Newmark CEO Barry Gosin Stepping Down After Five Decades

Barry Gosin, who grew Newmark from a ragtag brokerage to one of the world’s top CRE service firms, is stepping down after a five-decade run.

Gosin, 75, will step down as CEO at the end of the year, Newmark announced Friday. He will stay on as chairman through at least 2029, and the company’s board of directors is working to identify a successor.

“I have spent nearly my entire career at Newmark, working alongside an exceptional team whose dedication, talent and commitment have made the Company’s success possible,” Gosin said in a statement. “The company is stronger than ever, our strategy is working, and the opportunities ahead are substantial, which is why I believe now is the right time to take a step back from day-to-day operations to focus solely on matters that will make a difference to Newmark, and to support the company through this transition.”

The burning question now is who will replace Gosin as head of Newmark, the fourth-largest commercial real estate services firm in the world.

Though publicly traded, the company has a significant portion of its shares owned by insiders, including Howard Lutnick’s sons and his company, Cantor Fitzgerald. Kyle Lutnick, one of Howard’s two 20-something sons, sits on the board of directors.

That makes it more than likely that whoever follows Gosin will be close to Lutnick’s circle.

Lou Alvarado, the company’s chief operating officer, is one name sources floated as a potential successor, according to sources. Jack Fuchs, president of global asset services, is another. 

Whoever takes over will helm a juggernaut in office leasing and capital markets.

Newmark counts CBRE and JLL among its competitors, with a particularly strong presence in gateway markets like New York and San Francisco.

West Side guy

Gosin started out as a scrappy young broker on Manhattan’s West Side in the 1970s, when the area was considered a second-rate dreg, a world way from Grand Central’s prime Park Avenue business corridor.

But he and his partner, Jeff Gural, scraped together deals in emerging neighborhoods and made Newmark a force to be reckoned with.

He teamed up with Lutnick’s Cantor Fitzgerald in 2011, and they took the company public in late 2017.

Newmark struggled as a public company as investors, hungry for steady growth, failed to see eye-to-eye with Gosin’s vision for building a world-class brokerage.

He often spent big to invest in the company, even as the stock price lagged. Newmark’s stock was trading around $15 a share Friday, roughly the same price as the $14 when it IPOd eight years ago.

Gosin signed a $22.5 million contract in 2024, which expires at the end of this year.