WATCH: Veteran broker Larry Kaiser on how the biz has changed in the last 50 years

The Key Ventures founder brokered the city's first $1 million residential sale

New York /
Aug.August 24, 2016 07:00 AM

“They were the metals-kings of Bolivia,” Larry Kaiser said, pausing for dramatic effect. The Key Ventures founder was referring to the Patiño family who, in 1978, became the first buyers to spend over $1 million on a single-family home in New York City. It was Kaiser who brokered the deal at 834 Fifth Avenue.

Kaiser, who cofounded the brokerage Key Ventures in 1968, is one of the few consistent elements of the city’s ever-changing real estate market. He’s lived through shifting tastes, laws and economic cycles, and still refers to brokerage as “a profession that wraps its arms around you.”

The Real Deal sat down with the industry veteran to discuss how the business has changed during his 50-year career — and how he’s adapted to stay afloat.

“Quite frankly, these days, I don’t understand the difference between a broker and a sales agent — everyone’s a broker,” Kaiser said. “And people don’t specialize anymore. They’ll sell anything and everything.”

To hear from one of the city’s longest-standing brokers, watch the video above.

For more videos, visit The Real Deal’s YouTube page.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Pennsylvania town offers big incentive for people to fix homes
Pennsylvania town offers big incentive for people to fix homes
Pennsylvania town offers big incentive for people to fix homes
Credit Suisse Group partners with MARK on $1B-plus rental housing fund
Credit Suisse Group partners with MARK on $1B-plus rental housing fund
Credit Suisse Group partners with MARK on $1B-plus rental housing fund
London fire officials say over 1K buildings unsafe in a fire
London fire officials say over 1K buildings unsafe in a fire
London fire officials say over 1K buildings unsafe in a fire
The Centre at Purchase at 1, 2, 3, 4 Manhattanville Road with George Comfort & Sons CEO Peter Duncan (George Comfort & Sons)
Westchester office park owned by George Comfort & Sons slated for auction
Westchester office park owned by George Comfort & Sons slated for auction
Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...