NEW YORK CITY-A chief official with global commercial real estate brokerage firm NAI Global has confirmed that the company is reducing the number of brokers at its New York City office.
NAI Global has slashed the number of brokers at its Manhattan office from 12 to four, according to the Wall Street Journal. The firm is owned by C-III Capital Partners LP, led by Andrew Farkas, which acquired the brokerage back in 2012.
Charles Piazza, an executive managing director with the firm's New York office, confirmed that a downsizing had taken place. NAI Global has reportedly hired CBRE Group to sublease its office space at 415 Madison Ave.
A spokesman for C-III said 2013 "is the best performing year NAI has had in five years." He also stressed, "We are not closing and have no intention of closing" the New York office. See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
