Just weeks after opening its first East End office, Compass has announced it’s set to open another.
Behind the story:
The residential brokerage will take 3,000 square feet at 53 Main Street in East Hampton. The company plans to open the office for business in January 2016, according to a news release.
The freestanding two-story building with a finished basement was recently home to a Tiffany & Co. location.
The firm also announced it was hiring broker Evan Kulman, who is leaving the Corcoran Group’s Hamptons operation.
Compass opened its first Hamptons office earlier this month at 2405 Main Street in Bridgehampton. That space was previously home to a Corcoran office. Corcoran – the Hamptons’ top brokerage according to TRD’s rankings, published in June – sued Compass earlier this year for “brazenly” poaching the brokerage’s talent. The two firms settled the suit in August.
Prices in the Hamptons have been rising rapidly, with the average sale price in the second quarter rising to $1.6 million, up 2.5 percent from a year earlier, according to a market report published by Douglas Elliman and appraisal firm Miller Samuel.
Compass is also expanding in Brooklyn, where it recently opened its second office, at 136 North 10th Street in Williamsburg.