The Real Deal New York

Portman Realty acquired by Florida-based brokerage

Ben Benalloul to serve as VP at Piquet; second time firm's been picked up in two years
By Katherine Clarke | April 10, 2014 11:38AM

Portman Realty, the brokerage arm of real estate company the Portman Group, which is headed by 24-year-old Ben Benalloul, has been acquired by Florida-based Piquet Realty, The Real Deal has learned.

The price paid by Piquet, which has ties to the Brazilian investor community, was not disclosed. Benalloul, who made headlines in recent years for his close relationship with “Real Housewives of New York” star Sonja Morgan, will serve as vice president of Piquet. Cristiano Piquet, who founded the firm in 2008, remains president and CEO.

Piquet is also picking up Portman Realty Management in the deal, which has been in contract for three months. That unit manages more than 1 million square feet in New York.

Piquet has offices in Miami and Orlando and links to Miami law firm Piquet.

Benalloul, who will hop between Florida and New York for business, brings 30 agents and a co-exclusive on billionaire Alexander Rovt’s $25 million Upper East Side home with him to the firm. The townhouse is co-listed by the Alexander team at Douglas Elliman.

“Portman Realty’s exclusive listings in both the residential and commercial space of New York will greatly enhance the Piquet brand in a very important market,” Piquet said in a statement. “With [Benalloul’s] relationships to the who’s who of Manhattan, he makes a great addition to the Piquet team.”

The deal marks the second time Portman has been acquired in two years. Portman made a one-year deal to be absorbed by brokerage Keller Williams NYC in 2012. That agreement ended last June.