|Cushman & Wakefield has recruited "first-class deal closer" Patrick J. Dugan to be its Director of Brokerage in New York City.|
Cushman & Wakefield named Patrick J. Dugan as its new director of brokerage in New York City, luring him from its rival, CBRE, where he was named the firm's 'Rookie of the Year' in 2005.
Dugan will help manage approximately 180 brokers in the company’s Midtown and Downtown offices, while having direct management responsibility over approximately 50 C&W brokers.
"Patrick Dugan has developed a well-deserved reputation in the brokerage world as a first-class deal closer whose top priority is service to clients," said the president of Cushman & Wakefield's NY Tri-State Region, Ron Lo Russo, in a statement announcing the new hire. "We’re all excited about his arrival, and we have high expectations about the valuable role he’ll be playing as part of the Cushman & Wakefield management team."
In addition to handling strategic planning, business generation, recruitment and retention, broker training and pipeline management, Dugan will work closely with the firm's IT unit to have access to the information systems needed to support the firm's management and brokers.
While at CBRE, Dugan focused on the Lower Manhattan, Midtown South and Brooklyn submarkets, where he represented nearly two million square feet of office space. He was named the firm's Rookie of the Year in 2005, an award given to the most promising young broker with less than three years of industry experience.
His brokerage experience includes representing such prominent clients as Vornado Realty Trust, the Roman Catholic Diocese of Brooklyn, Madison Capital, The Bank of Japan, Beyer Blinder Belle, IBM, Nationwide Insurance and the Statue of Liberty/Ellis Island Conservancy.
Dugan is a member of the Real Estate Board of New York and the St. Francis College Alumni Board of Directors.
The move follows other key departures from the New York office of the world's largest real estate services and investment firm. Last November, Jones Lang LaSalle hired Philip Palmer, formerly managing director of CBRE’s Midtown brokerage division, to oversee its brokerage operations in New York City.
That same month, Boston Properties hired away CBRE's Chairman of the New York Tri-State region, John Powers to succeed the retiring Robert E. Selsam as senior vice president and regional manager of the REIT's New York office. That appointment took effect last month.