From left: Shaun Osher, CEO of Core, and Reba Miller, the new managing director of sales for Core

Shaun Osher’s Core has acquired residential real estate brokerage R.P. Miller & Associates, a firm founded by industry stalwart Reba Miller in 1998, Core told The Real Deal today. Miller will take the role of managing director of sales at Core, the company said, overseeing the firm’s agents and resale business.

Osher confirmed that Miller would be bringing a few “select” members of her team at R.P. Miller & Associates to Core; “less than 10,” he said, declining to reveal their names. Susan Rubell, an agent at Miller’s namesake company based at 115 East 57th Street, said she and Lee Frankel would be joining Core, effective next week, but said she could not speak for anyone else. It was not immediately clear how many brokers R.P. Miller & Associates has in total, but the state Department of State’s website shows four licensed brokers in total.
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From left: Ron Moelis, CEO of L+M Partners, and the unit at 900 Fifth Avenue

L+M Partners CEO Ron Moelis has just purchased a pre-war apartment at 900 Fifth Avenue for $4.699 million, the New York Observer reported. The 2,400-square-foot co-op unit is on the 11th floor of the Lenox Hill building, between 71st and 72nd streets.

“The client had searched for a very long time and settled on what I thought was the right apartment for them,” said Reba Miller of RP Miller and Associates, who represented Moelis in the deal.

The unit was originally listed in 2009 for $5.9 million but the price was dropped at various points.

“It’s very, very, very French,” said Lauren Arpel of Town Residential, who represented the seller, listed on the deed as Adrianne Newman. L+M is responsible for recent developments in Brooklyn such as Northside Piers and PS90. [NYO] [more]

Following the news that Jonathan Miller is involved in a new venture to convert $1 billion in distressed condos, The Real Deal asked the city’s best-known appraiser whether this could impact the credibility of his widely read reports. After all, quarterly market reports prepared by Miller — the president and CEO of the real estate appraisal firm Miller Samuel — for Prudential Douglas Elliman, have become industry gospel in recent years. Now that he has an additional economic interest in the ups and downs of the market, does that amount to a conflict of interest? No, says Miller. Though he will have an equity stake in the venture, known as Condominium Recovery LLC, he will not be involved in the development end of the business. His job in the new company will be conducting appraisals of properties — his current bread and butter. “I’m still doing the same thing,” he said. “I’m not a developer — I’m on a team with a developer.” Miller said he has given the issue some serious thought. “This is something that I reviewed very carefully in the beginning,” he said. “Essentially, I’m brought in for valuation expertise. I’m not an operator. It’s no different than consulting with a developer.” Not everyone in the industry is so sure.  More [more]