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October 31, 2008

Minsky Out At Corcoran?

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We received word last night that Corcoran and powerbroker Jerry Minsky parted ways yesterday. A visit to Corcoran's website confirms that Minsky's profile has been expunged. While not everyone cared for his style (he was very nice to us the couple of times we spoke), no one can argue with his success: Minsky, who joined Corcoran in 1995 when his firm was acquired, went on to consistently be one of the highest producers for Corcoran in Brooklyn; in 2007, he was named Corcoran's Fort Greene Salesperson of the Year. More specifically, Minsky was the dominant broker for townhouses in Fort Greene and Clinton Hill over the last decade. (From his cached profile on Corcoran: "There is truly no one more knowledgeable of brownstone Brooklyn’s history and neighborhood nuances.") No word on the cause of the split, but we hear that they've changed the locks at Corcoran's Fort Greene office. Update: Here's the Daily News article that a commenter cites as a possible reason for Minsky's departure.




Posted by Brownstoner at 9:53 AM | Comments (33)
Categories: Brokers

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Comments

Earlier this week the NY Daily News had an article on the real estate mess starting to hit the premier neighborhoods. Minsky was quoted saying that the golden age of Park Slope was over. That would have been enough for me to blow him out if it was my agency.

Posted by: Jebby at October 31, 2008 10:15 AM

Could be any number of reasons...joined a competitor, started his own business, fraud, got too greedy, sexual harassment.

Since you've thrown up this gossipy tidbit I'm only interested in the real reason. Then we'll get snarky with the comments!!!

Posted by: daveinbedstuy at October 31, 2008 10:16 AM

corcoran would be better served getting rid of those guys who give their listings names like "BEAUTIFUL DREAM" and "MAGNOLIA."

Posted by: z at October 31, 2008 10:22 AM

Yes, last week we discussed the fall of the "Gilded Age." bailing out at the bottom I say.

Posted by: daveinbedstuy at October 31, 2008 10:22 AM

If you had your Park Slope property listed at Corcoran and you saw his quote in a general news piece on page 18, wouldn't you switch to an agency that at least pretended there was a positive future for Park Slope?

Posted by: Jebby at October 31, 2008 10:22 AM

As Brownstoner points out, Minsky had a huge impact on the revitalization of FG and CH. He deserves serious credit for that. If I were running BHS or Halstead, I'd be signing him up today.

Posted by: lowintheheights at October 31, 2008 10:28 AM

The guy was only speaking the truth. Though I hear bonuses on Wall Street to still be pretty good. But my money is on these people being alot more picky. Prices are coming down in Brooklyn and Manhattan.

Posted by: HOBOKENROCKS at October 31, 2008 10:41 AM

I can't recall how many times I've seen the Minkster working so far beyond the call of duty to fix up properties for his clients. I've seen him mowing backyard lawns, welding damaged front yard wrought iron fences, painting and, once, repairing a damaged roof cornice. He was on an incredibly high ladder at 6 AM, working away. There was a reason why this man was so succesful and he deserves our admiration. It's truly a sad day for the yuppies in Brooklyn.

Posted by: Brooklynnative at October 31, 2008 11:04 AM

Jerry Minsky "hosted" the best open house I've ever been to. He had the entire thing catered with really delicious food and drink. It didn't hurt that the house was very beautiful, as was the kitchen all the food was laid out in. I could have spent hours there. BUT I didn't buy the house!

Posted by: Susan Elkins at October 31, 2008 11:04 AM

With all the good things being written about him than I am sure he will succeed some where else. Probably going to start his own firm.. He was only speaking the truth.

Posted by: HOBOKENROCKS at October 31, 2008 11:07 AM

When I first moved to NYC in 1993, Jerry was my landlord. He was reasonable and decent and so I wish him the best.

Posted by: pmmtenement at October 31, 2008 11:18 AM

Speaking the truth at Corcoran is Career Limiting Move #1.

Posted by: Biff Champion at October 31, 2008 11:20 AM

How about "Market shift"?? Jerry lost the controls to the "Reality Distortion Field"!

People are throwing dead weight off the ships and getting rid of thing that are not working. Corcoran has a ton of overpriced listing that are NOT moving. I always wonder when the MAB implodes how was Corcoran going continue selling the hype? Corcoran and Jerry was all that, HYPE.

The What

Someday this war is gonna end...

Posted by: Return of The What at October 31, 2008 11:25 AM

True that Biff! and love him or hate him, Minsky made a huge difference in really putting Brooklyn (FG and CH) on the map...and he WILL tell you that every chance he gets!
Didn't like doing business with Jerry but he could sell like noone's mother!
He will land on his feet, Corcoran's loss and it wasn't their first and it won't be their last.

Posted by: oohlala at October 31, 2008 11:25 AM

The What says that he used to be a realtor yet he doesn't seem to understand anything about the business model and how you'd typically prefer to keep your biggest producers!!!

Posted by: daveinbedstuy at October 31, 2008 11:28 AM

I had a few contacts with Jerry in my search. He wasn't for everybody personality-wise, but to me he was funny and harmless. Definitely a spin-meister but that is the nature of the beast. I wish him well in whatever he does next.

Posted by: wasder at October 31, 2008 11:37 AM

It is hard for me to say anything positive about Jerry Minsky. He was supposedly the broker on my FG townhouse when I bought it 3 years ago and I NEVER EVEN MET HIM.

Posted by: Lisa FG at October 31, 2008 11:43 AM

so what that you didn't meet him. did u use an agent t buy it and he was the listing broker? if so, then are u happy with your home? if so, then who gives a rats ass if you met him or not?

Posted by: oohlala at October 31, 2008 11:56 AM

"The What says that he used to be a realtor yet he doesn't seem to understand anything about the business model and how you'd typically prefer to keep your biggest producers!!!"

I'm a Broker and Jerry is one also. When you work for a Broker the relationship is a Independent Contractor, not a employer/employee relationship. Both parties can terminate the relationship at any time. Jerry can go to NYS Dept of State and get an iindividual Brokers license.

How do you know Jerry was producing now DIBS? Plus if Jerry was the Super Broker why did he star his own shop? We don't have all the answers here, just speculation.

The What

Someday this war is gonna end...

This is a different market.

Posted by: Return of The What at October 31, 2008 12:02 PM

Exactly my first post at 10:16...and yes, I know that the majority of them are "independent contractors." That said, in a downturn you try to hold onto your best producers first.
The article states that he was one of their best producers.

You completely missed the point again as usual.

Just because someone's a good producer doesn't mean they'll be good at running their own shop. You take away the focus from what you do best and lose in the long run.

Posted by: daveinbedstuy at October 31, 2008 12:16 PM

i am pretty sure that Jerry had a down year this year sales wise.

Posted by: wasder at October 31, 2008 12:22 PM

DIBS Walk into a Corcoran office and ask them to show you the Independent Contractor agreement. You have to pay for everything (desk space, cards, ads and materials) also you have to pay a franchise fee for each transaction. The reason that was good because they was selling stuff to the Asshats from Manhattan. Now the momentum has shifted it's every man and woman for themselves.

"The article states that he was one of their best producers."

The amount of sales or the amount of money per transaction???? Or Corcoran golden hype boy? Dave you don't understand the politics working in Real Estate, it's all crap...

The What

Someday this war is gonna end...

Posted by: Return of The What at October 31, 2008 12:28 PM

All true. Someone please find out the details behind this lest it become an all consuming discussion that takes us away from our daily tasks and jobs.

Posted by: daveinbedstuy at October 31, 2008 12:37 PM

This is the day I have been waiting for! Thanks Brownstoner for posting this. That man has made my and my mother's life a living hell for the last two years. He is greedy, evil, and represents all that is wrong with this industry. He'll smile the money right out of your pockets and laugh about it all the way to the bank. Wow, this is a really good day.

Posted by: starchild at October 31, 2008 1:31 PM

Do tell starchild.

Posted by: daveinbedstuy at October 31, 2008 1:41 PM

Interestingly enough, wait till corcoran finds out who else is evil within...some of their heavy hitters are out there "speaking with other folks". Looks like a mad exodus might happen! hmmm, and who will they take with them!!!!!!!??

Posted by: oohlala at October 31, 2008 2:04 PM

I remember reading that quote and thinking it was strange for two reasons: first that a realtor would so bluntly say that things are down and two that a 30-year-old "hipster" would move to Park Slope.

Posted by: BrooklynButler at October 31, 2008 4:03 PM

Maybe Cocoran got pissed at him for taking listings that were not selling and actually lowering the prices.

Posted by: Xander Crews at October 31, 2008 9:44 PM

Didn't the retired Ms. Corcoran herself buy a property in Bed Stuy recently? Maybe Jerry drove her to it and it was a bum deal. But seriously, who knows. Given his credentials and talents, maybe he should go revive North Philly, Camden and other neglected historical districts of America. This could be the start of their golden age. Go Jerry!

Posted by: meerkatz at November 2, 2008 9:00 PM

Great idea! Jerry goes to revive North Philly or Camden. No one will ever have to hear from him, again and again, how he is solely responsible for the neighborhood Fort Greene is today, or what marginal celebrity he has been associated with during a real estate sale.

Posted by: chase at November 2, 2008 10:24 PM

One can only hope that he takes the time to get the mental health help he needs. He seriously has a missing screw or maybe, like the Grinch, his heart is two sizes too small.

Posted by: Kill Them All at November 3, 2008 1:01 AM

One can only hope that he takes the time to get the mental health help he needs. He seriously has a missing screw or maybe, like the Grinch, his heart is two sizes too small.

Posted by: Kill Them All at November 3, 2008 1:01 AM

I have to agree with starchild. Plus he's only nice when he's on meds. Apparently, his wife is an educator who deals with special needs children; perhaps her skills help her deal with him on a daily. I guess the fact that he brings home a good amount of bacon also helps...

Posted by: jaqofbklyn at November 10, 2008 11:44 AM

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