Newmark Nabs Jonathan Firestone From Eastdil – Commercial Observer

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Newmark (NMRK) last week announced a major new hiring for its global debt and structured finance division.

Jonathan Firestone, a 23-year veteran of Eastdil Secured, will help run Newmark’s debt platform as co-president at the side of current Co-President Jordan Roeschlaub. Firestone had previously served as managing director at Eastdil, and Newmark said he has manifested $175 billion of financing and loan sale deals over his career to date, focusing primarily on studio, hotel, cold storage, life sciences and office transactions.

“The lines between debt and equity are becoming increasingly blurred as the market continues to face headwinds, and asset sales are often being driven by lenders with loan sales, rescue equity and workout transactions becoming a larger portion of the market,” Newmark’s Co-Head of U.S. Capital Markets Doug Harmon said in a statement. “Having worked with Firestone before, I am well acquainted with his institutional prowess; he will integrate seamlessly with our New York-based team and senior capital markets executives across the U.S. to play a crucial role in expanding our client service across equity, debt and loan sales, facilitating the best advice and execution in all major markets, across all property types and transaction forms.”

Firestone was a key player in the capitalization of Burbank Media Studios in Southern California last year, launching a major studio entertainment campus project sponsored by Worthe Real Estate. Along with James Muhlfeld, Firestone was selected as part of Commercial Observer’s Power L.A. list in 2023.

Firestone’s hiring comes hot on the heels of other major recruitment by Newmark in 2023, which has extended into this year as well. The company late last month swiped Steven Rotter and Howard Hersch from JLL (JLL), where they both served as vice chairmen, the Commercial Observer reported at the time. Earlier in January, Newmark also hired rising star Robert Ferman, formerly of Marcus & Milichap, to help lead its Brooklyn investment sales efforts.