Carlucci is in discussions with Katz about a loan the broker is trying to arrange on behalf of a client. "Because it's a service industry, he's going to get some people who will follow him to his new company," he said.
Real Estate Jupiter Images Market’s woes create ‘opportune few brokers to work with us and to grow into a mid-level size firm.” By striking out on their own, Deerwood’s time’ for brokers’ new company cofounders could make more money for them- selves, said Ira Bergstein, a principal of Pal- isades Financial LLC, a Fort Lee-based com- Deerwood co-founders aim to take advantage of tight conditions mercial real estate lender and advisory firm. “They’re taking their clients, they’re taking BY EVELYN LEE Most borrowers have had limited access to their expertise and they’re trying to do it for TWO VETERANS of the commercial mortgage the debt market, which will create demand for themselves — and not for 50 cents of a dollar; brokerage industry have opened their own New brokers who have relationships and expertise in they want 100 cents of a dollar,” he said. Jersey firm, looking to take advantage of opportu- the financial markets, Katz said. But starting a new firm in a shaky econo- nities in a tight real estate lending environment. “We have relationships with lenders who my is a lot to swallow, Bergstein said. “It’s risky, David Rosenberg and Abe Katz, who had are actively financing real estate in this environ- because you may not do any business for quite both been top brokers at New York-based Merid- ment,” Katz said, including New Jersey-based ian Capital Group — one of the nations’ largest savings banks, large commercial banks, life commercial mortgage bro- insurance companies and opportunistic funds. Most borrowers have had kerage firms — left the “In this market, there is no easy deal,” Katz limited access to the debt company last month to said. “All loans require some sort of structure start Deerwood Real Estate and thinking out of the box.” market, which will create Capital, in Fort Lee. Deerwood will focus on arranging all types David Rosenberg and Abe Katz, co-founders of “Given the state of the of debt and equity financing, as well as mezza- demand for brokers. Deerwood, believe they have a bright future, since current commercial real nine, construction and bridge loans, he said. both commercial brokers already have established estate market, we thought The firm, which is actively looking at a number some time,” he said, noting that a number of relationships throughout the financial markets. this was an opportune Abe Katz of transactions, will handle deals that are at firms have not closed a single deal in the past time to launch our business,” said Katz, 35, who least $500,000 for private and institution
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