Douglas Elliman is teaming up with real estate firm Williamson, Picket, Gross Inc. to form a new commercial division.
Douglas Elliman — best known for its residential deals, even though the brokerage has done commercial work — will form Douglas Elliman Commercial, which will focus on office and retail deals, according to the New York Post.
Jim Gross, who is the founder of WPG, will head up the division together with his son Peter Gross and Elliman agent Louis Puopolo. Lin Media and Soho House Group are among WPG’s clients and the firm brokered Extell Development’s sale of 305 East 46th Street, according to the Post.
Douglas Elliman Chair Howard Lorber told the Post that the new division will “expand our full-service real estate capabilities in the national arena.”
Elliman’s Dana Commercial Group and the brokerage’s retail team are not part of the new division. [NYP, 2nd] — Claire Moses