Rose Associates has dissolved its long-standing relationship with Bellmarc Realty, which has handled apartment sales for the family-run company for nearly two decades.
Bob Scaglion, managing director of residential marketing at Rose, said the company is now beefing up its own sales division and handling its transactions in-house.
Scaglion said the companies had been working together for 16 years and that the amicable break came about two months ago. He said the two companies had a good relationship, but that Rose now has sales expertise internally and doesn’t need to farm out the services.
Bellmarc was first hired when Rose acquired a portfolio of sponsor co-ops and it did not have an in-house team to sell them. Scaglion said the company sold “a couple dozen” of Rose units last year.
Meanwhile, Scaglion said Rose’s sales division has already started taking on outside clients.
Rose was recently hired to handle sales for the Jack Parker Corporation’s New York City sponsor portfolio, which includes 200 sponsor apartments in seven Manhattan buildings. Those buildings include: 444 East 86th Street, 520 East 72nd Street, 305 East 40th Street, 225 East 36th Street, 305 East 24th Street, 10 West 15th Street and Three Sheridan Square.
Rose will also handle 400 sponsor apartments in 12 various Rose-sponsored conversions. Scaglion declined to say whether the company has deals with more firms to handle their sales.
Janice Silver, executive vice president of Bellmarc Realty and sales manager for the East Side office, said: “I enjoyed my long relationship with the Rose family and all the members of their firm during the 16 years I acted as their exclusive broker.” TRD