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Minorities still rare in New York's commercial real estate community

 

When it comes to New York City commercial real estate, it's still a white man's world, according to The Real Deal, which interviewed 70 players from various disciplines. The residential sector is filled with female CEOs, but the commercial side is not. Many industry players said commercial property remains a testosterone-drenched sector with big risks and big rewards for masters of a “rough-and-tumble” world, where "entrenched discriminatory practices surrounding access to credit, commission-based pay and a clubby, male-dominated culture have raised the barrier to entry."Among 2016’s 10 largest Manhattan office lease deals, all the brokers involved were white. Four of the deals, did include at least one female broker, according to CoStar data. Looks like there's still a bit of a glass ceiling for minorities in commercial real estate. Organizations such as Project REAP and others are trying to help.

 

 

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