Mortgage brokerage Eastern Union Funding is looking to expand aggressively, with plans to hire 200 brokers and open several new offices across New York City, company president Ira Zlotowitz told The Real Deal.
The hiring spree would triple the company’s staff size from about 100 workers. Zlotowitz said the firm plans to hire 100 new employees to work as what he calls origination brokers – tasked with sourcing loans – by the end of August. These plans put a rather abrupt end to the company’s expandedinternship program, which it had launched only in May. Instead of adding 100 interns, Zlotowitz said he would now rather bring on brokers on a more long-term basis.
Eastern Union is also looking to add small offices in Crown Heights, Williamsburg, Borough Park and Far Rockaway. “Technology allows mortgage brokers and clients to all synchronize, so why should someone have to commute to work?” he said.
This week, the Flatlands, Brooklyn-based firm launched its first small foothold in Manhattan at a Corporate Suites co-working space at 641 Lexington Avenue, where it will place four brokers with an eye on expanding to a larger office. Eastern Union, founded by Zlotowitz in 2001, focuses on small and mid-sized commercial real estate loans.