulla debitis iure nemo nihil. Perspiciatis voluptas non quasi.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 11 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 06 97.7%
  • Lincoln International 04 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (81) $263
  • 3rd+ Year Analyst (12) $184
  • Intern/Summer Associate (32) $172
  • 2nd Year Analyst (60) $169
  • 1st Year Analyst (193) $159
  • Intern/Summer Analyst (142) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
kanon's picture
kanon
98.9
7
CompBanker's picture
CompBanker
98.9
8
dosk17's picture
dosk17
98.9
9
Jamoldo's picture
Jamoldo
98.8
10
Linda Abraham's picture
Linda Abraham
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”