Starting a residential brokerage in New York is a world of pain Here’s what you need to know, according to those who’ve done it
From left: Karla Saladino, Jordan Sachs, Zach Ehrlich and Andrew Barrocas
When Jordan Sachs and Todd Jacobs set up shop in 2010, they had a hot, airless 350-square-foot Office On 12th Street and Broadway, with rented furniture. “We were so proud of it. I remember bringing my family in and I was like ‘look at this!’” said Sachs. “We’re super embarrassed about it now. It’s like, holy shit, that was our pitch?”
Sachs, who worked in e-commerce and ad sales, and Jacobs, a former broker at Marcus Millichap , decided to launch Bold New York while the city was still reeling from the recession. The condominium and co-op markets were dead, so they dove into the unglamorous world of walk-up rentals, which gave them immediate cash flow. Two years later, they expanded into resales, and in February, they scored their first new development: Largo s 13-unit project at 533 Leonard Street in Greenpoint.
Zach Ehrlich [/vision_pullquote]
“We didn t try to move quicker than we were able,” said Sachs who, along with Jacobs, coughed up $100,000 to get the business started. “We got whatever we had in our bank accounts and wrote checks.”
When it comes to new residential brokerages in New York, four-year-old Compass grabs all the headlines. But every month, there are plenty of other hopefuls that set up shop, hoping to capture a piece of the city s cutthroat market. They promise a fresh approach to the business, greater dedication to clients, and a 上海贵族宝贝交流区