Newmark Knight Frank - Reputation

Wanted to get a current grasp of NKF's reputation these days considering they 100% spun off from BGC Partners and went public late 2018.

How are they regarded in terms of the full service brokerages (CBRE/JLL/CW)? Could you still consider them one of the top 5 CRE firms?

More specifically, looking for any insight into their NYC Capital Markets teams and their reputation in that realm. The team I am looking into is very active nationally and globally, and has quite the deal sheet, so would you think getting analyst experience here would be worth it? I feel like you can't go wrong anywhere where you are getting transactions under your belt.

Appreciate anything and everything.

RL

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Comments (22)

Mar 15, 2019 - 11:29am

National firm that is trying to gain a bigger share through acquisitions of top teams across the country. Like any brokerage shop it's team dependant. What team? Is this with Dustin Stolly's team? They crush it and would provide for great deal flow. However, have heard some stories about a harsh work environment. Albeit, through third party so can't confirm. Dustin seems to be a pretty cool guy.

Mar 15, 2019 - 2:28pm

The team I am referring to works with Dustin's team, as well as the capital markets teams in all US top metros. I know the team I'm talking about works with Kevin Shannon's team a lot on West Coast deals. The team also finds international investors for US real estate. I honestly think this would be a good opportunity, I just want to know if I am blinded by that.

Mar 15, 2019 - 3:47pm

If you're working with or tangentially connected to Shannon's team, you're going to be working a ton of hours. I don't know how it has been working recently with bonuses at NKF, but from what I've heard from several people in a couple of different markets they don't pay that well for the time/hours you put in. But obviously deal flow will be stellar. So you will be set up for your next gig but will not be making serious dough in the short term, if my sources are correct.

"Who am I? I'm the guy that does his job. You must be the other guy."
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Mar 15, 2019 - 1:08pm

It is very, very, very market dependent. Newmark might have a killer team in one market and a shit team in another.

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Mar 15, 2019 - 2:25pm

I feel like that could be the case at any firm. But this would be at their HQ in NYC, so I would have to imagine there are some solid teams over there.

Edit: this team works with all NKF cap markets teams in tier-1 US metros and finds international capital for US real estate as well

Mar 15, 2019 - 2:30pm

One thing I disliked about Newmark when I was there: they focus solely on developing their older, top talent and have no interest in developing their younger talent. All they do is poach top brokers from other firms with hefty bonuses.

I have also been told that Dustin and Jordan are the only ones really killing it on the debt and equity. The money does not really trickle down the ladder.

Mar 15, 2019 - 2:38pm

Would that be the reason as to why you left? Were you also an analyst on a d&e team? The position I am interested in is more than your standard cap markets analyst from the looks of it.

From the job post: "works with the major capital markets teams across the US in marketing major investment sales across all sectors, raising JV equity, and the sale of loan positions. The team also seeks to independently originate JV equity raising opportunities from domestic landlords and investment sales from overseas landlords, across all US markets."

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Mar 15, 2019 - 3:41pm

Reputation has gotten strong as of late due to poaching.

The NYC team is killer and sounds like you'll be working more than just NYC market.

I will say that NKF has not quite figured out the cohesiveness that really drives value in brokerage. They're getting there but don't quite have the infrastructure that HFF or EDS has.

gig sounds promising. congrats.

Mar 17, 2019 - 1:52pm

I believe they are strongest in New York. Definitely team dependent, but I wouldn't consider them anywhere near the Big 3 on a US/Global scale. They're more inline with Colliers and are a decent number 4/5.

They've been poaching a lot of top talent (for a lot of money) recently, but I don't see them catching up to C&W (#3 in headcount and revenue) anytime soon.

Mar 18, 2019 - 12:03am

Just curious, whats the typical brokerage split for investment sales? For example, if your doing MF sales, is it 50-50? I know a guy doing it and hes had crazy deal flow with some high priced assets, but didn't know how much he gets to keep, plus im sure he has to split amongst his team.

Array

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Mar 18, 2019 - 3:04pm

Splits are firm and sometimes team specific.

There are a ton of factors to consider here, but generally speaking the house takes between 30% - 55%.

If I remember correctly, HFF is closer to the 55% and C&W is closer to the 30% (albeit a sliding scale so it depends on the team).

NKF splits are somewhere in the middle but issues preferred stock in lieu of cash for ~10% going to the broker. At least this was the case like 2 years ago.

Mar 21, 2019 - 9:45am

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