Making the switch from corporate RE to brokerage

Real Estate Weekly, Dec 11, 2002

John Lizzul, Managing Director Newmark & Company Real Estate, Inc.

There aren't many success stories these days in Manhattan's commercial real estate market. As a result of the economic downturn, the tales of upstart dot-coins leasing large blocks of space in Manhattan are nonexistent, while stats about rising vacancies and available sub-lease space are on the rise. Consequently, it is even more rare to hear about-young, upstart real estate brokers making a name for them in today's economy. Nonetheless, there are isolated examples.

One of these is John Lizzul, managing director at Newmark & Company Real Estate, Inc. However, Lizzul is neither young, nor an upstart. Rather he is a former corporate real estate executive, who is now finding success in the competitive world of Manhattan real estate brokerage.

Since the beginning of 2002, Lizzul has completed six major transactions, totaling more than 300,00 SF. These are impressive statistics fox any one in the real estate industry right now, much less someone who is still rather new to the world of real estate brokerage.

The reasons for Lizzul's success are varied, and have as much to do with tenacity and skill as experience. It cannot be denied though, that during an economic period when major corporations are looking for the most effective way to cut costs, they are eager to work with a real estate advisor who has firsthand experience from their end of the transaction.

Before joining Newmark, Lizzul was vice president of corporate real estate at Chase Manhattan Bank. He has also served as director of corporate real estate at PaineWeber, Inc. and previously practiced law with a corporate firm.

These experiences have helped Lizzul complete one of Manhattan's largest transactions so far this year, a 147,000-SF renewal with Technical Career Institute at 320 West 31st St. Lizzul has also arranged new leases for Take Two Interactive (48,000 SF, 622 Broadway); Federal Home Loan Bank of New York (41,000 SF, 101 Park Ave.) and Advance Magazine Publishers, Inc. (43,000 SF, 1180 Avenue of the Americas).

Lizzul says that while the transition from a corporate position to a brokerage position has not always been easy, he's enjoyed the opportunity to have access to a greater number of resources in order to solve real estate problems. "Corporations often just don't have the infrastructure to effectively manages all their real estate needs. Here at Newmark, we have 600 employees that don't do anything else; it's our core business," said Lizzul.

Lizzul's prior experiences as an attorney and corporate real estate executive have proved invaluable in his current position. Lizzul notes that "as an attorney, I can structure deals and make certain the language works.

I work closely with in-house and outside counsel, providing lease comments and assisting in negotiations. The corporate real estate background provides me with an understanding of corporate needs, processes and procedures and this enables me to most effectively meet the needs of my clients."

In the end, it is ability to most effectively provide solutions to his client's real estate issues that explains Lizzul's success. In good markets or bad, the most successful real estate advisors are the ones who can intrinsically understand their client's requirements, and meet them.