Real Estate Dealings in the Big Apple

Business is all about the right decisions and capitalizing on opportunities as they present themselves. The New York real estate market is quite vibrant. In fact, it is one of the most competitive in the world, making it ripe for various types of property investments. Andrew Farkas is a man who understands this, and that is one reason he is very dominant in the real estate sector. The billionaire, through NAI Global, struck a deal with EVO Real Estate Group of New York. NAI Global is a services network that specializes in real estate across different countries. Since it was purchased by Farkas’ C-III Capital Partners, the network has accumulated offices in various cities globally.

Working Together

When EVO agreed to work with NAI Global, it gave the network a much-needed boost in the New York market. Although NAI Global has been very successful, it was missing out on NY business due to lack of a network office in the city. Now, the deal designates the EVO office to be the NY network office for NAI Global. The C-III Capital subsidiary chose to go with EVO because the brokerage firm had established a significant presence in the city as it had been based there since its inception. Before it was EVO, the firm was Winoker Realty Co., which had to be sold when the owner perished in an unfortunate accident.

The brokerage has handled lucrative deals in New York and is responsible for over 3.5 sq. ft. of commercial space. Combine that with the contacts that EVO has acquired over the years and it makes an ideal choice. What NAI Global brings to the deal is a vast network of 165 firms spanning across 204 cities. The deal between EVO and NAI Global comes with mutually assured growth as long as the two maintain the upward trends. EVO will be responsible for bringing in New York clients and use NAI Global’s exposure to provide property investments in other cities in the world.

Different Dealings

NAI Global prefers a network structure that most larger firms don’t use for their business deals nowadays. What NAI Global does is get well-established offices in different cities and come to an agreement as opposed to having the network own its brokerage firms. It means that the member brokerage firms remain independently owned. For this reason, firms are required to drum up business, meaning that services have to be superior to maintain the clientele that first attracted the attention of the network.