It's official! Jim Kuhn named Newmark prez - James D. Kuhn appointed president and COO of Newmark and Company Real Estate Inc

Real Estate Weekly, Nov 18, 1992 by Lois Weiss

Aaron Gural, chairman of Newmark & Company Real Estate, Inc., confirmed last week that James D. Kuhn has been appointed president and chief operating officer of Newmark & Company Real Estate, Inc.

"We're very happy," he said. "Jimmy's a helluva guy and we needed somebody like that. Our company is growing by leaps and bounds and we need someone to put it together with experience and knowledge. He fits all of those descriptions. We were very fortunate to get him."

The elder Gural said Kuhn met with him, son Jeffrey R. Gural and Barry Gosin, president of Newmark Real Estate Services. "We all agreed he would be a great asset to our business," he said.

Jeffrey R. Gural, president of Newmark & Company Real Estate, Inc., said "I think its great. We want to build the future of the business with institutional clients. We think that Jimmy is well equipped to deal with the needs of institutions and we can take advantage of our already established leading credentials."

Jeffrey Gural said he will concentrate on the buildings that they own and manage as well as the buildings they run for their non-institutional clients. "And run the company with some help from Jimmy," he added.

Kuhn will also hold the title of president of a new division, Newmark Institutional Management Corp. destined to service institutional clients.

"They needed somebody to run the firm, unite the West Side and the East Side and give them the institutional image," Kuhn explained.

"What I bring to the table is someone who's had over 20 years of acquisition, leasing, and hands on experience in turning around properties," he said. "That expertise is in demand by institutions."

Eight months ago Kuhn said, Newmark hired Carl Borsari, P.E. senior vice president of operations who had previously been employed by Silverstein Properties. "I would not have come to Newmark if Carl had not been there," Kuhn said.

He is also bringing over a former Mendik Company comptroller in an effort to provide institutions with better service.

Kuhn began his career with Metropolitan Life's real estate division and was a partner with Bernard Mendik for 13 years. At the Mendik Company he was responsible for the acquisition and redevelopment of 6,000 apartments and over 12-million square-feet of space.

For the past two years, under the moniker J.D. Kuhn Properties Inc., he has been advising institutions as a workout consultant to help them manage newly foreclosed and acquired assets.

Most recently, Kuhn acted as a consultant to Citibank on the pre-packaged bankruptcy sale of 1540 Broadway to Bertlesmann, A.G., and to Saks and Swiss Bank in the valuation of the Swiss Tower Building.

Kuhn is expected to officially begin work with Newmark after the closing of the Bertelsmann purchase of 1540 Broadway in December.

Founded in 1929 as Harris & Newmark, Aaron Gural said he purchased the company where he worked in 1949. "We've grown and been very successful and we now have three generations of Gurals," he said, referring to grandson and broker, Eric Gural.

Newmark currently manages over 25-million square-feet in New York City including some of their own properties. Newmark Real Estate Services, headed by Gosin, employs over 100 brokers.