Cushman & Wakefield Brokerage Team Quits
- Jan 06, 2011
January 5, 2011
By Barbra Murray, Contributing Editor
Cushman & Wakefield Inc. bids adieu to a team of office brokers that, over more than a decade, has closed a bevy of deals in New York City for the international commercial real estate firm.
Brokers Matthew Astrachan, Alexander Chudnoff, Paul Glickman, Mitchell Konsker and Mitti Liebersohn just parted ways with Cushman & Wakefield, approximately 14 years after having come aboard with former CEO Bruce Mosler from The Galbreath Co. Cushman & Wakefield issued an official statement noting that the team’s departure was prompted by a difference of opinion regarding the firm’s direction. “The departing individuals were looking for a special arrangement and they didn’t get it,” a real estate executive with knowledge of the thinking behind the split told CPE.
Cushman & Wakefield has a multi-pronged plan for its future. “They are moving in a more collaborative direction with more transparent operations and a more consistent compensation model throughout the firm,” he said.
It appears Astrachan, Chudnoff, Glickman, Konsker and Liebersohn have already lined up a new gig. “I’ve been told they are going to Jones Lang LaSalle,” the executive said.
The brokers helped orchestrate a number of sizable transactions during their stay at Cushman & Wakefield. Notable deals include the signing of property service workers union SEIU 32BJ to 245,000 square feet of office space at 620 Avenue of the Americas last year.