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.

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John Jordan

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