Corcoran consolidates in East Hampton

TRD New York /
Apr.April 27, 2009 04:01 PM
alternate textJanifer Jaeger is senior managing director for the Corcoran offices at 20 Main Street (center), which is closing, and 51 Main Street in East Hampton

One month after closing two East End offices, Corcoran is now consolidating its two Main Street offices in East Hampton, according to a Corcoran spokesperson.

All of Corcoran’s Main Street agents are working in the 20 Main Street office while the 51 Main Street office is renovated. They will move to 51 Main Street by Memorial Day if construction remains on track, the spokesperson said.

Corcoran’s Web site lists 64 agents in East Hampton.

Corcoran closed its 57 Hampton Road office in Southampton and its office at 28735 Main Road in Cutchogue on the North Fork in late March. In February, the company closed its 96 Main Street office in Sag Harbor, moving the agents to the nearby office at Main and Madison streets.

The news comes on the heels of reports that East End foreclosures are up and homes are selling for steep discounts at auction.

Corcoran still has 11 offices in the East End, according to the company’s Web site.

Corcoran has used office closings to save costs amid the downturn. In Manhattan, the company closed its Harlem office and downsized its 660 Madison Avenue corporate headquarters.

The redundance of Main Street offices in East Hampton was due to acquisitions of local companies’ offices over the past several years, the spokesperson said. Corcoran bought up Allan M. Schneider & Associates and other local firms.

Prudential Douglas Elliman and Brown Harris Stevens have multiple offices in the Hamptons.

Rick Hoffman, Corcoran’s regional senior vice president for the East End, and Janifer Jaeger, senior managing director for East Hampton, were not immediately available for comment.

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