What Berko & Associates does

Berko & Associates is a multidisciplinary commercial real estate advisory firm founded in 2005 by Joe Berko, headquartered at 1180 Avenue of the Americas in New York City with a secondary office in Miami. The firm serves real estate developers, sponsors, property owners, and institutional investors across multifamily, mixed-use, office, retail, hotel, industrial, and development site asset classes. Its core offerings fall into three integrated service lines: Investment Sales (buy/sell brokerage on commercial properties), Finance & Capital Markets (senior debt, structured finance, mezzanine, and equity/joint venture placement), and the distinctive Israeli Bond Platform — a strategic partnership with the largest Israeli bond underwriter providing US real estate developers access to non-recourse corporate debt at fixed rates of 3.5%-7.5%. The firm maintains a sub-brand, Astor Realty Capital (launched 2017), through which it provides principal-side direct bridge, mezzanine, and equity investment products.

The firm operates a sales-led, senior-relationship-driven GTM motion focused on transactions in the $15M-$150M range. It reports cumulative transactional experience exceeding $3B across investment sales, structured finance, and syndications, with the Finance & Capital Markets Group alone advising on $2B+ in financing transactions. Revenue is generated via advisory and brokerage fees on completed transactions (transaction-based, quote-driven, not publicly disclosed), plus placement and arrangement fees from the Israeli bond channel and principal economics from Astor Realty Capital. Distribution is entirely direct enterprise sales — no marketplace, channel partners, or self-serve. Digital tools are limited to a basic financial mortgage calculator and property listings database on the company website. The firm is private, founder-owned, bootstrapped with no institutional capital, and employs approximately 24 people across associates, analysts, and support staff. Customer base spans enterprise-class developers and investors such as Silver Companies, Hornig Capital Partners, Savanna, Racanelli Construction, and IDM Capital across transactions ranging from $24M single-asset deals to $240M bond raises. The firm's competitive position rests on its extensive lender/equity network, the regulatory moat provided by Israeli bond access, and senior personnel with combined experience exceeding 60 years in corporate finance, investment banking, and CRE finance.

Name

Berko & Associates

Legal name

Berko Associates

Website

https://berkoassociates.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Berko & Associates is a New York-based commercial real estate advisory firm serving developers, sponsors, and institutional investors with investment sales, structured finance, and capital markets services, including a distinctive Israeli bond platform offering non-recourse debt at 3.5%-7.5%.

Ownership category

akta.pro rank

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D

Revenue model

1. Investment Sales Advisory: The firm advises on investment sales transactions, working with clients to buy and sell commercial real estate properties including office buildings, mixed-use properties, hotels, shopping centers, and industrial parks.
2. Capital Markets & Finance Advisory: Finance and Capital Markets team structures and places innovative debt structures, matching clients with suitable lenders or equity partners. They access networks of banks, conduits, agency lenders, pension funds, insurance companies, bridge and mezzanine lenders, and debt REITs for debt solutions. For equity, they connect clients with private individuals, family offices, private equity groups, hedge funds, and REITs.
3. Israeli Bond Issuance: Strategic partnership with Israeli bond underwriters to facilitate bond raises for US real estate developers. The Israeli corporate bond market offers low fixed interest rates between 3.5% and 7.5%, non-recourse corporate level debt, customizable payment schedules without need for intercreditory agreements, asset level mortgages, personal guarantees, liens or UCC filings.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels7 records

Core offering

Berko & Associates is a multidisciplinary commercial real estate advisory firm that brokers the purchase and sale of investment-grade commercial properties (multifamily, mixed-use, office, retail, hospitality, industrial) and structures and places debt and equity capital for real estate developers, sponsors, and owners. Its finance arm matches clients with lenders (banks, conduits, agency lenders, pension funds, insurance companies, bridge and mezzanine lenders, debt REITs) and equity partners (private individuals, family offices, private equity groups, hedge funds, REITs). A distinctive Israeli Bond Platform provides US issuers with non-recourse unsecured corporate debt at fixed rates of 3.5%–7.5%.

Product overview

Berko & Associates operates as a multidisciplinary commercial real estate advisory firm offering an integrated platform of investment sales, structured finance, and capital markets services. The core offering combines Investment Sales (facilitating property transactions across multifamily, mixed-use, office, retail, and hospitality segments) with Finance & Capital Markets (providing senior debt, structured finance/mezzanine, and equity/joint venture solutions). A distinctive differentiator is the Israeli Bond Platform, a strategic partnership enabling clients to access Israeli capital markets for non-recourse bond financing at competitive rates. The firm also maintains an affiliated brand, Astor Realty Capital, for direct lending and equity investments. An online Financial Calculator and searchable Property Listings provide digital self-service tools alongside the advisory services.

Differentiator

Problem solved

Functional benefit

Products and services

• Investment Sales Brokerage for the purchase and sale of commercial real estate properties across multifamily, mixed-use, office, retail, development sites, hospitality, and logistics/storage asset classes, serving developers, sponsors, and property owners in New York and national markets.
• Finance & Capital Markets Advisory Structured debt placement and capital solutions for commercial real estate, including senior debt, mezzanine financing, structured finance, and equity/joint venture arrangements. The team has advised on $2 billion in CRE financing transactions by matching clients with banks, conduits, agency lenders, pension funds, insurance companies, bridge and mezzanine lenders, debt REITs, family offices, private equity, hedge funds, and REITs.
• Israeli Bond Platform Strategic partnership with Israeli bond underwriters enabling US real estate developers and issuers to raise non-recourse, unsecured corporate debt in Israel at fixed interest rates between 3.5% and 7.5%, with customizable payment schedules and no intercreditory agreements, asset-level mortgages, personal guarantees, liens, or UCC filings required. To date, 35 US investment companies and 3 US finance companies have issued approximately $8B through this platform.
• Astor Realty Capital Affiliated company providing direct bridge and mezzanine lending, along with equity investment products across major US markets, complementing Berko & Associates' brokerage and capital markets advisory services.

Quantifiable outcome

• The Finance & Capital Markets Group has advised on $2 billion in commercial real estate financing transactions
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Eastdil Secured: Eastdil Secured is a leading private investment bank focused exclusively on commercial real estate, offering investment sales, debt placement, and structured finance. It is directly comparable to Berko's combination of investment sales + structured finance/capital markets advisory for CRE principals.
• Marcus & Millichap: Marcus & Millichap is a major investment sales brokerage for commercial properties, with specialization in middle-market real estate transactions across multiple asset classes. Directly comparable to Berko's investment sales focus on $15M-$150M deals.
• Walker & Dunlop: Walker & Dunlop is a leading commercial real estate finance company focused on multifamily lending, debt brokerage, and investment sales. Comparable to Berko's structured finance and capital markets debt placement work, with overlap in CRE debt advisory and capital raising.
• Meridian Capital Group: Meridian Capital Group is a boutique commercial real estate finance firm specializing in debt placement across all CRE asset classes with deep lender relationships. Highly comparable to Berko's Finance & Capital Markets debt brokerage model and network-driven intermediation.

Broad incumbents

• Newmark Group: Newmark provides capital markets, investment sales, leasing, and real estate advisory services with deep CRE financing capabilities. Comparable to Berko's debt/equity placement and investment sales capabilities but operates at meaningfully larger scale across many product lines.
• JLL Capital Markets: JLL's Capital Markets division is a global leader in investment sales, debt placement, equity placement, and structured finance for CRE. It competes with Berko across structured debt, equity, and joint venture placement, but at materially greater scale and with a broader service portfolio.
• CBRE Capital Markets: CBRE's Capital Markets group handles investment sales, debt/structured finance, and equity placement across all major CRE asset classes globally. A direct competitor to Berko's debt structuring and equity/JV placement work in the mid-market segment.
• Cushman & Wakefield: Cushman & Wakefield's Capital Markets team handles investment sales, debt placement, and structured finance across CRE sectors. Comparable broad-services overlap with Berko's CRE advisory platform.

Emerging players

• Aria Capital Partners: Aria Capital Partners is a mid-market CRE debt and equity advisory/brokerage firm focused on New York and select primary markets. Comparable to Berko as a smaller, sponsor-focused capital advisor in the same transaction-size band.

Regional players

• NAI Global / NAI Capital Partners: NAI Global is a network of commercial real estate firms providing investment sales, leasing, and capital markets services worldwide. Comparable to Berko's investment sales and capital markets offerings, but typically operating under a network affiliation rather than as an integrated boutique.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/berkoassociates

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Berko & Associates