Eastern Union Funding President and Founder Ira Zlotowitz took the commercial real estate mortgage industry by storm at the age of 21, when the budding entrepreneur had a break-out year. This was followed by three years during which he consistently increased already impressive production from the year prior.
After that period, he formed Eastern Union Funding, now one of the largest national real estate brokerages servicing the commercial sector and continued to exhibit unmatched growth, establishing a track record as an innovator who has helped define the industry.
In the course of his career Mr. Zlotowitz has earned extensive accolades, including being nominated in Crain’s “Forty-Under-40”, NJBiz’s “Forty-under-40”, and honored in Real Estate Forum’s “Tomorrow’s Leaders”.
He also holds a pile of plaques that recognizes his role in the rapid growth of Meridian Capital, which is where his story begins. In addition to aforementioned production, Mr. Zlotowitz is credited with integrating mastery of the cold call into that company’s business model, training several large teams of callers and personally launching new offices nationwide. This campaign, the success of which would repeat itself at Eastern Union, accomplished unprecedented growth for the company. A year prior to his first at Meridian, the company closed $300 million in loans. Just four years later, in his final year there, they had closed over $2 billion.
That brings us to 2001, when Mr. Zlotowitz formed Eastern Union Funding, together with Abraham Bergman, and where he continues to build off his influential status established from the get-go. Known for his innovation, grit and industry disruption, he has aggressively integrated technology and market data into Eastern’s business model that sped up the loan submission process by a factor of ten and developed relationships between the company and over 85 lenders. He recently took the commercial real estate market by storm by announcing capped fees for large deals. In recent times, owners went directly to lenders for larger deals but with the capped fees, they can reap the benefits of working with a top-level brokerage while also keeping their costs low.
Mr. Zlotowitz – having built Eastern into a national firm with over 100 real estate professionals and closed $2.5 billion in the last 12 months – is in his prime, and, as summarized in a recent Real Estate Weekly feature, Mr. Zlotowitz “set the company apart from its peers in an industry that isn’t exactly known for either cutting-edge technology or low fees.”
Commercial Mortgage Broker