Total existing-home sales—completed transactions that include single-family homes, townhomes, condominiums and co-ops—rose 3.1% from December to a seasonally adjusted annual rate of 4.00 million in January.
J. Philip Commercial Group Launches New Business Brokerage Division
CARMEL—J. Philip Commercial Group announced recently the launch of a new service arm—J. Philip Commercial Group (JPCG) Business Brokerage that will be based here.
The brokerage firm reported that the new entity will be the first Putnam County-based business broker and will seek to fill a gap for entrepreneurs and business owners who have been underserved in the Hudson Valley, particularly in the Putnam and Northern Westchester County region.
The new service arm is led by Jennifer Maher, broker/co-owner, J. Philip Commercial Group, and David Lewis, JPCG Business Broker.
“The pandemic has shaken up the market and that’s not all bad,” said Maher. “Yes, some businesses are closing their doors or accelerating their exit strategy, but entrepreneurs, transplants from New York City and career changers are looking for business opportunities. J. Philip Commercial Group has been serving the real estate needs of businesses in Putnam and Westchester for seven years and there is a demand for a service that links business owners with potential buyers.”
“We have to quickly adapt to the needs of the market,” added co-owner J. Philip Faranda. “Business brokerage is in demand in a post-pandemic world. In fact, over the past few months, J. Philip Commercial Group has sourced buyers for several businesses, including a deli in Croton and a community water company in Mahopac.”
In addition to offering a geographically accessible base in the Hudson Valley region, JPCG Business Brokerage expects the firm’s business model to attract clients based on its favorable fee structure.
According to Lewis, a business broker and member of the International Business Brokers Association (IBBA), many business brokers charge an upfront fee in addition to commission. “They require anywhere from $2,500 to $5,000 or more, depending on the size of the business, to cover the time spent recasting the financials,” he said. “JPCG Business Brokerage only charges a commission when the business sells. We don’t make clients pay for the analysis.”
J. Philip Commercial Group was founded by Maher in 2015 as a sister company to J. Philip Real Estate, which was founded by J. Philip Faranda. The company is based in Putnam County and services clients in the states of New York and Connecticut.