Prudential Douglas Elliman has acquired the Acocella Group, a 23-year-old real estate company specializing in corporate relocations. Stephen Kotler, an executive vice president and director of new business development at Elliman, told The Real Deal that all of the Acocella Group’s 19 agents will now be working out of Elliman’s 485 Madison Avenue offices. Kotler, who handled the logistics of the deal, wouldn’t comment on the details of the acquisition or who initiated it, but said the move would help Elliman gain market share. “We felt that Peter and his group were a good addition to the company,” Kotler said. “We’re always looking for partnerships and acquisitions.” The Acocella Group is a brokerage specializing in corporate relocation, property management and short-term furnished housing. Kotler said he’s known the company’s president, veteran agent Peter Acocella, for years. Acocella was not immediately available for comment by press time, but a spokesperson said the firm was slated to move from its headquarters at 27 West 24th Street to Elliman’s offices today. Elliman has opened additional offices in the West Village and in Fort Greene, Brooklyn since the real estate downturn began.
Relocation firm relocates to Elliman
TRD New York /
Jan.January 29, 2010 12:28 PM