East End brokerage Town & Country Real Estate acquired boutique Westhampton Beach brokerage Phillips Beach Realty yesterday, marking the latest move in a broader expansion plan for the eight-office firm.
Fourteen Phillips Beach agents are joining Town & Country’s Westhampton Beach office at 132 Main Street, doubling the number to around 28 as a result of the acquisition.
Desiderio, who declined to comment on how much her company paid in the buyout, said that expanding her company’s reach in the Westhampton Beach area has been a top priority.
“I personally and professionally believe the Westhampton Beach office serves a wider surface area than other offices,” Desiderio said.
Desiderio said that she also plans to expand her company’s Southampton and East Hampton offices in the next year, adding roughly 10 agents to each office either through the acquisitions or eventual hiring. The company’s roster of agents is currently around 120, Desiderio said.
“If it’s meant to be [and] there’s a good company out there in Southampton [or East Hampton] that’s a good fit,” then an acquisition might be in the cards, Desiderio said, adding “we don’t [buy a firm] just to gobble it up.”
Desiderio declined to comment on the dollar volume or number of deals the firm closed in the last year, but referred inquiries about deals in Westhampton Beach to Patrick Galway, managing director of that area’s office. Galway said he wasn’t immediately able to provide data as he was driving.