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The ripple effects of the Eastern Consolidated closure continue to be felt, and more former high-level brokers are making their next move.
Andrew Sasson and Chad Sinsheimer will join Ackman-Ziff Real Estate Group, along with three of their former Eastern Consolidated team members, Commercial Observer reports. Sasson and Sinsheimer, who were managing directors at Eastern, will keep their titles for Ackman-Ziff as they help bolster President Simon Ziff's investment sales team.
“We are very excited to add Andrew and Chad to our existing team,” Ziff told CO. “Working alongside our debt and equity team will provide Chad and Andrew the ability to offer their clients complete and thoughtful capital markets solutions.”
Ackman-Ziff is trying to navigate the muddied waters of the midsize brokerage industry, which has experienced upheaval beyond Eastern's collapse. Newmark Group acquired retail brokerage RKF earlier this year, and Massey Knakal co-founder Paul Massey is looking to hire 50 brokers as he starts his own brokerage.
Sasson and Sinsheimer are the latest major Eastern names to land, after Adelaide Polsinelli and a small team joined Compass to launch a commercial brokerage division, James Famularo took a team of brokers to Meridian Capital Group to launch a retail leasing team and Brad Cohen and his investment sales team hitched their wagons to CBRE.
Co-founders Daun Paris and Peter Hauspurg, as well as top brokers Brian Ezratty and Robin Abrams have yet to announce where they will go, but Bisnow sources say many of Eastern's former leaders have tried to market themselves as a package deal.
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