Newmark Restructures Management of NJ Offices

WOODBRIDGE, NJ-Newmark has created a new senior management position to direct the operations of the firm’s two offices in the Garden State, here and in Rutherford. And the firm has simultaneously announced that industry vet Joseph J. Caridi has been hired to fill the position, which carries the title of executive director.

“The trigger for this new position was the size and complexity of the market,” says Edward A. Friedman, EVP of brokerage and advisory services for the New York-based firm. The company, of course, will become known as Newmark Knight Frank after the first of the year in the wake of its recently announced alliance with the UK’s Knight Frank. “As a result, there was a need for full-time management from someone not actively pursuing brokerage business.”

“We are committed to the entire New Jersey market,” says Caridi, who will spend time in both offices. “My job is to provide management oversight in both Northern and Central New Jersey, which will free our brokers in those offices from day-to-day operations so they can devote their full attention to their clients.” Before joining Newmark, Caridi was COO of Ivy Realty Services in Montvale. And prior to that, he was the co-director of the New Jersey division of Reckson Associates Realty Corp.