Homestead leaves home -- for good
January 08, 2009 01:30PM By Candace Taylor
900 Eighth Avenue
Homestead New York, the four-year-old boutique sales and rental brokerage firm, is closing up shop.
Danny Shamooil, co-owner and co-founder of Homestead, told The Real Deal that the company ceased operations before the New Year and is in the process of completing the paperwork required to dissolve the business. The Web site is no longer operational, he said.
Shamooil and co-founder Eli Adahan decided to end their partnership after a series of disagreements this fall, Shamooil said, combined with pressure from the dour economic climate.
"The poor real estate market definitely played a small role," Shamooil said, adding that while sales had slowed after September's Wall Street meltdown, a few large deals had helped sustain the company.
Homestead had roughly 35 agents by the time it closed, said Shamooil, who plans to stay in real estate.
Homestead started with an office at 102 Fulton Street, specializing in the Financial District, and later expanded with offices on the Upper East Side and in Midtown. The Midtown office, at 900 Eighth Avenue at 54th Street, was the only one still open at the time of the closure, he said.
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Comments
Anonymous
I wonder who is next?
Comment #1 Posted By: Anonymous 01/08/09
Anonymous
Good riddance. Some of the sleaziest brokers around.
Comment #2 Posted By: Anonymous 01/08/09
Anonymous
can I ask why on every post about a brokerage office closing someone posts www.nestseekers.com? It's almost creepy...
Comment #3 Posted By: Anonymous 01/08/09
Tot-Eli-adhand!
defective individual.
Comment #4 Posted By: Tot-Eli-adhand! 01/08/09
From what I've heard its more the partnership disagreements than the slowing economy which contributed to this explosive break up. Danny has a much better chance of making it in the long run.
Comment #5 Posted By: 01/08/09
Anonymous
no surprise here
Comment #6 Posted By: Anonymous 01/08/09
Anonymous
Corcoran hopefully is next, not one of their brokers can actually run a comp and the majority of them are just mouth breathing retards.
Comment #7 Posted By: Anonymous 01/08/09
Anonymous
I'm amazed they lasted this long.! This is the firm that hired a programmer to run repeating/fake sales ads or ads they did not have permission to advertise on Craigslist. Then they did the same thing on NYTIMES.COM and this time they got caught and were kicked off the site These guys made it harder for us brokers who tried doing things the right way ..glad to see them close! Adios Homestead!!
Comment #8 Posted By: Anonymous 01/08/09
Anonymous
That whole firm was a cancer, nice to see that the plug has been pulled. YOINK !
Comment #9 Posted By: Anonymous 01/08/09
Anonymous
I hear Sotheby's auction house is kicking down the door for that art! Who's to thank for that! ;)
Comment #10 Posted By: Anonymous 01/08/09
Anonymous
Goodbye to a real estate powerhouse. If they arent safe nobody is... I thought Douglas Elliman would cave first.
Comment #11 Posted By: Anonymous 01/08/09
Anon
#8 and #9, I could not agree more!
Comment #12 Posted By: Anon 01/09/09
Anonymous
i actually some of their people a lot. seemed to know their stuff. except that guy danny, which i presume is a big reason they folded.
Comment #13 Posted By: Anonymous 01/09/09
Anonymous
Check out the broken English on that last post. Hmmm I wonder who wrote that? Good thing this is an anonymous place to post!
Comment #14 Posted By: Anonymous 01/09/09
Anonymous
"The poor real estate market definitely played a small role," Shamooil said Obviously, these 2 hated each other...
Comment #15 Posted By: Anonymous 01/09/09
Anonymous
What's next for these 2? I guess Eli was too busy to be quoted for this story. He must be busy MAKIN' THAT MONEY!!!
Comment #16 Posted By: Anonymous 01/09/09
Anonymous
Word has it their "impeccably dressed" with "Warren Buffet-like" business sense of an ex CEO has starting his own company after catastrophically ruining this one...now that is the biggest joke of all!!! All you agents out there looking for work...prey he calls you!
Comment #17 Posted By: Anonymous 01/09/09
Anonymous
actually eli was the only one in there that knew how to sell. he might have been a bit eccentric, but he was creative, got the job and knew how to close. danny just sat there and looked good.
Comment #18 Posted By: Anonymous 01/09/09
Anonymous
I thought their names were Dumb and Dumber. They were the sleaziest of sleaze and got everything they deserve.
Comment #19 Posted By: Anonymous 01/09/09
D.O.
By the way, by the way...danny is a great guy and a great businessman. All you player haters gfy! I heard this Eli guy is a real sleeze ball. That's an Israeli for yah. I want to take this opportunity to wish danny the best of luck in everything he does. I have no doubt that he will revel in all his challenges. As for all you jealous people, go get a life khahar koseh!
Comment #20 Posted By: D.O. 01/09/09
Anonymous
Blah blah blah! Why is nobody talking about David freakin' Yarden and the role he played in the demise of Homestead?!? Can I get an Amen?!? And now this jackass is opening his own office? Are you f'ing kidding me?!? How does one steal from oneself? He'll find a way!
Comment #21 Posted By: Anonymous 01/09/09
Anonymous
Amen! That guy was (is) a walking talking joke
Comment #22 Posted By: Anonymous 01/10/09
Anonymous
yarden was compotent even if he was a bit sleazy like the rest of them. although i still dont understand why anyone would open an office in this environment.
Comment #23 Posted By: Anonymous 01/10/09
Anonymous
I'm surprised this seemingly non newsworthy boutique shutting has so many comments. How did one small office attract all these personal comments? Is everyone here a former employee or something? I've never even heard of Homestead until now.
Comment #24 Posted By: Anonymous 01/11/09
Anonymous
Homestead actually had 3 retail offices and about 80 agents at one point. I cannot speak for all, but when a company falls as far as they did as fast as they did, people are going to come out of the woodwork to comment...how could this happen? Who was responsible?
Comment #25 Posted By: Anonymous 01/11/09
A comments from the Domain comment page....
CONCERNED!!!! This is the same crap as Homestead...see their article a few days ago here....These companies were all started by selfish, and stupid agents who were no more than just lucky. Getting in the business when the internet changed this business. They realized they could "bait and switch". Lie, cheat, steal from their agents, embarrass themselves and the business, does anyone care? NYLS (New York Living Solutions) is now becoming the face of this scum portion of our industry. Do a craigslist search for sale downtown. It is DISGUSTING!!!Until these companies are forced to do business properly, all of us doing business correctly will suffer professionally, and financially.
Comment #26 Posted By: A comments from the Domain comment page.... 01/11/09
Anonymous
You hit the nail on the head #26. But remember where it all started: These companies were all started from agents that got their start in this business at Citi-Habitats, where this culture of lying, cheating, and stealing was encouraged to the fullest! Then the agents left and took it to the next level by starting their own operations. Citi had created their own monsters with the students becoming the teachers. It's bittersweet justice to see that they're all getting what's due now, with the mothership (Citi) braced for the hardest fall of them all! The market is finally correcting itself...of more than just overpriced housing and when it's all said and done, only the strong will survive, not the ones who were just in it for a fast buck!
Comment #27 Posted By: Anonymous 01/11/09
Anonymous
that guy eli reminded me of shvo.
Comment #28 Posted By: Anonymous 01/11/09
Jay
Homestead wasn’t a good place to work. Don’t think they should have been in business for as long as they were because they had no clue on how to run a business. Danny was out for the Money and David Yarden was an Asshole. They only cared about the look of there business and could have less about creating a stable foundation for the long term business. As far as Eli, he was the most decent one, but when you’re working with two ASSHOLES this is the out come. Glad to see the f***ers go.
Comment #29 Posted By: Jay 01/11/09
Anonymous
I wonder what the sleazy guy who used to sit next to the window in the Greenwich locations is doing now? Probably the same
Comment #30 Posted By: Anonymous 01/11/09
Anonymous
#28......Eli reminded you of Shvo??? Are you serious?? Shvo is a salesman, and a business man....Turns out now not the best, but all Eli is a craigslist reposting freak. If you really knew both people (which you couldnt possibly)You would never say that. I knew Eli for 1 very long year. Every day he'd say "are you on the first page?" Aside from that I didnt know he spoke much English. Think before writing such nonsense.
Comment #31 Posted By: Anonymous 01/11/09
Anonymous
A lot of personal stuff on this thread, not a lot of substance. Seems like half the commenters are on one partners' side and the other half on the other. I guess it will be interesting to see what these 2 guys end up doing with themselves. Just judging by Shamooil's statements for this story I would say he's not a very good businessperson. Eli sounds a bit shady, but who isn't in this biz?
Comment #32 Posted By: Anonymous 01/12/09
Anonymous
What exactly do you mean personal stuff #32? Did you think somehow Eli and Danny were going to come on here and give their take blow by blow of how this company failed? That is what this forum is for......If you have any knowledge of this situation and you wish to share, you do just that. 99% of all the comments on this whole website are personal. Who do you think you are preaching to? And as for "Eli is a bit shady, but who isn't in this biz" Well that speaks volumes as to you personally. looks like you need to find another line of work.
Comment #33 Posted By: Anonymous 01/12/09
Anonymous
I am really shocked and whorified by the dispicabilability of all of these re-marks!
Comment #34 Posted By: Anonymous 01/12/09
Anonymous
I am shocked at the words "whorified" and "dispicabilability" wait....no...I'm amused.
Comment #35 Posted By: Anonymous 01/12/09
Anonymous
Comment 35--There is no reason to be disrespectable
Comment #36 Posted By: Anonymous 01/12/09
bravo, 36, bravo I offer you a "whorifying" L.O.L.
Comment #37 Posted By: 01/12/09
Anonymous
It would appear that neither #36 nor #37 possess the knowledgability of the situation or the real estate market to make an informed comment or statement. Return to your neutral corners and keep it clean!
Comment #38 Posted By: Anonymous 01/12/09
Mr. Jack Meeoff
Everyone is getting re ELI ADHAN D !
Comment #39 Posted By: Mr. Jack Meeoff 01/12/09
Anonymous
Can we start spreading the word like wildfire that Blackstone Properties is totally shady and lies? They say in their job ads that "a typical Blackstone agent makes $150k-$200k in their first year". What BULLSHIT. They should have said $15-20, that is more accurate. Plus, the name "Blackstone Properties", as if they are THE Blackstone! How is that allowed? So deceptive. And they call themselves "Power brokers" but they advertisde open listings on Craigslist with titles like "WHOOHOO! WHOOHOO!". They are idiots, let's flag everything they do. If you're looking for a job don't fall for their BS!!!
Comment #40 Posted By: Anonymous 01/12/09
Anonymous
If you work at a company where you chase open listings, you're going to go broke. Homestead was one, and #40, Blackstone is one also. To survive in rentals you must have multiple exclusives each month to rent. Very few rental companies offer this and the rest will soon go out of business or lose all their agents, just like Homestead, who is only the beginning of rental brokerages that will close.
Comment #41 Posted By: Anonymous 01/12/09
Anonymous
Blackstone, New York Living Solutions, Domain, Homestead, Urban Sanctuary,....on and on and on....are all one and the same. They were all started by young Isreali's 23-29yrs old with no ethics whatsoever. Whats even worse, is New York Living Solutions was started by former Homestead agents! Bet most of you guys didnt know that. I was at NYLS for 6 months, boy did they hate Homestead. Why? because they would all get their clients exactly the same way....Craigslist and NY TIMES. Where would these "companies" be without them? They will follow Homestead out the door just like they followed them in.
Comment #42 Posted By: Anonymous 01/12/09
Anonymous
I worked at Homestead for a little while, and to be quite honest it was actually a great place to work. Danny and Eli are very different types of managers so naturally some will like one and dislike the other and vice versa. I always thought they complimented each other well, but I guess that didn't last long. They both have strong personalities, it happens. As for shadiness, sleaziness, Israeliness or whatever else you want to call it, I didn't experience it there. I left for a different opportunity and not because I was unhappy. I wish everyone from Homestead success.
Comment #43 Posted By: Anonymous 01/12/09
much smarter businessman
Will you three please stop writing about one another. This is why the company fell apart to begin with.
Comment #44 Posted By: much smarter businessman 01/14/09
Truth
If your SCARED, and you wan't to avoid criticism in life, then you should say nothing be nothing and do nothing! stay home and keep rubbing them out, drop a load on em! Keer to koonet!
Comment #45 Posted By: Truth 01/15/09
Anonymous
#45.... English please!! I don't speak Wanker....
Comment #46 Posted By: Anonymous 01/15/09
Anonymous
If 2 thiefs decide to work together, how long before they try and steal from one another? A thief is a thief is a thief is a thief.
Comment #47 Posted By: Anonymous 01/15/09
Anonymous
answer to 46 is 4 years lol
Comment #48 Posted By: Anonymous 01/15/09
Anonymous
i heard they were lovers. they broke up thats y they closed down
Comment #49 Posted By: Anonymous 01/15/09
Anonymous
whats danny gonna do in real estate he never closed a deal eli was the deal maker
Comment #50 Posted By: Anonymous 01/15/09
Anonymous
You're all pathetic. Redirect this energy into new endeavours. The most impressive people are those who work hard, quietly make a fortune, and modestly do good things with it. They don't waste time and energy bickering or reading this list of comments. Good luck to all.
Comment #51 Posted By: Anonymous 01/16/09
Anonymous
WOW! #51 is so right. I hear a lot of prior employees are getting hurt in the process of the company dissolving. The two principals should be men in the end and worry about the small people getting hurt - this is the most admirale, and to quote #51, "impressive" thing that could result from this situation.
Comment #52 Posted By: Anonymous 01/16/09
ME
DANNY AND ELI YOU DID A GREAT JOB HAD A GREAT RUN. GOOD LUCK IN LIFE AND ALL THE BEST TO YOU BOTH.
Comment #53 Posted By: ME 01/17/09
Citi Corp Office
To all on this board, especially Danny and Eli, I fired you two from Citi. How did that feel? I wish you lots of success in your new ventures! Chris Lopsided.
Comment #54 Posted By: Citi Corp Office 01/19/09
Anonymous
danny is such a child. so immature. u know it.
Comment #55 Posted By: Anonymous 01/19/09
Anonymous
Homestead failed for various reasons. Aside from the way they operated their business, their partnership was fragile. Danny and Eli know how to make money, but they didn't know real estate. If they did, they would have trained their agents much better and ran their brokerage operation properly. From constantly posting fake and blind ads to hiring people with no training or in fact not being licensed. Getting kicked out of buildings by landlords themselves, one of them Moinian. Not paying their agents on time or sometimes at all. Eli is savvy but not smart. Danny is backed by other money, his not smart either. If they were, we wouldn't be reading about them. The upside about this whole real estate downturn, is that it'll rid out all the brokers that are simply UNEDUCATED in REAL ESTATE!
Comment #56 Posted By: Anonymous 01/21/09
Anonymous
#56 "Eli is savvy but not smart" That has to be one of the dumbest lines I have ever heard. That doesnt make any sense. For one....Eli is savvy? The less you write the better, we all know who you are. Please, go back to spamming craigslist, thats what you and your soon to be defunct company do best at NYLS. You have enough "haters" to deal with on your lovely p.r. page.
Comment #57 Posted By: Anonymous 01/22/09
Anonymous
they smelled funky
Comment #58 Posted By: Anonymous 01/22/09
Anonymous
what grade are you all in? this is grown up world do something more productive. Everyone here is a email tough guy since you are all anonymous. Did anyone have the balls to confront any of these rogue company's on the business practices? Did anyone quit when they realized who they were working for? So All of you shut the f@#k up you sound like winny little baby's. Get a life do a deal and move on with yourselves.
Comment #59 Posted By: Anonymous 01/23/09
Anonymous
Continued from #59 And by the way if you need to know who i am........ Keep an eye out for Prime NY INC coming to your neighborhood soon. Peace goyams
Comment #60 Posted By: Anonymous 01/23/09
Anonymous
is Eli even a broker retards
Comment #61 Posted By: Anonymous 01/23/09
Anonymous
and Yarden was never a partner he also isnt even a broker. How would he pass the test anyway he cant cheat with his Israeli mark the pencil method. So all of you get a clue on whats going on in your business you havent the slightest idea what your saying. The only broker is danny. check the dos. and danny wont sign off on yarden who hasnt even sold a painting never mind real estate. Eli cant read english so the only co that will rise from the rubble called homestead might be mr. danny.
Comment #62 Posted By: Anonymous 01/23/09
E
Hey Danny, We all know your the money man and Eli is the broke dude and David was the destroyer. Simple put I read the comments and you have a lot of ex-employees/agents just not liking you. Danny will survive his paper is long as for the other two good riddance. Truth be told this real estate game has two many dumb agents and the dos is responsible for allowing it. If Homestead failed lookout for group of small companies to run dry soon.
Comment #63 Posted By: E 01/26/09
E
Hey Danny, We all know your the money man and Eli is the broke dude and David was the destroyer. Simple put I read the comments and you have a lot of ex-employees/agents just not liking you. Danny will survive his paper is long as for the other two good riddance. Truth be told this real estate game has two many dumb agents and the dos is responsible for allowing it. If Homestead failed lookout for group of small companies to run dry soon.
Comment #64 Posted By: E 01/26/09
Anonymous
What goes around comes around. When Eli left citi he went out of his way to screw people over, even former co workers. Lets see which of the smaller firms is next.
Comment #65 Posted By: Anonymous 01/27/09
Anonymous
I think everyone with something bad to say is still sugar coating it. They are everything that was said and worse. I hope we have heard the last of them.
Comment #66 Posted By: Anonymous 01/27/09
Rami Ferrari & Jason B.
PRIME NY are you opening up a steak join? Nice name chachee!
Comment #67 Posted By: Rami Ferrari & Jason B. 01/29/09
Anonymous
Jeesh!
Comment #68 Posted By: Anonymous 01/29/09
Anonymous
sheesheemeekoomidon, listen to how your talking.
Comment #69 Posted By: Anonymous 01/30/09
TE
Korkeenet, don't let these wannabes that never did anything with themselves get you down, you did a good job and hopefully had fun doing it. I still love you and hope the best for you dude.
Comment #70 Posted By: TE 01/30/09
shvo
Stop calling me, cursing me, and hanging up! Michael Shvo
Comment #71 Posted By: shvo 01/30/09
Anonymous
ISNT HOMESTEAD A STEAK HOUSE AND NOW PRIME,OK DANNY WE GOT YOUR POINT.I TAKE MINE WELL DONE.
Comment #72 Posted By: Anonymous 01/31/09
Anonymous
You get what you give in life! Simply put what Danny and Eli should do is honor each and every agents contract agreement and pay out the commissions owed to these agents. Ethical or unethical or however/whatever these agents did they deserve there commissions. These two have a lot of redeeming to do in the industry. As for Yarden stick to art and your ex-wife's alimony check! Your a cancer and hopefully the industry won't allow you to spread. As for the ex-homestead agents good luck and best wishes!
Comment #73 Posted By: Anonymous 02/05/09
Anonymous
This is not unexpected. The reality is that there were, and still are, too many brokers in the system. Most rental brokers will have to find a new career. These low-end shops that don't even own their own listings will all fold.
Comment #74 Posted By: Anonymous 02/15/09
Anonymous
I worked for these two guys for 5 months in 2005. I remember them leaving in December 2005 for their Brazil vacation without writing ONE CHECK OWED to any agent before the Christmas holidays while they were sitting on about $150,000+ in OP's!!!!!! They were SLEAZE to the max! I finally got my last check the next February! All the good agents left at the same time!!! There is too much DISHONESTY in NYC Real Estate. Also, now as an independent broker, I refuse to spend $900 to join REBNY, because just like the American Bar Assoc. and the American Medical Assoc., they REFUSE to police their members and GET RID OF THE SLEAZE!!!! I can take a nice weekend vaction on $900! "Don't cry for me (Danni or Eli), Argentina!"
Comment #75 Posted By: Anonymous 02/19/09
Anonymous
He already started running that place into the ground, Eli brings a new meaning to the word SLEAZE. Somebody send him back to Israel.
Comment #76 Posted By: Anonymous 08/13/09
Anonymous
Wow, I used to work for Homestead. But only for a few weeks. I didn't know much about Eli or Danny to say they were sleazy or just two great guys. I'm just suprised to see Homestead close and see how so many people disliked the two. Maybe its best I left when I did.
Comment #77 Posted By: Anonymous 11/21/09