Michael Garr

The real estate community is mourning the loss of residential broker Michael Garr, founder of the boutique brokerage Garr and Co., which was acquired in 2009 by the brokerage Core. Garr passed away last night after a brief illness, a spokesperson for Core told The Real Deal today. He was unmarried and had no children.

“Last night, sadly, our family at Core, our industry, and the world, lost a very special man,” said Core CEO Shaun Osher, “an authentic man who was a leader in our business for many years. A man I was proud to be associated with, and honored to have as a part of what we have built.” [more]

Nikki Field of Sotheby’s International Realty at a listing for $7.5 million at 455 Central Park West

From the November issue: In the fall of 2008, real estate broker Michael Garr was approached by a former client who had bought a large apartment in a tony building the previous spring. The client, who worked in finance, needed to downsize to a less expensive place after the Lehman fallout. But there was a catch: Garr had to keep the plan a secret, because the client hadn’t yet told his wife he was facing financial difficulty. “He didn’t want to upset her and the kids,” said Garr, the founder of Garr and Co., which was acquired this year by the residential brokerage Core. “He wasn’t going to consult her until he had some options.” High-end brokers have always prided themselves on being discreet. But like Garr, many are finding that secrecy has become more important than ever. “Whisper listings” — properties that are for sale, but not officially on the market — are becoming more common, as sellers seek to avoid the perception that they are unloading properties because of financial distress. Also known as “quiet listings,” they are often among the most expensive properties in the city.