“It’s a great time to be a broker”: Newmark’s Jimmy Kuhn on finding success during the pandemic

first_imgWhen The Real Deal interviewed Newmark president Jimmy Kuhn in 2014, he told us that he doesn’t put much value on possessions. Seven years later, little seems to have changed about his attitude towards wealth. For Kuhn, the end goal has always been to empower marginalized communities.“If you’re not giving back,” he said, “why are you working?”In an interview with The Real Deal founder and publisher Amir Korangy, Kuhn reflected on how the past year fits into Newmark’s history as a company. The firm was founded during a turbulent year — 1978 — when people seemed to be giving up on New York City. (Sound familiar?)That experience gave Newmark perspective going into what was one of the toughest years ever for the real estate industry. In the past year, the firm prioritized the life science and logistics sectors, which Kuhn said are “two of the hottest markets since the pandemic.” Newmark had already started placing its bets on those sectors around four years ago.Kuhn also emphasized the importance of reaching out to clients during bad times and maintaining regular meetings regardless of their intentions to do a transaction. That kind of loyalty, Kuhn believes, will “come back in spades in the future.”The past year was also a period of tremendous social and political upheaval, prompting many companies to reckon with their lack of diversity. Real estate was no different, and has historically been an industry with many barriers to entry for minorities. Kuhn reflected on Newmark’s efforts to bring in and mentor more people of color, including providing scholarships for students of color, and scouting for promising candidates at historically black colleges and universities. Kuhn says that brokerages only stand to gain from prioritizing diversity.He also pushed back on the idea that it’s a bad time to be a commercial real estate agent, given the challenges of the pandemic and the ensuing economic downturn.“It’s a great time to be a broker,” Kuhn said. “But you have to work harder than you did before” Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Tags Share via Shortlink coffee talkVideolast_img read more

New York Extends Workforce Policy Regulations Through Mid-April

first_imgMGN ImageALBANY – New York State has extended its nonessential workforce policy regulations through mid-April.Governor Andrew Cuomo says the “New York On Pause” policy will now run through April 15. This is the policy keeping 100% of the nonessential workforce home.The governor made the announcement during Sunday’s COVID-19 update.He says the trajectory of cases continues to climb with 7,195 new positive cases. New York state continues to be the most impacted state in the United States with a total of 59,513 cases.Looking at trend lines, the hospitalization rate was doubling every 2 days but that rate has slowed to every 6 days even though positive case numbers continue to go up.New York State’s plan to combat COVID-19 is one of unity. Governor Cuomo is urging hospitals, both public and private, to work together with a coordination system.With a “rolling apex” and current projections, New York City will reach its apex first, then either Westchester or Long Island, followed by Upstate New York.With the coordination system between healthcare systems, Upstate New York hospitals would be able to lend help when New York City hospitals need it, and vice versa. “This is going to be all hands on deck,” said Governor Cuomo.The New York State Health Department is working to create a faster, easier way to test. The Wadsworth Center has developed a less-intrusive saliva and short nasal swab test that can be administered by healthcare workers that will be available as soon as next week.The USNC Comfort, a military hospital ship, will be arriving in New York City on Monday. The ship offers a 1,000 hospital beds that will be used for a backlog of patients who are not being treated for COVID-19.Governor Cuomo said the state is still working to stockpile personal protection equipment. An overwhelming 76,000 healthcare workers have volunteered their help to hospitals during their time of need.President Trump and the CDC issued a travel advisory on Saturday, March 28 for New York, New Jersey, and Connecticut. Governor Cuomo clarified that this is not a lockdown. This is exactly what the state has been telling everyone: stay at home.Rhode Island repealed an executive order to stop people with New York license plates at the border to put them in mandatory quarantine.While these are trying times, Governor Cuomo took the time to remind people to find the joy in this situation. “We are strong, we have endurance and we have stability,” said Governor Cuomo. “Any obstacle that we come across we will manage that obstacle.” He cited two New York expressions: Excelsior and E Pluribus Unum, meaning always improving together.” Share:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to email this to a friend (Opens in new window)last_img read more