Jones Lang LaSalle


Kenneth Krasnow: Broker finally breaks out
Former C&W bigwig defects to rival; will help raise Dallas firm's profile in NY
By Julie Satow Published on January 23, 2006

Kenneth Krasnow is a creature of habit. He worked at one company for nearly half his life and has vacationed at the same resort in Vero Beach, Fla., for the past 10 years.

But with his fourth decade looming before him, Mr. Krasnow made a dramatic change. The executive managing director of Cushman & Wakefield Inc.'s New York office jumped to national real estate brokerage firm Trammell Crow Co. The company hired him last month as executive vice president and director of brokerage services, a newly created position. His mission is to raise Trammell Crow's profile in New York.

The Dallas-based firm wooed Mr. Krasnow for the better part of a year. "They approached me when I was turning 40, and at that time I had been thinking about where the industry was going and where I was in my life," says Mr. Krasnow. "The timing was fortuitous."

Trammell Crow, which counts ExxonMobil and McDonald's among its largest clients, has long concentrated its resources in other markets around the country. While its New York office has more than doubled in the past year, Trammell Crow employs only 20 brokers here, many of whom focus on clients outside of the city. The company hopes to hire an additional 30 New York brokers over the next two to three years.

Networking ability

"Ken was hired to aggressively use the contacts he's built up over the past 20 years to promote our platform among the brokerage community," says Richard Bernstein, the firm's New York area president and Mr. Krasnow's boss. "Trammell Crow realizes the potential in New York is enormous, and one of its most important initiatives is to focus on this expansion."

Mr. Krasnow's switch comes with some risks. While Cushman & Wakefield is one of New York's top brokerage firms, Trammell Crow is relatively unknown. And as the commercial market continues to tighten with ever-higher rents, the competition within the brokerage community for market share is likely to increase.

Still, Mr. Krasnow says he's confident he can build his new charge's business. Trammell Crow offers strategic planning and lease administration in addition to traditional brokerage services, giving it an edge over its competitors, he says.

The firm is also well-funded and has an infrastructure that will allow the brokers who join his team "a seamless transition," says Mr. Krasnow.

"This is my opportunity to make my mark in this city," he says.

Man of many hats

In Mr. Krasnow's new job, which includes business development, recruiting and retention, his responsibilities are similar to those he handled at Cushman & Wakefield, where the married father of two wore several hats.

After working as a broker for 10 years, the Emory University graduate spent two years running the firm's suburban offices before becoming head of the New York office following Sept. 11, 2001.

His final day at Cushman & Wakefield, Dec. 2, happened to be his 41st birthday. It was on that same day 18 years earlier that he joined the firm. "It shows that life comes full circle," he says.