Compass absorbs Strough Real Estate in Hamptons

Firm to open Sag Harbor office, its third in three months

TRD New York /
Jan.January 04, 2016 05:23 PM

In its quest to corner the Hamptons market, Compass absorbed the operations of Hamptons-based Strough Real Estate Brokerage and will open an office in Sag Harbor immediately.

The new outpost will be the third Hamptons location in as many months for the Manhattan-based startup, which is valued at $800 million.

Strough’s principal broker Scott Strough, who founded his eponymous firm in 1995, will join Compass along with his eight-person team.

“Sag Harbor is an important and increasingly popular sub-market in the Hamptons, and the Compass brand needed to have a presence here,” CEO Robert Reffkin said in a statement.

Compass planted a flag in the beach community of Bridgehampton this past October. Weeks later, it announced plans to open an office in East Hampton. Overall, the firm said it has $1.4 billion worth of exclusive sales listings and $2.5 billion in its new development pipeline.

Rivals, however, have fought its expansion.

Last month, Hamptons firm Saunders & Associates sued Compass and former Saunders agent Meg Salem on the grounds that Salem allegedly stole more than 11,000 listings from her former firm. Compass subsequently “parted ways” with Salem and her teammate Vanessa Bogan.

In November, Brown Harris Stevens sued former manager Ed Reale for allegedly violating his noncompete by joining Compass.

Related Articles

Softbank CEO Masayoshi Son (Credit: Getty Images)

The people left behind by SoftBank’s startups

Amenity insanity in LA luxe condo market

Amenity insanity in LA luxe condo market

Since 2012, Compass’ aggressive hiring of top agents from rival firms has stung competitors (Credit: iStock)

Has Compass eased recruiting?

Cee Scott Brown and Jack Pearson

A top Corcoran team in the Hamptons bolts for Compass

Compass CEO Robert Reffkin

Compass sweetens agent stock program for 2020

Compass CEO Robert Reffkin, CTO Joseph Sirosh, and Jaideep Ganguly (Credit: GitHub, iStock)

Compass to open tech hub in India

Compass CEO Robert Reffkin (Credit: iStock)

Robert Reffkin’s stock agreement at Compass comes to light

Compass' Robert Reffkin and Avi Dorfman (Credit: Facebook, iStock)

Compass doesn’t want a jury trial in the Avi Dorfman case