New York Real Estate Journal | December 4, 2018
New York, NY GFI Realty Services hired Matthew Sparks as senior managing director. Sparks will leverage his extensive industry contacts and knowledge of the city multifamily market to expand GFI’s investment sales activity across the city.
Sparks served most recently as a principal at Eastern Consolidated, where he specialized in arranging multifamily investment sales transactions.
Prior to that, he spent three years as a managing partner of ERG Property Advisors, a full-service commercial real estate brokerage he co-founded in 2010. Earlier in his career, Sparks spent more than a decade at GFI Realty, where he developed his expertise in the broad range of multifamily properties, including market-rate, rent-controlled and rent-stabilized properties. He also has extensive experience transacting in the affordable housing space.
Over the course of his career, Sparks has arranged a total of approximately $1.5 billion of transactions. Recent transactions include the $63-million sale of a 13-building multifamily portfolio in Inwood; the $61.5-million sale of a 130-unit multifamily portfolio in Morningside Heights; the $100-million sale of a portfolio of 15 multifamily buildings in South Harlem; and the $52-million sale of an eight-story, 63-unit luxury apartment building with ground-floor retail in Crown Heights.
“Matthew is one of the city’s most well-established middle-market investment sales brokers, with an unparalleled understanding of every type of multifamily product and experience arranging deals in all five boroughs,” said Michael Weiser, president of GFI Realty Services. “As we look to grow our bench of brokers, we’re seeking out seasoned professionals with a strong work ethic and the ability to close even the most complex transactions, and Matthew personifies these traits as well as any broker in the city. His skills and background have made him a trusted advisor to many investors and property owners, and we’re glad to add him to our investment sales brokerage team.”
For GFI, the addition of Sparks bolsters the experience and market knowledge of the firm’s brokerage team. GFI consistently ranks among New York City’s leading investment sales brokerage firms, with particular expertise in the outer boroughs and upper Manhattan. GFI specializes in arranging transactions for multifamily and mixed-use properties and developable land. The firm prides itself on fostering a corporate environment centered around diversity and collaboration, and was recognized by Crain’s New York Business as one of the best places to work in New York City in 2017.
“Over the last few years, GFI has solidified its reputation as one of the most entrepreneurial CRE brokerages in the city, and the firm’s collaborative culture was a big factor in my decision to make this move,” said Sparks. “I’ve worked on deals with many of GFI’s brokers – in both my first stint at the firm and through co-brokering deals in more recent years – and I’ve always been impressed with their professionalism and expertise. GFI sets itself apart by the flexibility it offers it brokers, which enables them to adapt and find solutions to problems their clients face. I’m confident that the unique culture at GFI will allow the firm to continue prospering in the years ahead, and I’m very excited to be a part of this talented team.”