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Dealings in NYC Real Estate – NAI Global in the City

Posted on Sep 7, 2016

Establishing a strong presence in a particular region when conducting real estate business is not always a facile endeavor, which is why most investors seek to make partnerships with the right people. The billionaire Andrew Farkas has been doing this through his real estate services network, NAI Global, which has so far accumulated more than 165 members that are spread over 204 cities. NAI Global has developed its network by structuring it differently than most investors. Current trends indicate that owners of real estate networks prefer to own the office in different cities, but NAI just partners up with independent brokerage firms. With such deals, a brokerage company has the autonomy to conduct business as usual and still enjoy the pros of being part of a network.

Exposure in NY

NAI Global made one such deal with New York-based EVO Real Estate Group. The Andrew Farkas real estate network has gained popularity across the globe, but one place that it did not have visibility is New York. In fact, there were speculations that the network would pull out of the NY real estate but instead replaced the NY member office with a wholly owned company that is EVO REG. This strategic move got NAI Global a step closer to cementing its existence in the Big Apple. New York boasts one of the biggest property markets in the world, which is why any global real estate company worth its salt establishes its presence there.

An Exciting Deal

EVO is native of the city with a ready client base, and the firm is responsible for the management of commercial property spanning over 3.5 million square feet. The brokerage firm is owned by a father-daughter duo, Ira Fishman and Dana Moskowitz who bought it when the previous owner passed away and rebranded it from Winoker Realty to EVO. Ira Fishman, speaking on the closing of the deal, expressed his excitement at the new prospect because he has never been part of a network. Jay Olshonsky, the President of NAI Global called the move a thrilling one because it will solidify their NY presence.

This deal will allow EVO to access the incredibly vast list of contacts that NAI Global has across the world while providing its own in New York City. EVO will now be able to make out-of-state property deals as it becomes the network’s office in New York. The commission split between NAI and EVO will depend on the effort put by the two in closing deals.