Joseph Aquino joins Swiss retail firm

Move comes as he wages legal battle with Douglas Elliman

TRD New York /
Jul.July 13, 2016 09:41 AM

Joseph Aquino, who was fired from Douglas Elliman after lobbing a lawsuit at the firm, is now heading to a Switzerland-based retail brokerage to head its North American operations.

Aquino is joining the Location Group to help lure luxury European retailers to the U.S., the Commercial Observer reported. The move comes a little more than a month after Aquino named his former partner, Faith Hope Consolo, in a lawsuit accusing Douglas Elliman of cutting him out of more than $1 million in commissions. The commissions, according to the lawsuit, were used to cover Consolo’s extravagant personal expenses, including spa treatments and cashmere sweaters.

When Aquino TRData LogoTINY complained about the situation, Elliman chair Howard Lorber allegedly told him to stop, warning him he would be terminated and “blackballed” in the city’s real estate industry, his lawsuit alleges. Elliman terminated Aquino in March, just two days after he filed the lawsuit against the firm.

According to his lawsuit, Aquino had a 70 percent split on his deals, while Consolo negotiated only a 65 percent split when she started at the firm in 2004. Consolo though racked up a bevy of perks, including a travel and entertainment budget that reached up to $60,000 annually, Aquino alleged in the suit. The partners had worked together since 1989. [CO]  Kathryn Brenzel


Related Articles

arrow_forward_ios

Two Elliman agents launch platform to provide renters, buyers and sellers up to $50K in unsecured loans

Jacob Sudhoff and Scott Durkin (Credit: Sudhoff Companies, Emily Assiran, iStock)

Douglas Elliman is coming to Texas

Elliman’s revenue rose 18%, after sales frenzy to avoid New York’s new transfer tax

Unrealistic pricing bogs down Miami luxury condo market: TRD Showcase & Forum

From left: RealPlus' Eric Gordon, Corcoran's Pam Liebman, Halstead's Diane Ramirez, Douglas Elliman's Howard Lorber and Brown Harris Stevens' Bess Freedman (Credit: Eric Gordon by Emily Assiran, Getty Images, Halstead, BHS, iStock)

Terra sells part of RealPlus stake to Corcoran and Elliman

The Real Deal’s E.B. Solomont receives Front Page Award

Rents increased year over year this September in Manhattan and Brooklyn to $4,336 and $3,366

Rents tick up and concessions fall amid broader economic uncertainty

The number of closed sales fell by more than 14 percent year over year in the third quarter (Credit: iStock)

Low mortgage rates are killing Manhattan’s all-cash buyer

arrow_forward_ios