Bellmarc began in 1979 when the two principals, Marc Broxmeyer and Neil Binder, met at a real estate luncheon. In the course of conversation they each became aware that the other had valuable skills to create a successful business.
Marc was a practical businessman. He had grown up in the real estate business and had owned and managed property since he was eighteen. Neil had a CPA and a MBA in finance and had been involved in creating real estate partnerships. By the end of the lunch, they agreed to look for a real estate deal to enter into together.
They purchased a property together in Bell Harbor, Queens, and decided to use the name Bellmarc. However, economic conditions at the time did not favor real estate investing. New York City was on the verge of bankruptcy, oil prices skyrocketed with the Arab oil embargo and interest rates were at towering levels. They started to search for new opportunities and decided that real estate brokerage offered them the best direction.
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