Douglas Elliman

Last updated
Douglas Elliman
Company type Public
NYSE:  DOUG
Industry Real estate
Founded1911
Parent Montauk Battery Realty
Website www.elliman.com

Douglas Elliman is an American real estate company.

Contents

Douglas Elliman employs more than 7,000 agents and has 113 [1] offices in New York City and across the country. The company also has a number of subsidiaries related to real estate services such as Douglas Elliman Development Marketing, Douglas Elliman Property Management, DE Commercial and DE Title. The current president and CEO is Scott Durkin. [2]

History and overview

Douglas Elliman was founded in 1911, as a basement store at 421 Madison Avenue in Manhattan. [3] The company was sold to the Milstein family (Seymour Milstein and Paul Milstein) in 1989 and then again to Insignia Financial Group (now CB Richard Ellis) in 1999. [4] [5]

In 2003, Insignia sold Douglas Elliman to Montauk Battery Realty, an affiliate of Vector Group's New Valley LLC subsidiary. [6]

In 2012, the company dropped "Prudential" from its name, returning to its original 1911 name. [7] It has a partnership with London-based Knight Frank LLP for residential business. [8] Douglas Elliman affiliates include DE Property Management, DE Title and DE Capital Mortgage. [9]

In December 2021 Douglas Elliman was spun off from Vector Group. [10]

Regional branches

Notable brokers

Philanthropy

Douglas Elliman's philanthropic donations include the American Heart Association, Central Park Conservancy, the Gold Coast Film Festival, and Big Brothers Big Sisters of New York City. [20] [21] In 2013, the company donated $100,000 to the Southampton Hospital Foundation. [22]

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References

  1. ↑ "About - Douglas Elliman". www.elliman.com.
  2. ↑ "Management Team". elliman.com. Retrieved 18 March 2023.
  3. ↑ "Our Heritage" (PDF). Listing Presentation: Our Heritage. 2019. Retrieved 2023-05-11.
  4. ↑ "POSTINGS: Douglas Elliman Sold; Milsteins Buy Firm". The New York Times. 10 December 1989. Retrieved 21 January 2024.
  5. ↑ Holusha, John (29 May 1999). "Douglas Elliman Real Estate Brokerage to Be Sold". The New York Times. Retrieved 21 January 2024.
  6. ↑ "Insignia Financial Group Sells Residential Business to Montauk Battery Realty, LLC". RISMedia. March 18, 2003. Retrieved December 6, 2017.
  7. ↑ "Douglas Elliman officially drops "Prudential" from brokerage name". The Real Deal. November 19, 2012. Retrieved October 20, 2013.
  8. ↑ "About Knight Frank USA" . Retrieved 2023-05-11.
  9. ↑ "Douglas Elliman Celebrates South Florida Agents With 2012 Awards Ceremony At Cipriani". Yahoo! Finance. Archived from the original on 2013-11-04. Retrieved October 23, 2013.
  10. ↑ Bojnansky, Erik (31 December 2021). "Vector Group completes Douglas Elliman spinoff". www.bizjournals.com. Retrieved 21 January 2024.
  11. ↑ "Douglas Elliman Offices". Douglas Elliman Real Estate. Retrieved 25 October 2013.
  12. ↑ Anuta, Joe (23 October 2013). "Luxury housing market lifts Hamptons". Crain's New York. Retrieved 29 October 2013.
  13. ↑ Finn, Robin (2 October 2013). "Home Sales Rose in Tighter Manhattan Market, Report Says". The New York Times. Retrieved 27 October 2013.
  14. ↑ "Member Firms". www.rebny.com. Retrieved 20 July 2017.
  15. ↑ "New York Realty Giant Douglas Elliman Adds Flagship Office - Miami Today". miamitodaynews.com. 10 February 2011. Retrieved 20 July 2017.
  16. ↑ "Douglas Elliman Offices in Florida". Douglas Elliman Real Estate. Retrieved 24 October 2013.
  17. ↑ "Douglas Elliman Names Jay Philip Parker CEO of Florida Brokerage | MiamiUrbanist.com". Archived from the original on 2013-11-03. Retrieved 2013-10-31.
  18. ↑ Khouri, Andrew (31 July 2017). "Luxury real estate brokerage Douglas Elliman to purchase Beverly Hills rival Teles" . Retrieved 6 December 2017– via LA Times.
  19. ↑ "Luis D. Ortiz Joins Douglas Elliman". PR Newswire. Retrieved August 7, 2013.
  20. ↑ Bernstein, Fred A. (19 May 2011). "New Brokerage Donates Portion of Fees to Charity". The New York Times. Retrieved 21 October 2013.
  21. ↑ "Douglas Elliman Real Estate Sponsors Annual Gold Coast Film Festival In Support Of Local Arts And Cinema". KCTV. Archived from the original on 5 November 2013. Retrieved 21 October 2013.
  22. ↑ "Douglas Elliman Donates $100K to Southampton Hospital Foundation from Sale of Former Hospital Thrift Shop". Southampton Hospital. Archived from the original on 2013-11-02. Retrieved 22 October 2013.
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