NEW YORK CITY—Jason Bauer, founder of Crumbs Bakeshop, and New York City real estate veteran Avi Voda have launched Voda Bauer Real Estate, a full-service residential and commercial firm. And in an unusual business model, Voda Bauer is headquartered at WeWork, using the shared office space company's Fulton Center location, at 222 Broadway.
“Both Voda Bauer and WeWork embrace the concepts of community, innovation and openness,” notes Bauer. “Our progressive office environment is one that is unique to traditional real estate firms, and a breath of fresh air in today's ultra-competitive New York City marketplace.”
Other outside-the-box ideas being deployed at the firm include a revenue sharing model whereby agents share in the company's top line revenue, regardless of company net income. Voda Bauer also has an investment sales division that will focus on brokering off market transactions as well as sourcing equity for investment opportunities. Bauer also will be investing his own funds in investment and development opportunities.
Bauer adds, “As founder and CEO of Crumbs, my goal was to create an iconic brand while cultivating a workplace environment unparalleled in the food industry. Together with Avi, one of New York's top agents, we will create a successful real estate firm where corporate culture is as valued as agent productivity.”
Crumbs launched the cupcake craze that started a few years ago and hasn't really slowed down. The company started with a single location on Manhattan's Upper West Side in 2003, and grew to a nationwide chain of more than 75 stores in less than 10 years. In 2011, Bauer orchestrated the sale of Crumbs to a publicly traded company—leading to its listing on NASDAQ—while he remained a significant shareholder. That same year, he was awarded Ernst & Young's “Entrepreneur of the Year” award for his achievements. He plans to implement best practices learned from Crumbs in developing the Voda Bauer brand.
“Combining Jason's phenomenal success as an entrepreneur with my longstanding real estate experience and relationships enables us to build a company that will transform the way the industry operates,” adds Voda stated.
Previously, Voda was EVP at Douglas Elliman, having created the first team at the leading firm. With nearly 20 years in the industry, his experience spans residential and commercial real estate. One of his many areas of expertise is new development, which he oversees from the early stages of selecting and purchasing properties through marketing and selling the assets.
Focusing on properties in Manhattan and Brooklyn, Voda Bauer asserts that it fosters collaboration and best practices sharing among its agents and employees. All team members operate from a set of core values that emphasizes relationship building and individual growth through a cohesive program of professional development and career coaching.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
