Lee & Associates NYC has hired Joseph Cogan—formerly of Town Commercial—to spearhead its new investment sales division, alongside Lee NYC veteran Edmond Pechaty.

The new division, which currently consists solely of co-heads Joseph and Edmond, will focus on off-market deals for multifamily, retail and office properties.

Joseph tells Bisnow the investment sales division will have plenty of synergy with Lee NYC’s brokerage arm and its other activities.

“It’s a natural addition to a full-service brokerage model,” he says.

Joseph was hired about two months ago, but the move was only announced recently. Since then, he and Edmond have begun building a foundation of data and contacts, working “under the radar” by speaking to principals and combing over reports to identify possible prospects, Joseph says.

He says he expects the new division to expand to roughly six or eight employees within the next year or so, but that he’s more focused on hiring the right people than building out rapidly.

“I’ll be looking to hire people that want to—and will be—perceived as honest brokers within the New York real estate community,” Joseph says. “We want to do it the right way.”

Prior to his new role at Lee NYC, Joseph was the founding agent at Town Commercial, a division of Town Residential, where he brokered investment sales. Before that he worked a variety of jobs in the financial sector, at shops like Bear Sterns, Collins Stewart and others.

Lee & Associates NYC is a division of Lee & Associates, the largest broker-owned firm in the country.