Thomas Gallagher and Michael Litzner, leaders in New York real estate brokerage and owners of Century 21 American Homes, today announced a strategic acquisition on Long Island and Queens, New York.
The two co-broker owners will acquire the assets of Coldwell Banker Realty on Long Island, a leading residential brokerage operation in New York, owned and operated by Realogy Brokerage Group. Litzner and Gallagher will combine the newly acquired brokerage operations with the brokerage operations of its East Meadow-based company, Century 21 American Homes.
The combined operation, which accounted for nearly $2.7 billion in sales volume and more than 5,000 closed transaction sides in 2020, intends to do business under a newly launched banner of Coldwell Banker American Homes, as the newest member of the Coldwell Banker® global franchise network.
Together, they intend to operate on Long Island and Queens, New York boasting more than 1,350 affiliated independent sales professionals with 23 offices. The company will serve Queens, Nassau, and Suffolk counties. The combined organizations will be the second leading residential real estate company in sales volume and units sold in the region.
Co-Broker Owners Gallagher and Litzner will remain with the newly launched company in leadership roles.
Coldwell Banker Realty's Long Island operations accounted for more than $1.7 billion in closed sales volume and closed 3,255 transaction sides in 2020. At the time of the acquisition, the Coldwell Banker Realty Long Island operation will have 13 offices and more than 715 affiliated independent sales associates.
In 2020, Century 21 American Homes closed 1,885 transaction sides worth more than $947 million in total sales volume. The company has 10 offices and more than 650 affiliated independent sales professionals. As a long-time leader within the CENTURY 21® network, the firm is proud to continue to serve Brooklyn, New York under the banner of Century 21 American Homes.
Quotes:
"The unification of these two premier companies is a testament to our commitment to rapid growth and an example of the power of one Coldwell Banker. We are confident that with the superior support and services offered by the Coldwell Banker network, Michael, Thomas, and our affiliated agents are well-positioned to achieve market success and market share with this newly united company." - M. Ryan Gorman, president, and chief executive officer of Coldwell Banker Real Estate LLC
"Together with the Coldwell Banker brand, we will substantially grow our footprint on Long Island, which will greatly benefit our affiliated agents and ultimately their clients. We look forward to expertly and successfully guiding people home under the North Star brand for decades to come." - Michael Litzner, future broker-owner of record of Coldwell Banker American Homes
About Coldwell Banker Real Estate LLC
Powered by its network of over 96,000 affiliated sales professionals in approximately 2,900 offices across 40 countries and territories, the Coldwell Banker® organization is a leading provider of full-service residential and commercial real estate brokerage services. The Coldwell Banker brand prides itself on its history of expertise, honesty, and an empowering culture of excellence since its beginnings in 1906. Coldwell Banker Real Estate is committed to providing its network of sales professionals with the tools and insights needed to excel in today's marketplace and is known for its bold leadership and dedication to driving the industry forward. The brand was named among the 2021 Women's Choice Award® Most Recommended brands for customer experience and overall quality. Blue is bold and the integrity and values of Coldwell Banker give the Gen Blue network an unbeatable edge. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. To join Coldwell Banker Real Estate and unlock the possibilities of Gen Blue®, please visit www.coldwellbanker.com/join.
About Realogy Holdings Corp.
Realogy Holdings Corp. (NYSE: RLGY) is the leading and most integrated provider of U.S. residential real estate services, encompassing franchise, brokerage, relocation, and title and settlement businesses as well as a mortgage joint venture. Realogy's diverse brand portfolio includes some of the most recognized names in real estate: Better Homes and Gardens® Real Estate, CENTURY 21®, Coldwell Banker®, Coldwell Banker Commercial®, Corcoran®, ERA®, and Sotheby's International Realty®. Using innovative technology, data and marketing products, high-quality lead generation programs, and best-in-class learning and support services, Realogy fuels the productivity of independent sales agents, helping them build stronger businesses and best serve today's consumers. Realogy's affiliated brokerages operate around the world with approximately 190,700 independent sales agents in the United States and nearly 130,000 independent sales agents in 115 other countries and territories. Recognized for ten consecutive years as one of the World's Most Ethical Companies, Realogy has also been designated a Great Place to Work three years in a row and one of Forbes' Best Employers for Diversity. Realogy is headquartered in Madison, New Jersey.
Source:-https://www.prnewswire.com/news-releases/coldwell-banker-real-estate-to-expand-footprint-in-new-york-intending-to-use-the-coldwell-banker-american-homes-name-301278218.html
