Ackman-Ziff Expands Investment Sales Team With Hiring of Eastern Consolidated Duo
Ackman-Ziff has boosted its investment sales group with the hiring of Eastern Consolidated’s Andrew Sasson and Chad Sinsheimer, Commercial Observer has learned. The two professionals are joining the company in the next couple of weeks as managing directors along with three of their previous team members.
“We are very excited to add Andrew and Chad to our existing team,” Simon Ziff, the president of Ackman-Ziff, told CO. “Working alongside our debt and equity team will provide Chad and Andrew the ability to offer their clients complete and thoughtful capital markets solutions.”
Sasson and Sinsheimer spent over five years at Eastern Consolidated, where they closed over $500 million in transactions in Manhattan, Queens and Brooklyn, including the $90 million sale of 41 Flatbush Avenue and the $51 million sale of 334 West 36th Street. Most recently, the pair were managing directors at the firm.
As first reported by CO, Eastern Consolidated announced it was closing its doors in July after 37 years of business. Since then, some of its brokers have been snapped up by other firms. James Famularo was hired to helm Meridian Capital Group’s retail division, while Adelaide Polsinelli jumped to Compass, where she is leading its investment sales division.
For Sasson and Sinsheimer, their decision was clear.
“Chad and I were thrust into a unique position where we had to see in a very short period of time what numerous platforms were able to provide,” Sasson said. “We wanted to join a platform that has a long track record in providing clients with a full spectrum of capital markets solutions with a strong emphasis on recapitalizations, joint ventures and partial and full asset sales. We were particularly attracted to the platform when we learned how much of the investments sales team’s activity was involved with debt and equity when advising their clients.”
Sinsheimer added: “It is a very exciting proposition where we can join a firm that has been in business for 90 years and has tremendous capital markets expertise and a long and prestigious roster of clients. We believe Ackman-Ziff provides us with more tools to better serve our clients capital markets needs.”
The other three team-members who will join Sasson and Sinsheimer could not be named at this point.
As Ziff told CO in an interview last year, Ackman-Ziff is in “heavy people-growth mode” and has been actively, yet selectively, growing the firm’s three businesses: debt, joint venture equity and investment sales.