Halstead moves into Connecticut market in Darien
May 27, 2009 11:00PM By Candace Taylor
David and Holly Hawes will help run Halstead Property Wheeler
In yet another aggressive bid for market share, Halstead Property is expanding into Connecticut, acquiring Darien-based brokerage Wheeler Real Estate.
Wheeler, founded in 1927, has one 55-agent office at 671 Boston Post Road in Darien and serves the surrounding towns of New Canaan, Rowayton and Norwalk. The new company will be known as Halstead Property Wheeler.
In an environment where other firms have been closing offices, Halstead has taken advantage of the downturn to expand aggressively. In October, Halstead, owned by Terra Holdings, opened its first out-of-state office with a new branch in Hoboken, N.J. The company also recently opened a new office in Boerum Hill, Brooklyn. Halstead has nine other offices in New York City -- including one in Harlem, where the Corcoran Group and Warburg Realty recently closed their offices -- and one in Hudson, N.Y.
Privately held Halstead did not disclose the price of the acquisition.
Halstead's Connecticut outpost will be run by former Wheeler owners Nancy Dauk, husband-and wife-team David and Holly Hawes, as well as Wheeler broker -- but not owner -- Edward Saunders, who will serve as COO and director of sales for the Darien office.
This is not Wheeler's first brush with a larger company. In 1989, Wheeler became associated with Prudential Real Estate Affiliates, a real estate brokerage franchisor with some 1,900 independently owned offices in the United States and Canada, including New York City's Prudential Douglas Elliman.
During that time, the firm was known as Prudential Wheeler Real Estate. But in 2006 it dropped its affiliation with Prudential Real Estate and returned to its original name, Wheeler Real Estate.
David Hawes said he became familiar with Halstead because the two companies are both members of Leading Real Estate Companies of the World, a global network of some 700 real estate firms.
He said the connection with Halstead made sense because Darien is a bedroom community for New York City.
"They had a desire to come to Connecticut and we wanted a better connection to New York," he said. "We see the clients coming from New York and wanted to make sure we were getting more than our share."
Darien has been hard hit by the nationwide real estate slump, with sales falling 44 percent in 2008 from the previous year, according to Boston's Warren Group, which tracks New England real estate sales. Two hundred and thirteen Darien homes sold in 2008, down from 380 the previous year. Prices dropped roughly 3 percent, to $1,285,000 from $1,330,000 in 2007.
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Comments
Anonymous
Brilliant move, absolutely brilliant. You certainly have the pulse of the market in CT and amazingly of Darien, which is very hard to understand unless you are a real insider. Many Realtors in Darien are very unhappy and dissatisfied with their brokerage companies and your coming into Darien could give an alternative, especially to the top producers, of a hopeful, good company for which to work. Hopefully, you won't make the mistakes that Douglas Elliman made when it came into Darien. Too bad you have left the same owners and management in place. Perhaps you will find better people later to manage the office. You won't find any problem recruiting many good brokers Congratulations on a brilliant move. It is really fun and exciting to watch smart companies at work and realize that there are outsiders that can be so well informed and sharp. Happy to see you come into Darien. Congratulations again!!!!
Comment #1 Posted By: Anonymous 05/28/09
Anonymous
Another real estate company expanding their ignorance. Where's the news in this?
Comment #2 Posted By: Anonymous 05/28/09
Anonymous
Does Darien even sell anymore?
Comment #3 Posted By: Anonymous 05/28/09
Anonymous
Darien is dead as a doornail, as is most of CT.
Comment #4 Posted By: Anonymous 05/28/09
Anonymous
#3 no, they don't...and # 4..you are both right on...and Wheeler doesn't have GREAT agents. Its there EGOS that are great ....
Comment #5 Posted By: Anonymous 05/28/09
Anonymous
#1 your a complete moron....
Comment #6 Posted By: Anonymous 05/28/09
Anonymous
I think that a move into Darien is a good thing. The only independent left is Kelley Associates and they are vulnerable as they don't have presence outside Darien.....
Comment #7 Posted By: Anonymous 05/28/09
Anonymous
Are you kidding, #7? The only salvation from idiocy that consumers have is from independents. LOOK at what these people say on sites like this, and others. They really need to stay away from the media, because they sound like morons, every time.
Comment #8 Posted By: Anonymous 05/28/09
Anonymous
Wheeler was a unique firm, but once you get taken over by a large firm you lose lose that. Big Brother is not always the answer, even in these times.
Comment #9 Posted By: Anonymous 05/28/09
Anonymous
The Wheeler name and the Wheeler facility were great. I The loss of another independent office is sad in my opinion. Yes, the larger companies have alot of flash to offer but guess who pays for it. The Realtor. The Realtor is better off in many cases with the independent firm. Give me a hard working Realtor who knows the market, and listens and gets results, that is where I go to sell my homes
Comment #10 Posted By: Anonymous 05/28/09
Anonymous
Everyone knows Halstead is being chased out of NY by the other families...er brokerages. HA HA HA HA AH HA HA
Comment #11 Posted By: Anonymous 05/28/09
Anonymous
Incredibly smart move by Wheeler! The connection with NYC and the power of HP's marketing capabilities with cultivate the leading office in Darien.
Comment #12 Posted By: Anonymous 05/28/09
Antonio G. del Rosario
I've sent so many buyers to Conn for those burgeoning fams fleeing Manhattan for bigger spaces and priv backyards. My wife and I love NYC too much our children just have to keep sharing Central Park as their backyard. Diane Ramirez is smart to acquire Wheeler at this point in time. She can get a better deal. A recession is a terrible thing to waste. Antonio del Rosario, President & Partner, A.C. Lawrence Real Estate, 60 Madison Avenue
Comment #13 Posted By: Antonio G. del Rosario 05/29/09
Anonymous
Hey #11, saw the Top Residential Firms article in the May Real Deal and it showed the 'top' firms closing offices, while others are expanding...hmmm.
Comment #14 Posted By: Anonymous 05/29/09
Anonymous
As a now former CBHK broker with an unbiased opinion, I have to say that Diane Ramirez and Halstead are playing the real estate game a little differently than the rest, of late, and I only just started to see that recently. In the past they just hovered.
Comment #15 Posted By: Anonymous 05/29/09
Anonymous
Not buying this whole "synergy" idea one bit. Wheeler has seen significant declines in marketshare since they are masters at taking overpriced listings and pacifying their sellers by spending ridiculous amounts of money on ineffective print advertising. I hope they don't change a thing. I love getting their expired listings on my own terms!
Comment #16 Posted By: Anonymous 05/29/09
Anonymous
How interesting to read the bitter competitiveness associated with real estate firms.... I don't believe anyone!
Comment #17 Posted By: Anonymous 06/11/09