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Robert Futterman is back at Newmark after being fired in 2019.
Futterman, a longtime retail broker and former Newmark chairman, will serve as an adviser to the company's retail brokerage group, Commercial Observer first reported and a Newmark spokesperson confirmed to Bisnow.
“Futterman will leverage his extensive knowledge of the retail sector and expertise in industry trends to provide real estate advisory and consulting services to our retail professionals,” the spokesperson said via email.
In 2018, Newmark acquired Futterman’s New York-based retail brokerage, RKF, which he founded in 1998 and grew to eight offices across North America. Futterman began serving as chairman of the newly formed retail leasing division, Newmark RKF, bringing 70 brokers along with him.
But less than a year later, Newmark terminated Futterman “for cause,” a BGC Partners spokesperson said at the time.
Futterman was arrested in Texas the month prior for possession of marijuana and a controlled substance, and the New York Post reported that after the incident, he went to Los Angeles and interrupted a presentation from Newmark CEO Barry Gosin.
Futterman said he was falsely accused of using illegal drugs and alcohol and said his arrest was for medical cannabis.
Newmark Vice Chairman Ariel Schuster posted on LinkedIn Wednesday welcoming Futterman back to the brokerage.
“We're all excited to share the news that Robert Futterman is back at Newmark!,” he wrote. “In 2001, I was a 22 year old kid with 6 months of experience (and zero completed deals), Robert took a chance on me. Over the 18 years at RKF, Robert was a mentor and partner, and without him, I wouldn't be where I am today. All of us at Retail Group at Newmark (and many others in the industry) owe a tremendous amount to Robert and we're all excited to have him doing what he does best.”
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