Newmark Welcomes Industry Veteran Richard Marchitelli to Lead Valuation & Advisory’s Litigation Support Practice

September 23, 2024 9:00 AM

Newmark is pleased to announce the addition of Richard Marchitelli MAI, CRE, a seasoned expert with over 45 years of experience, to its Valuation & Advisory practice. In his role as Senior Managing Director and Litigation Support Practice Leader, Marchitelli will collaborate with Senior Managing Director Raymond Cirz, MAI, CRE to expand and lead the specialty practice for the business line. This practice, comprised of nearly 15 experts across the U.S., concentrates on applied research, property economics, unique valuation challenges, complex litigation, damages theory and real estate industry standards and practices nationwide.

"As we adapt to the market cycles, Rich's experienced leadership is a tremendous asset to both V&A and the firm at large," said John Busi, MAI, FRICS, President, Valuation & Advisory. "We've navigated through several cycles together, and he's proven to be best in class over and over again. His appointment enhances our ability to provide another layer of premium services and comprehensive solutions. I am thrilled to welcome him to Newmark."

Marchitelli brings expertise in complex litigation matters related to challenging or unusual property disputes. With a robust background in preparing expert reports, he has tackled a wide array of legal disputes, including those related to economic damages, breach of contract and fiduciary duty, toxic torts, construction defects and delays, shareholder disputes, class certification and lender liability. Marchitelli is qualified as an expert witness in various courts and has provided testimony in arbitration proceedings at the prestigious International Centre for Settlement of Investment Disputes in Washington, DC. Before joining Newmark, Marchitelli honed his skills at PricewaterhouseCoopers and Cushman & Wakefield, where he led the Litigation Support Practices.

"Newmark's dynamic Valuation & Advisory practice has experienced such positive momentum and growth over the past several years," said Marchitelli. "My commitment to delivering exceptional service and insights to clients aligns with Newmark's values, and I look forward to collaborating with the talented team to further enhance our market position and expand our service offerings."

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark's company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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