Nashville-based Matthews has tapped Thomas Gammino as executive vice president for its New York City office, poaching the investment sales veteran from Lee & Associates NYC, where he served as executive managing director.
Gammino brings deep commercial real estate expertise to Matthews at a moment when the firm is rebuilding its national platform. Matthews recently rebranded itself as a commercial real estate investment services and technology outfit, positioning itself beyond traditional brokerage.
The hire signals Matthews' push to expand its institutional investor and capital markets business in the nation's largest commercial property market. NYC remains the largest office and retail trading hub in the country, where deal velocity has slowed but institutional players continue to hunt for distressed and value-add opportunities.
For Matthews, landing a senior producing broker from Lee & Associates strengthens its ability to compete for mid-market and larger transactions. Lee & Associates operates as a franchise network with independent brokers; Gammino's departure suggests Matthews offered either equity, higher commissions, or both. The firm's technology platform and rebranding efforts likely factored into the pitch.
For NYC investment sales teams, this move reflects ongoing consolidation and reshuffling among mid-tier brokerages. Senior producers with proven deal flow continue to jump between platforms, shopping for better economics and technology support.
Buyers and sellers in NYC's commercial market benefit when veteran brokers like Gammino shift firms. Competition for marquee transactions intensifies, potentially improving service quality and market transparency. For institutional investors tracking NYC market activity, Gammino's presence at Matthews signals the firm's commitment to handling significant capital transactions in Manhattan.
Landlords facing lease negotiations or asset dispositions now have another credible option beyond the traditional bulge-bracket shops like CBRE, JLL, and Cushman & Wakefield. Smaller to mid-sized property owners gain negotiating leverage when veteran brokers establish footholds at