The Real Deal New York

Compass snags BHS’ No. 2 manager in the Hamptons

Ed Reale to head up firm’s operation in eastern Long Island

October 13, 2015 11:46AM
By E.B. Solomont


From left: Ed Reale and Robert Reffkin

After recruiting heavily – and poaching from – competitors in New York City, startup brokerage Compass has snagged a top sales manager from Brown Harris Stevens to head its forthcoming Hamptons operation.

Ed Reale joined Compass as senior managing director of the Hamptons region, according to Compass.

Reale, who ran the Southampton, Sag Harbor and Westhampton offices for BHS, joined the brokerage in 2010 after a stint at Sotheby’s International Realty’s Southampton office. He has also worked as a real estate attorney on the East End.

Compass, which raised $50 million last month in a Series C round, inked a deal last month to lease the Corcoran Group’s former digs at 2405 Main Street in Bridgehampton. The building is just down the road from BHS’s Hamptons office.

Brown Harris Stevens is among the top five residential firms in the Hamptons, with 131 agents and $943 million in listings, according to a TRD ranking of top firms in June.

“With more than 25 years of real estate experience including leading top brokerages in the Hamptons, Ed is the perfect choice to help spearhead Compass’s new East End operation,” CEO Robert Reffkin said in a statement.

After its latest financing, Compass is valued around $800 million. The firm has raised a total of $123 million from investors, including Institutional Venture Partners, Joshua Kushner’s Thrive Capital, Founders Fund, Salesforce CEO Marc Benioff and Condé Nast parent Advance Publications.

In a statement, Reale cited Compass’ suite of tech-oriented tools as a reason for joining the firm. “I believe this tech-driven platform that Compass offers will truly change the industry out here,” he said.

As it seeks to grow nationwide, Compass launched a Boston office this month. The firm is also eyeing Atlanta, Chicago, Dallas, Houston, Los Angeles, Miami, Philadelphia, Phoenix, San Diego, San Francisco and Seattle.