As the largest brokerage in New York City, Douglas Elliman is seen as something of a bellwether for the real estate industry. And judging by the company’s third quarter performance, the market in New York is on a serious roll.
Douglas Elliman closed deals worth $5.2 billion during the quarter, up from $4.5 billion a year earlier, the firm reported October 30. That pushed Elliman’s revenue for the quarter up to $153.2 million, compared with $133.4 million last year. [more]