Commercial Observer | October 4, 2017
Barak Jacobov, 28
Senior Broker, Investment Sales, GFI Realty Services
Barak Jacobov got his start at GFI Realty Services through his brother, who worked as a broker at the firm for around seven years before leaving to pursue his own real estate investments. Unlike most people on this list, Jacobov didn’t go to college; but like all of the real estate players included here, he has impressively risen within the ranks at his firm in a relatively short time and is now one of GFI’s most active brokers.
The Rockland County, N.Y., native joined the firm in the fall of 2009, when the New York City investment sales market was stuck in the Great Recession-era doldrums. “Granted, times were tough and there weren’t a lot of transactions being done,” he recalled. “But it was good in terms of learning [the business]. Once the market started picking up, it just started happening.”
After taking time to learn the ropes, Jacobov closed his first deal in 2012—a mixed-use multifamily building in Hell’s Kitchen that traded for around $10 million. He followed that up with what remains the largest deal of his career in terms of dollar amount: Silverstone Property Group and RWN Real Estate Partners’ nearly $72 million acquisition of a seven-building package in Kips Bay from Icon Parking executives Darryl Mallah and Martin Major (he represented the sellers).
Today, Manhattan multifamily properties remain Jacobov’s bread and butter. Deals that he closed this year include former Extell Development Company executive Dov Hertz’s sale of three Tribeca properties to Benchmark Real Estate Group for almost $60 million (GFI represented both sides) and Olshan Properties and Millhouse Properties’ acquisition of two Washington Heights rental buildings from a family for more than $40 million (GFI represented both sides).
“Right now I plan on staying put [as an investment sales broker],” Jacobov said when asked where he sees his career going. “It’s a field that I enjoy. The market has slowed down, and prices are coming down a little bit, but at the same time, there are still properties trading at solid numbers.”—R.M.
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