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ewmark is dealing with a significant loss after seven years of service by co-president of debt and structured finance Dustin Stolly. According to reports, Stolly left the commercial brokerage on Friday without comment from either Newmark or himself. Sources indicate that he may be exploring opportunities at other firms or starting his own venture.

    Stolly's departure is notable given his significant contributions to the company. He formed a top capital markets team with Jordan Roeschlaub and facilitated $29.1 billion in loans, $5.18 billion in equity, and $1.3 billion in loan sales over the past year. Stolly was also instrumental in Newmark's push into raising equity for platform and programmatic joint ventures.

    Prior to joining Newmark in 2017, Stolly spent 10 years at JLL, where he closed $25 billion worth of capital market transactions and served as managing director of the brokerage's investment banking practice. His notable deals included a $500 million refinancing for Starwood Capital Group and a $150 million construction loan for the Dumbo office conversion of 10 Jay Street.

    Newmark has been aggressively expanding its commercial brokerage team, poaching top talent from rival firms like Cushman & Wakefield in February 2023. Despite Stolly's departure, the company remains committed to ascending the commercial brokerage ladder and competing with industry leaders.