Market Overview

Lee NYC Launches New Six-Person Investment Sales Division


Lee NYC Launches New Six-Person Investment Sales Division

Vickram Jambu, Chris Varjan and Paul Popkin to lead team focused on mixed-use properties and land

PR Newswire

NEW YORK, August 1, 2018 /PRNewswire-PRWeb/ -- Lee & Associates NYC LLC ("Lee NYC") is proud to announce the recent additions of Vickram Jambu, Chris Varjan and Paul Popkin as Senior Managing Directors within the firm's newly formed investment sales division. Vickram and Chris were former Managing Directors at Venture Capital Properties while Paul comes to Lee NYC from The Popkin Group, which he founded. They are joined by a team which includes George Steffani, Ben Sutton and Jonathan Braun. Lee NYC's investment sales division will be working in all asset classes across Manhattan, Brooklyn and Queens.

In 2016, Vickram and Chris represented the seller, Wheelock Street Capital, in the $22 million sale of Williamsburg's McCarren Hotel. Most recently, the team represented a private buyer in the sale of a 75,000-square-foot development site on the Upper East Side for $47 million, translating to $620 per buildable square foot.

They were also involved in the sale of a retail package at 13 First Avenue, at the corner of First Avenue and First Street, and 90 Franklin Street, at the corner of Franklin Street and Church Street, for $20.3 million. The seller was Premier Equities and Vickram and Chris represented the buyer, a private family office.

Most recently, Paul represented the seller, CM Rock Corp., and an unnamed buyer in the sale of 424 Broadway, a 4,200-square-foot retail condominium that sold for $11 million. He also recently closed the sale of 659 Broadway, a ground lease for a retail co-op. Paul has been in the real estate business for twenty years negotiating leases as well as asset sales. He has specialized in downtown Manhattan neighborhoods, particularly Soho, in the past.

One of Paul's notable transactions includes a deal at 529 Broadway in which he represented Aurora Capital Associates' interest in the $150 million sale of the building. He again represented Aurora Capital Associates' interest in two other transactions, in which they were the master leaseholder, at 495 Broadway and 483 Broadway. Paul negotiated 49-year master leases for each of these properties. Some of Paul's other recent leases include Sabon at 458 Broadway and Stance at 510 Broadway.

"Vickram, Chris and Paul have enjoyed tremendous accomplishments within their real estate careers thus far and they show no signs of slowing down," points out Joel Herskowitz, COO of Lee NYC.

Prior to joining this team, Vickram closed a deal at 111 East 59th Street that is one of two buildings to have sold in The Plaza District, for a total capitalization of over $200 million. He also sold 61 West 23rd Street to Ermenegildo Zegna and Taconic Investment Partners for $65 million.

The new investment sales team will be synergistic with Lee NYC's existing leasing practice. Vickram, Chris and Paul have strong relationships with property managers that will generate transactions for the firm's leasing brokers. Likewise, the leasing brokers will generate transactions for the sales division.

About Lee & Associates NYC
The New York office of Lee & Associates, and its affiliated company Sierra Real Estate LLC, provides a full array of corporate advisory and commercial real estate services, including office and retail brokerage, sales and investments, and project and property management. Together, the firms have more than 85 real estate professionals in its 600 Madison Avenue headquarters office. Additional information is available at

About Lee & Associates
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit or follow us on Facebook, LinkedIn, Twitter and Link our company blog.


SOURCE Lee and Associates NY

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