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Mark Jaccom Steps Down As Head Of Cresa New York

Cresa CEO Jim Underhill

Mark Jaccom is out as the head of Cresa’s New York office.

Jaccom, whose title at the brokerage had been president and managing principal of Cresa New York since 2012, will stay on with the title of vice chair and focus only on brokerage rather than leading the New York office, The Real Deal reports.

Cresa has struggled to gain a foothold in the New York market, with few big Manhattan office deals to boast of in recent years aside from a 38k SF lease for Year Up at 85 Broad St, which closed last year. 

The brokerage is in the process of hiring new leadership for its New York office and CEO Jim Underhill (above) tells The Real Deal it’s also looking to buy some smaller brokerage outfits in the area and hire more brokers.

The firm is in the process of what it’s calling a “roll-up,” which would consolidate the ownership of its 70 independently owned offices and bring them under the umbrella of one entity based in Washington, DC, to be called Cresa Global. [TRD]