Summer 2026 · Brokerage Research Internship

Welcome to Nomad, Alice.

You're now part of a tech-forward commercial real estate team that's reimagining how New York's fast-moving companies find office space. This handbook is your map for the summer, how we work, the language of the deal, and exactly what your first week looks like. Read it once now, and keep it open as a reference.

First dayMon, June 1, 2026
Office276 Fifth Ave, Ste 402
Hours9am–5pm · Mon–Fri
TeamAgency & Residential
01About Nomad

A tech-focused brokerage, built for high-growth teams.

Nomad Group was founded in October 2019 by Matthew DeRose, William Janetschek, and Adam Justin. We own, manage, and lease over 1.5 million square feet of commercial space across New York City, and we use that portfolio to give growing companies flexible office space at below-market rates.

Our clients are predominantly high-growth, VC-backed companies, the kind that go from 6 employees to 100 in less than a year. Traditional brokers struggle to serve teams moving that fast. We don't. With proprietary software and an in-house construction company, we hand clients a transparent look into the market and supply the data points that make them confident they made the right workspace decision.

2019
Founded in NYC
1.5M+
Sq ft owned, managed & leased
15
Buildings in the portfolio
100%
Focused on the modern occupier

The Nomad Way

Our philosophy is simple: a superior customer experience earns trust, and trust earns repeat business. Where most commercial brokerages chase revenue and shareholder value above all else, we place customer-value first. We even measure a client's underlying worth through customer-based corporate valuation (CBCV), a deliberate shift away from "profit at all costs" toward collaboration, precision, and accountability.

Unlike big CRE firms where sales teams compete under one roof, we promote collaboration across the whole organization, sharing information to expedite learning, grow networks, and close more deals. Transparency is the model. We've seen how the old guard treats information as "less is more"; that's the broken model we've pledged to end.

Our vision

Ten years ago, companies signed 10–15 year leases and rarely revisited them. Today, VC-backed companies grow from 6 to 100 employees in under a year, and these founders are well-educated and demand simplified software that re-focuses their attention on what they do best, their company. Nomad exists to serve that modern occupier with clarity, speed, and care.

Why this matters for youYou're joining the research engine behind that promise. The clearer and more accurate the market data we put in front of clients, the more "elevated" their experience feels, and that work starts with interns like you.
02Your Role

What you'll do this summer.

As a Brokerage Research Intern, you'll work alongside Megan Gallagher and David Greene across three areas: residential, the Justin Management (JM) agency portfolio, and 30 West 21st Street. You'll get a rare look at both sides of the business, the agency (owner) side and the tenant side, and learn the craft from the ground up: touring properties, pulling market research, assembling comps and listing materials, and shadowing real deals.

Where you'll focus

You'll split your time across three workstreams, each with a lead who gives you direction and feedback.

MG

Residential, with Megan

Support Megan Gallagher on residential listings and clients: research, comparables, listing prep, and showings. Megan works well beyond residential, so expect to see her other deals too.

JM

JM agency portfolio

Agency (owner-side) work for the Justin Management portfolio: track availability, tenants, and building data, and help keep the leasing picture current.

DG

30 West 21st Street, with David

Agency work on this building with David Greene: leasing activity, inbound interest, pricing context, and tour coordination.

Agency vs. tenant rep

Two of your three workstreams, the JM portfolio and 30 West 21st Street, are agency work: you represent the owner, so the job is to market and lease the owner's space, track who is touring it, and help set rents and concessions to maximize the building's income. That's a different muscle from tenant representation and prospecting, where you represent a company hunting for space and the work is lead gen, availability searches, and negotiating on the tenant's behalf. You'll do both this summer, and residential adds a third flavor. Section 10 breaks down the day-to-day of each side.

The kind of work

Agency & listings

Help market owner space: availability tracking, comparables, leasing activity reports, listing materials, and tour coordination.

Tenant rep & prospecting

Build and clean prospect lists, research target clients, run availability searches, and support outreach over email, LinkedIn, and warm calls.

Market & property research

Pull data from CoStar and our Master Excel sheet, track active listings, and build the picture of what's available and at what price.

Shadow the deal

Sit in on showings, tours, calls, and negotiations. Watch a deal move from first conversation to signed.

What we expect

Real estate is a fast-paced business: you'll get out what you put in. Be present in the office during office hours (9am to 5pm, Monday to Friday); being in the room speeds up your learning curve and the deals you're part of. Communicate professionally, take initiative, ask questions, and learn the language (the glossary in section 09 is your friend). Curiosity and hustle matter more than knowing the answers on day one.

What success looks like by AugustYou can navigate CoStar, speak the language of a deal, and build comps, listing materials, and a prospect list on your own. You've contributed to Megan's residential and agency work, the JM portfolio, and 30 West 21st Street, plus a summer project you present to the team.
03Week 1 · Foundation & Initial Strategy

Your first week, day by day.

June 1–5, 2026. The goal of week one is simple: get set up, meet the team, and start building a foundation in commercial real estate. Don't worry about being an expert. Just absorb, ask, and take notes.

MondayJune 1 · Setup & orientation
  • Office tour and desk setup; meet the team
  • Walk through this handbook together
  • Set up company email, Slack, JustWorks (payroll & HR), CoStar, ClientPoint, and your Vonage phone
  • Overview of commercial real estate fundamentals
  • Get familiar with the portfolio buildings
  • Intro to the Whale learning platform
TuesdayJune 2 · Tools & the portfolio
  • CoStar training with the team (~2:30pm)
  • Industry overview and Nomad's niche
  • Intro to Justin Management and our buildings
  • Understand active listings and the portfolio
WednesdayJune 3 · Property research
  • Intro to property research
  • Practice using CoStar with the Master Excel sheet
  • Tour of nearby buildings
ThursdayJune 4 · The numbers & the deal
  • Review learning videos in Whale
  • Intro to financial projections, modeling, and commercial deals
  • Intro to market reports
  • Intro to brokerage agreements, LOIs, and commission calculations
FridayJune 5 · Practice & recap
  • Practice independent prospect research and outreach
  • Recap of week 1 material with your mentor
  • Questions, feedback, and a look ahead to week 2
TipUse the Onboarding Checklist in section 05 to tick off each setup item as you go, it saves your progress automatically.
04Your Summer Arc

The 10-week journey.

Here's the shape of your summer, roughly June 1 to August 7. Think of it as a guide, not a contract: your mentors will adjust the pace and projects to match how quickly you're picking things up and what the team needs.

Week 1
Jun 1–5

Foundation & orientation

Get set up, meet the team, and learn CRE fundamentals and the Nomad portfolio.

Week 2
Jun 8–12

Tools & market fundamentals

Build CoStar fluency, learn to read market reports, and master the building portfolio.

Week 3
Jun 15–19

Prospect research & lead gen

Build clean prospect lists, tap alumni networks, and learn where Nomad's best leads come from.

Week 4
Jun 22–26

Outreach in practice

Support real outreach over email and LinkedIn, and sit in on warm calls.

Week 5
Jun 29–Jul 3

Tenant representation

Run availability searches and help assemble client-ready space books.

Week 6
Jul 6–10

The deal mechanics

Go deep on LOI terms, lease structure, and how negotiations actually unfold.

Week 7
Jul 13–17

Financial modeling

Rent schedules, escalations, TI and concessions, and tenant financial projections.

Week 8
Jul 20–24

The landlord side

Market comp reports and leasing activity reports from the agency/landlord perspective.

Week 9
Jul 27–31

Own a mini-project

Take the lead on a research deliverable, a submarket report or a target-tenant study.

Week 10
Aug 3–7

Capstone & wrap-up

Present your project to the team, gather feedback, and talk about what comes next.

05Onboarding Checklist

Get set up and check it off.

Work through these as you go. Your progress saves automatically in this browser, so you can close the page and pick up where you left off.

Your onboarding progress

0 of 0 complete

Day 1: accounts & access

Week 1: learn the ropes

First month: early goals

06The NYC Landscape

Know the players and the market.

You'll interact with these firms daily. It's crucial to keep a positive working relationship across the brokerage community: lead the team in "killing people with kindness." Turning a tense conversation into a constructive one is a skill that separates you from the old-school, self-interested way of doing business.

FirmFoundedQuick read
JLL1783Global real estate services firm with offices in 80+ countries; founded over 240 years ago in London.
Savills1855British firm operating since the mid-1800s; predominantly (~95%) handles tenant representation.
CBRE1906US-based and the largest commercial real estate services & investment firm. CBRE = Coldwell Banker Richard Ellis.
Cushman & Wakefield1917Global commercial real estate services firm; corporate HQ in Chicago.
Newmark1929Commercial real estate advisory headquartered in NYC; trades on the NASDAQ under "NMRK."
Colliers1976Canadian-based diversified professional services & investment management firm; ~18,000 employees in 400+ offices.
Avison Young1978Global commercial real estate firm headquartered in Toronto, with 100+ offices in 15 countries.
Kaufman1910The Kaufman Organization, a three-generation, family-owned, NYC-based real estate company.
Olmstead1930Olmstead Properties, one of NYC's longest-standing real estate companies, ~4.5M sq ft.

By market cap, the most active commercial brokerages are CBRE, JLL, Colliers, Cushman & Wakefield, Savills, and Newmark, in roughly that order.

Market snapshot: Q1 2026

A quick read on the Manhattan office market you're walking into. Leasing has roared back, driven by AI and large-tenant deals, while available Class A space keeps shrinking.

11.8M
SF leased in Q1, strongest first quarter since 2014
13.7%
Availability rate, down for 8 straight quarters
$77.55
Avg. Manhattan asking rent / SF (+2.0%)

By submarket, average asking rents run about $84.74/SF in Midtown, $80.27/SF in Midtown South, and $61.70/SF Downtown. (Q1 2026 Manhattan figures; see footer for sources.)

Why it matters for NomadA tight market with rising rents is exactly where our clients, fast-growing teams who need space now, feel the most pressure. Sharp, current research is how we help them move quickly and confidently.
07Outreach Playbook

How leads turn into deals.

Nomad prides itself on lead generation: attention to detail and client satisfaction. The goal is to get an introduction, demonstrate our unique value almost immediately, and get potential clients to respond. Here are the four channels you'll support.

01

Direct outreach

Email, LinkedIn, and calls. A well-written message is immeasurable. Pair professionalism with a hint of whimsy and curiosity, and a personal touch. Cold calling is out; warm calling is in.

02

Alumni networks & follow-up

NYC is a huge city and alumni have always shown to be valuable network members. Follow up and stay connected.

03

Network, network, network

The industry has a lot to offer, from weekly networking events to member associations. Build, join, and support local groups.

04

Utilize coworking spaces

Coworking spaces are a great pool of potential customers, companies ready to advance their culture, brand, and mission.

Email tips & tricks: how to separate yourself from the pack

  1. Personalization

    Address the recipient by name. Exact spelling matters. Do a quick search to learn how they like to be addressed.

  2. Introduction

    Open with a friendly, engaging greeting. You have one shot in the first sentence to make them keep reading.

  3. Clear subject line

    Craft a subject that grabs attention and clearly signals the email's purpose.

  4. Research, research, research

    Learn about the company you're engaging: what they do and how they do it differently.

  5. Testimonials & success stories

    Where relevant, include brief proof from satisfied clients who found their dream workspace through us.

  6. Concise, relevant content

    Keep it focused on the recipient's needs. Avoid jargon and long paragraphs; short paragraphs read better.

  7. Nomad's value

    Clearly communicate how we solve the recipient's specific problem. We're a unique company at the CRE stage. Prove it.

  8. Ending the email

    End with a meaningful way to continue the conversation and encourage engagement.

Relevant, persistent communication is key. It builds relationships, addresses objections, and keeps you top-of-mind, opening the door to feedback, referrals, and earned trust.

Warm calling: how to keep the conversation going

You'll get a call sheet each week with carefully selected prospects categorized as warm leads. Here's how to make the call count.

  1. Gather relevant data

    Collect and organize data on your lead. The more you know, the better prepared you'll sound.

  2. Use a call script

    Have a concise, structured script with the key points you want to convey, plus open-ended questions.

  3. Timing matters

    Calls between 8–10am, 1–2pm, or 4–5pm tend to land better. Mind your prospect's time zone.

  4. Listen actively

    Focus on the lead's needs and concerns, and tailor your pitch. Ask about amenities and workplace policies.

  5. Offer value & solutions

    Show how Nomad solves their specific problem, and be ready to address objections.

  6. Follow up

    Send a summary email with action items, and keep nurturing the relationship with periodic check-ins.

08The Deal · LOI & Negotiation

How a lease actually comes together.

A Letter of Intent (LOI) is a non-binding document that outlines the major deal terms to be negotiated between a tenant and landlord. It's the foundation that gets implemented in the lease document. Tap each term to learn what it means.

Identifies who's at the table: the prospective tenant (the company) and the landlord / owner of the building.

The total square footage of the leased space, along with the floor or suite number and any other identifiers.

The intended use of the space, outlining any restrictions or special requirements for how it can be occupied.

How long the lease runs. Commercial terms are typically anywhere from 1 to 10 years, depending on the building, owner, and deal.

The price per square foot (PSF), typically expressed as an annual rent on the rentable square footage, plus the rent amount and payment schedule.

How and when rent increases. Direct Operating Expenses (OpEx) are typically taken on footprints at or above 10,000 SF; smaller spaces usually use fixed rent escalations negotiated around 2.00–3.00%.

The condition of the space at lease start, including any build-out responsibilities. A Tenant Improvement (TI) Allowance is the amount (price PSF) ownership will provide for a build-to-suit, negotiated between landlord and tenant.

Three common types: Direct (straight to Con Edison, most economic), Sub-metered (you pay the landlord for measured consumption), and Rent Inclusion (electric is built into rent).

Whether cleaning is the landlord's expense or the tenant's obligation, and if it's the tenant's, finding a cleaner who meets the building's insurance requirements.

A grant giving the tenant the option to match an offer from another party when the owner decides to lease additional space in the building.

The options a tenant has to renew, extend, or expand the space in the future.

Whether the tenant can sublease its premises or assign its lease, and what landlord consent is required to do so.

Often required and negotiated based on the tenant's financials.

Whether the tenant can install and maintain signage in the lobby, common corridors, and within their own premises.

Typically 24/7 access, seven days a week, 24 hours a day.

A timeframe within which the tenant can conduct inspections and due diligence on the property.

Last but not least: how we get paid. The commission is stated in accordance with a separate agreement and calculated by Nomad Property Group LLC.

Negotiations: how to make the deal

Lease negotiation blends finance, communication, and strategy to secure the best deal for the party you represent. Five elements matter most.

  1. Time

    Time is your best friend. Start early, and submit a non-binding offer to express interest while you keep touring options. Keep the client focused on 2–3 options.

  2. Optionality

    A good broker always has a Plan A and at least one back-up. If the client gets outbid, ownership may make an in-house direct deal or expansion.

  3. Understanding needs

    Understand the most important needs of both your client and the party across the table. Clear, open communication is vital.

  4. Market analysis

    Know the competition and comparable listings nearby, and benchmark lease terms against the market to ground the conversation.

  5. Flexibility

    The best negotiations involve some give and take. Be ready to adapt and find creative solutions to get past impasses.

09CRE Glossary

Speak the language.

Commercial and residential real estate share a deep vocabulary, spanning leasing, finance, development, and the law. This is the fastest way to look something up mid-conversation or mid-email. Filter by category, or start typing to search every term.

Leasing

Letter of Intent LOI

A preliminary, non-binding written document outlining the key terms of a proposed deal before the lease is drafted.

Leasing

Rentable Square Feet RSF

The total space you pay rent on, including a share of common areas like lobbies, stairs, elevators, and restrooms.

Leasing

Usable Square Feet USF

The floor area a tenant actually occupies and uses, often called the carpetable space.

Leasing

Loss Factor

The portion of RSF not exclusively dedicated to the tenant. In short, RSF minus USF equals Loss Factor.

Leasing

Core Factor / Add-on Factor

The percentage added to usable space to account for shared building areas, bridging USF up to RSF.

Leasing

Price per Square Foot PSF

Rent expressed per square foot, usually as an annual figure on the rentable square footage.

Leasing

Class A building

Premier, top-of-the-line space with high-quality finishes, modern systems, security, and amenities. Commands the best rents.

Leasing

Class B building

Generally older but well-kept space, often renovated, at mid-market pricing.

Leasing

Class C building

Older space, often on side streets, with fewer amenities and the lowest rents.

Leasing

Gross Lease (Full-Service)

The tenant pays one fixed rent and the landlord covers taxes, insurance, and maintenance.

Leasing

Net Lease

The tenant pays base rent plus some of the property operating costs.

Leasing

Triple Net Lease NNN

The tenant pays base rent plus the three nets: property taxes, building insurance, and common area maintenance.

Leasing

Modified Gross Lease

A middle ground where rent includes a base year of expenses and the tenant pays increases above that year.

Leasing

Common Area Maintenance CAM

A tenant pro-rata share of the cost to operate shared areas like lobbies, hallways, elevators, and parking.

Leasing

Operating Expenses OpEx

Building operating costs that can be passed through to tenants; the basis for escalations on larger footprints.

Leasing

Base Year

The reference year for operating expenses; the tenant pays increases above that baseline.

Leasing

Escalations

Scheduled rent increases over the term, either a fixed percentage (often 2 to 3%) or OpEx pass-throughs.

Leasing

Pass-throughs / Recoveries

Operating costs the landlord recovers from tenants on top of base rent.

Leasing

Concessions / Free Rent

Landlord incentives, like months of free rent or extra TI, used to win a tenant.

Leasing

Tenant Allowance / Improvement TA / TI

The dollar amount (PSF) a landlord provides to help build out and customize the space.

Leasing

Built-to-suit

Space designed and tailored to a specific tenant, typically built out at or funded by the landlord.

Leasing

Raw Space / White Box

Unfinished space; a white box has basic ceilings, flooring, and infrastructure but still needs customization.

Leasing

Effective Rent (Net Effective)

The average rent over the lease term after subtracting concessions like free rent and TI.

Leasing

Face Rent / Asking Rent

The quoted rent before any concessions are factored in.

Leasing

Lease vs. Rent Commencement

Lease commencement is when the lease legally starts; rent commencement is when payments begin, often later after free rent.

Leasing

Demised Premises

The specific space leased to a tenant, defined by its demising walls.

Leasing

Possession / Delivery

When the landlord hands the space over to the tenant to begin work or occupancy.

Leasing

Right of First Refusal ROFR

The right to match a third party offer on additional space before the landlord leases it to them.

Leasing

Right of First Offer ROFO

The right to be offered additional space first, before the landlord markets it to others.

Leasing

Renewal Option

A pre-negotiated right for the tenant to extend the lease for a set term.

Leasing

Expansion Option

A pre-negotiated right for the tenant to take additional space.

Leasing

Termination Option

A negotiated right to exit the lease early, often with a fee.

Leasing

Sublease

Leasing your space, or part of it, to another tenant, generally with landlord consent.

Leasing

Assignment

Transferring your entire lease to another party, generally with landlord consent.

Leasing

Direct electric

Tenant pays Con Edison directly, usually the most economic option.

Leasing

Sub-metered electric

Tenant pays the landlord for measured electric consumption.

Leasing

Rent inclusion

Electric cost is built into the base rent.

Brokerage

Space book

A clean, client-ready document of curated available spaces matched to a client needs.

Brokerage

Availability search

A thorough breakdown of active listings that meet a client requirements; also called a market overview.

Brokerage

Comparable (comp)

A similar lease, listing, or sale used to benchmark price and terms.

Brokerage

Market comp report

A usually quarterly report giving owners real-time insight to set or adjust rents and pro forma.

Brokerage

Leasing activity report

Insight into inquiries and tours for a building: what is resonating and what to adjust.

Brokerage

Tenant representation

Representing the tenant interests in finding, evaluating, and negotiating space.

Brokerage

Agency / landlord rep

Representing the owner interests in leasing space and maximizing income.

Brokerage

Exclusive

A signed agreement giving one broker the sole right to market a space or represent a client for a period.

Brokerage

Co-broke

A deal where two brokers, one for each side, split the commission.

Brokerage

Brokerage commission

The fee paid for a completed deal, set by a separate agreement.

Brokerage

Broker Opinion of Value BOV

A broker informed estimate of a property value or market rent, short of a formal appraisal.

Brokerage

CBCV

Customer-Based Corporate Valuation, Nomad way of assessing a firm underlying value through customer metrics rather than profit at all costs.

Brokerage

Warm lead

A carefully selected prospect likely to entertain a call, surfaced through Nomad platform.

Brokerage

Build-out

The construction work that turns raw or white-box space into a usable, customized office.

Finance

Net Operating Income NOI

A property income after operating expenses but before debt service and taxes.

Finance

Capitalization Rate (Cap Rate)

NOI divided by property value, expressed as a percent. The unlevered yield at a point in time.

Finance

Going-in vs. Exit Cap Rate

The cap rate at purchase versus the assumed cap rate at sale, used to project value.

Finance

Debt Service Coverage Ratio DSCR

NOI divided by annual debt service. Lenders often want 1.25x or higher.

Finance

Loan-to-Value LTV

The loan amount as a percent of property value. A $20M loan on a $40M asset is 50% LTV.

Finance

Loan-to-Cost LTC

The loan amount as a percent of total project cost, common on construction and value-add deals.

Finance

Cash-on-Cash Return

Annual pre-tax cash flow divided by the cash invested. A levered return for a single period.

Finance

Internal Rate of Return IRR

The annualized return that accounts for the timing of all cash flows over the hold.

Finance

Equity Multiple

Total cash returned divided by cash invested over the life of the deal.

Finance

Capital Stack

The layered hierarchy of capital, from senior debt up through mezzanine, preferred equity, and common equity.

Finance

Senior Debt

The most secure layer of financing, first to be repaid and lowest cost.

Finance

Mezzanine Debt

Junior debt that sits behind senior debt and carries higher risk and return.

Finance

Preferred Equity

A hybrid position between debt and equity that is paid a fixed return before common equity.

Finance

Bridge Loan

Short-term financing used to stabilize or reposition a property before permanent financing.

Finance

Permanent Loan

Long-term, stabilized mortgage financing on an operating property.

Finance

CMBS

Commercial Mortgage-Backed Securities: pools of commercial mortgages packaged and sold to investors.

Finance

Defeasance

A prepayment method that swaps the loan collateral for government securities replicating the remaining cash flows.

Finance

Prepayment Penalty

A fee charged for paying off a loan early.

Finance

Recourse vs. Non-recourse

Whether the lender can pursue the borrower other assets (recourse) or only the property (non-recourse).

Finance

Amortization

Paying down a loan principal and interest over time in scheduled installments.

Finance

Debt Service

The total principal and interest payments due on a loan over a period.

Finance

Gross Rent Multiplier GRM

Property price divided by gross rental income, a quick screening metric.

Finance

Pro Forma

A projection of a property income and expenses, used to model the economics of a deal.

Finance

Vacancy Rate

The share of space sitting empty in a building or market.

Finance

Net Absorption

The change in occupied space over a period, a gauge of demand.

Finance

REIT

Real Estate Investment Trust: a company that owns or finances income property and trades like a security.

Finance

1031 Exchange

A tax-deferral tool that lets a seller defer capital gains by reinvesting in a like-kind property within set deadlines.

Finance

Sale-Leaseback

An owner sells a property and immediately leases it back, freeing capital while staying in place.

Finance

Ground Lease

A long-term lease of land on which the tenant builds or operates, with improvements often reverting to the owner at the end.

Finance

Replacement Cost

What it would cost to rebuild a comparable property today, used in valuation and insurance.

Residential

Escrow

A neutral third party holds funds and documents until the conditions of a transaction are met.

Residential

Earnest Money

A good-faith deposit a buyer puts down to show serious intent.

Residential

Contingency

A condition in a purchase agreement, such as financing or inspection, that must be met to proceed.

Residential

PITI

The four parts of a typical mortgage payment: Principal, Interest, Taxes, and Insurance.

Residential

Down Payment

The portion of a purchase price paid up front, with the rest financed.

Residential

Pre-approval

A lender conditional commitment to a loan amount based on a buyer finances.

Residential

Appraisal

A professional estimate of a property value, often required by a lender.

Residential

Title Insurance

Coverage protecting a buyer or lender against defects in the property ownership history.

Residential

Closing Costs

The fees and charges paid at the close of a sale, beyond the price itself.

Residential

Co-op vs. Condo

In a co-op you own shares in a corporation that owns the building; in a condo you own your unit outright.

Residential

Board Package

The application a NYC co-op buyer submits for board approval, including financials and references.

Residential

Maintenance / Common Charges

Monthly fees co-op or condo owners pay toward building operating costs.

Residential

HOA

Homeowners Association: a body that manages a community or condo and collects dues.

Residential

Rent Stabilization

A NYC regulatory regime that limits rent increases and grants renewal rights on covered units.

Residential

Unit Mix

The breakdown of apartment types and sizes in a multifamily building.

Retail / Industrial

Anchor Tenant

A large, high-traffic tenant that draws shoppers and anchors a retail center.

Retail / Industrial

Co-tenancy Clause

A retail lease term letting a tenant cut rent or exit if key anchors or occupancy thresholds are not met.

Retail / Industrial

Percentage Rent

Retail rent that adds a percentage of tenant sales above a set breakpoint to the base rent.

Retail / Industrial

Gross Leasable Area GLA

The total floor area designed for tenant occupancy and exclusive use, common in retail.

Retail / Industrial

Pad Site / Outparcel

A standalone building lot at the edge of a shopping center, often for a bank or restaurant.

Retail / Industrial

Clear Height

The unobstructed vertical space in an industrial building, floor to the lowest overhead obstruction.

Retail / Industrial

Dock-high / Loading Dock

A raised loading position that meets truck-bed height for efficient freight handling.

Retail / Industrial

Last-mile facility

A distribution space near population centers used to speed final delivery to customers.

Development

Zoning

The rules that govern what can be built and how land can be used in a given district.

Development

Floor Area Ratio FAR

The ratio of a building total floor area to its lot size; an FAR of 2.0 allows floor area twice the lot.

Development

As-of-Right

A use or building permitted automatically under zoning, with no special approval needed.

Development

Variance

An approved exception to zoning rules, granted when strict enforcement would cause hardship.

Development

Entitlements

The legal approvals (zoning, site plan, permits) required before a property can be developed.

Development

Setback

The minimum required distance between a building and a property line, street, or other structure.

Development

Air Rights / TDR

Unused development rights above a property that can sometimes be transferred to a neighboring site.

Development

Certificate of Occupancy C of O

The municipal sign-off that a building is legally fit to occupy for its intended use.

Development

Hard vs. Soft Costs

Hard costs are physical construction; soft costs are fees like design, legal, and financing.

Development

Adaptive Reuse

Converting a building from one use to another, such as office to residential.

Development

Mixed-Use

A building or project that combines uses, such as retail at the base with residential or office above.

Legal

Estoppel Certificate

A signed statement by a tenant confirming lease terms and status for a lender or buyer.

Legal

SNDA

Subordination, Non-Disturbance, and Attornment: an agreement protecting a tenant lease if the owner loan is foreclosed.

Legal

Good Guy Guaranty

A NYC personal guaranty that caps a guarantor liability if the tenant vacates and returns the space in good order.

Legal

Holdover

When a tenant stays past lease expiration; rent often jumps (commonly to 150%) during this period.

Legal

Quiet Enjoyment

A tenant right to use the premises without undue interference from the landlord.

Legal

Default / Cure Period

A breach of the lease, and the window a party has to fix it before consequences apply.

Legal

Force Majeure

A clause excusing performance when extraordinary events make it impossible.

Legal

Due Diligence

The investigation and inspection period before committing to a deal.

Legal

Easement

A legal right to use part of someone else property for a specific purpose, like access or utilities.

Legal

Lien

A legal claim against a property for an unpaid debt, which can block a sale until resolved.

Legal

Deed

The legal document that transfers ownership of real property from one party to another.

No terms match. Try a shorter word or an abbreviation like “NOI”.
10Daily Work Procedures

The two sides of every deal.

Most of your research feeds one of two workflows: representing the tenant or representing the landlord. Knowing both makes you a sharper analyst.

Tenant representation

Availability search / market overview

A detailed breakdown of active listings in tune with the client's needs. Shared across the team in Google Sheets with specific search parameters so everyone offers unique guidance.

Space books

After the availability search, narrow the top selections into a clean, concise list of spaces that fit the client, an easy reference to share with the team.

Tenant financial projections

A projections analysis helps the client visualize and understand how to achieve their targeted budgetary restrictions and net effective exposure.

Agency / landlord

Market comp reports

Quarterly market reports give landlords real-time insight: current data on direct competition and comparables, so they can adjust rents and maximize income.

Leasing activity reports

Detailed insight into how many inquiries and tours a space is getting, critical feedback on what to adjust about the neighborhood, building, and floor.

Landlord financial projections

A proper breakdown helps landlords see how we can get creative to accomplish rent parameters and pro forma numbers (abatement, TI allowance, FF&E) to push the deal toward a signed lease.

11Values We Live By

How we work together.

Our goal is simple: build a community where the team cultivates lasting relationships that go beyond a single transaction. These are the values that get us there.

Enthusiastic

We live and breathe real estate. It's just who we are, and it's all about helping our clients thrive.

Authentic

We stay true to our brand, values, and mission, bringing transparency to an industry riddled with obscurity.

Customer centricity

We put clients above all else: active listening, real feedback, and exceptional service.

Timekeeping

We're client-driven, focused on each client's unique needs to help them get where they want to be.

Ethical

We take pride in our work and never sacrifice long-term values for short-term success.

Competitive

We wouldn't be here if we were okay being average. A high level of competition drives passion and professionalism.

Learning

Nobody in this company is too good or too knowledgeable to learn from the rest. Thrive off every person.

Work-life integration

Be the same person at home as in the office. Great ideas and real relationships form when we integrate the two healthily.

12Team & Buildings

Meet the team.

Your team. Don't hesitate to reach out to anyone; everyone here was new once, and we learn from each other.

MD
Matthew DeRose
Co-Founder, CEO
WJ
William (Billy) Janetschek
Co-Founder, COO
AJ
Adam Justin
Co-Founder, Principal at Justin Management
DG
David Greene
Principal at Nomad Group
SR
Sam Reznitsky
Senior Vice President
MG
Megan Gallagher
Director
NH
Nicholas Hein
Director
GJ
Grant Janovic
Associate
CB
Calvin Bruwelheide
Associate

Nomad buildings

The portfolio you'll get to know. Many of your tours will start here.

  • 115–124 West 30th Street
  • 213 West 35th Street
  • 127 West 26th Street
  • 22 West 27th Street
  • 11 East 44th Street
  • 900 Broadway
  • 1237–1239 Broadway
  • 346 Madison Avenue
  • 119 Fifth Avenue
  • 104 West 27th Street
  • 30 West 21st Street
  • 147 West 26th Street
  • 153 West 27th Street
  • 24–26 West 30th Street
  • 65 West 30th Street

Welcome to the team, Alice!

Any questions before day one? Reach out anytime. We're glad you're here.

276 Fifth Avenue, Suite 402
(646) 688-3158