Compass to open new office in Cobble Hill

Resi brokerage will now have 50 agents specializing in BK across three offices

TRD New York /
Nov.November 03, 2016 01:55 PM

Court Street’s transformation into a chichi shopping destination for Brooklyn’s affluent has been well documented. But this deal takes the cake.

Venture capital-backed residential brokerage Compass is taking over a space formerly occupied by one of Cobble Hill’s most beloved Bohemian shops, the Community Bookstore, which closed in April after more than 30 years, the company told told The Real Deal.

The 1,600-square-foot space, on the ground floor of a three-story brownstone at 212 Court Street, will serve as the three-year-old firm’s third Brooklyn office, accommodating about 20 agents. The new Compass office is within two blocks of the offices of Compass’ TRData LogoTINY competitors Douglas Elliman and Ideal Properties Group on Court Street.

The space is slated to open in early 2017. It will be managed by Patrick Brennan, who also heads the firm’s Williamsburg and Park Slope locations.

Compass declined to comment on the terms of the lease. A recent report by the Real Estate Board of New York found that rents along the Court Street corridor between Atlantic Avenue and Carroll Street were some of the priciest in the borough, averaging around $162 per square foot.

The brokerage, headed by Robert Reffkin and Ori Allon, now has 50 agents specializing in Brooklyn sales.

The famed Community Bookstore was once filled with stacks of old books and vintage records, which spilled out onto the sidewalk. The bookstore’s owner John Scioli sold the building for $5.5 million last year to Baruch College professor and real estate investor Dr. David Sitt (who is not related to members of Thor Equities or Sitt Asset Management).


Related Articles

arrow_forward_ios
Adam Neumann and 78 Irving Place (Credit: Getty Images and StreetEasy)

Adam Neumann looks to sell Gramercy penthouse

1 John Street and 74 Devoe Street in Brooklyn (Credit: StreetEasy)

Ten months, 10% below asking: Dumbo condo leads Brooklyn sales

Compass CEO Robert Reffkin and Realogy CEO Ryan Schneider (Credit: Columbia and iStock)

Compass to Realogy: You can’t sue us

Residential agents are uniquely positioned to assist buyers who are in the in-between phase (Credit: iStock)

Why Compass, @properties and tech startups are diving into bridge loans

The Daily Digest - Tuesday

Zillow president to step down, Compass buys AI startup

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?

arrow_forward_ios