From the South Florida Market Report: Veteran broker Leonard Steinberg shocked many in the New York real estate world last year by ditching Douglas Elliman — after becoming one of its top agents during a 13-year run — for Compass, a New York City startup recently valued at a stunning $800 million. In August, Compass opened an office in Miami, where it plans to move to a more permanent space on Lincoln Road and swell its Florida roster to 100 agents.
Steinberg, 50, who now serves as the president of Compass but still works as a broker, said the chance to build a business was too good an opportunity to pass up. Compass granted him an equity stake in the firm, which today has 300 agents and seven offices. Washington, D.C. is its other market. [more]