"For some time [the company] has been thinking about how and when to build the platform in New York. It's a mandate from Bob Sulentic, the chairman, and the board to really focus growing the tri-state area," Bernstein explains. "There is no question that in order for Trammell Crow to continue to grow and to enjoy profitability, the New York tri-state area has to be a big part of the picture."

His first order of business is to create a fully integrated services platform here, which will include building a brokerage platform, building investment sales and providing a bundle of integrated services to the company's corporate and strategic accounts. Bernstein adds that he will continue to provide advisory and brokerage services to the strategic accounts he has built over the past 15 years.

"Simply said, my role will be split between providing the leadership and the vision in New York, to grow the Trammell Crow office and to grow the platform in the tri-state area. In addition, to continue to grow my brokerage practice," he says.