Defying the market, launching commercial divisions.
Several residential firms in the city have recently launched
commercial real estate divisions. Given how poorly commercial leasing
and sales have done in the city this year, some people might think
they're on a fool's errand. On this week's Webcast, The
Real Deal's Jen Benepe talks to principals at Bond New York and at
Mark David Real Estate, which are both launching commercial divisions,
and to an existing commercial competitor, Massey Knakal Realty Services,
about how much of an uphill battle they're facing and what their
chances of success are like. Noah Freedman, co-principal at Bond, said:
"We embrace the naysayers. It makes the success all the
sweeter." To see the full Webcast click on the video.