ERG increases year-over-year revenues by 450%

While most of the city was finishing up holiday shopping this past December, ERG Property Advisors was busy closing deals that made 2011 the firm's best year ever. The firm reports that its revenues for 2011 increased 450% over its 2010 volume, and they are ready to capitalize on this year's opportunities. December capped off this history-making year when ERG CEO James Kinsey and managing partner Matthew Sparks closed the firm's biggest deal to date: the $36 million sale of the Jarmulowsky Bank Building in downtown Manhattan. Kinsey, who represented the buyer, and Sparks, who represented the seller, worked together with their clients to complete a two-month closing. To start off the new year, managing partner Rich Guarino and director of investment sales Andrew Greenberg worked together to close the $25 million sale of 500 Chestnut Ridge Rd., a commercial property located in Woodcliff Lake, N.J. The 70,000 s/f freestanding retail facility was sold with a 25-year lease in place. As the teamwork in these sales indicates, ERG has a team and management structure in place to catalyze even more success over the coming year. The firm's core philosophy is that an innovative team structure that encourages collaboration among brokers ultimately serves both brokers and clients. Kinsey said, "We have hired tenacious, ambitious people to become ERG brokers, and we support them with not only a highly competitive commission structure, but also ongoing mentoring and training and the opportunity to compete for leadership of prime N.Y.C. submarkets." As part of its long-term strategy, ERG has more than doubled its brokerage team over the past year and now has 25 brokers, many of whom are teamed up with one of the firm's senior partners as a part of the mentoring process. The firm's partners - every one a real estate industry veteran with an impressive track record - each take the lead on one of New York City's major geographic markets. Chairman James Guarino covers Queens, Kinsey handles Manhattan, managing partner Richard Guarino leads in The Bronx, and Sparks oversees Upper Manhattan and Long Island City. One of the rising stars on ERG's brokerage team is Andrew Greenberg, a specialist in Triple Net investment properties who joined the firm as Director of Investment Sales in 2010. Over the past year Greenberg closed 11 deals, including a number of NNN properties across six states. His NNN clients include full-time real estate investors with mature portfolios who are looking for an exit strategy as well as part-time real estate investors who are looking for stable income with zero management responsibilities. While ERG's core activities are investment sales, retail leasing, and strategic consulting - which includes supporting banks, appraisers, attorneys, and accountants in their respective roles - the firm seeks to offer even more to clients through strategic partnerships. ERG's alliances with select companies enable the firm to offer clients access to financing and financial market information, residential rental and sales brokerage services, and property management services. Kinsey expects a very active market in 2012. The firm expects to hire 10 additional agents to improve its market coverage, including expansion into Brooklyn. ERG Property Advisors is a full-service commercial brokerage company based in New York City. Its core activities are investment sales, retail leasing, and strategic consulting. While focused on the broader New York City area as a company, ERG also offers specific market knowledge at the submarket level. Beyond core New York City properties, ERG has access to a vast network of NNN properties throughout the United States. In addition to assisting property owners and prospective buyers, ERG provides banks, appraisers, attorneys, and accountants with information and skill sets that support them in their respective roles. Visit www.ergpa.com for recent deals and press coverage.