NEW YORK CITY-A chief official with global commercial realestate brokerage firm NAI Global has confirmedthat the company is reducing the number of brokers at its New YorkCity office.

|

NAI Global has slashed the number of brokers at its Manhattanoffice from 12 to four, according to the Wall Street Journal. Thefirm is owned by C-III Capital Partners LP, led byAndrew Farkas, which acquired the brokerage backin 2012.

|

Charles Piazza, an executive managing directorwith the firm's New York office, confirmed that a downsizing hadtaken place. NAI Global has reportedly hired CBRE Group to subleaseits office space at 415 Madison Ave.

|

A spokesman for C-III said 2013 "is the best performing year NAIhas had in five years." He also stressed, "We are not closing andhave no intention of closing" the New York office. See story in theWall Street Journal.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.