The Real Deal New York

Shlomi Reuveni out at Town

Elaine Diratz will now lead firm's new development division solo
By Katherine Clarke | December 06, 2016 02:40PM

Elaine Diratz and Shlomi Reuveni

Shlomi Reuveni, Town Residential’s managing director of new development, has left after two years at the firm.

His departure comes less than two months after the brokerage named Elaine Diratz, an alumnus of Corcoran Sunshine and Extell Development, as co-managing director of new development.

At the time, Town CEO Andrew Heiberger attributed the additional hire to growth in the brokerage’s new development pipeline, but sources told The Real Deal that Reuveni may have felt pushed out by the addition of Diratz.

“With our appreciation for his contributions towards the success of Town New Development, the decision has been made not to renew Shlomi Reuveni’s contract,” a spokesperson for Town TRData LogoTINY said Tuesday, and added that Diratz was “a respected professional with an undisputed record of achievement and regarded expertise spanning all facets of the industry.”

Reuveni, who joined Town in April 2014 from Brown Harris Stevens, declined to comment, citing the advice of his attorney. It wasn’t clear where he would land.

Town’s development pipeline features Triangle Assets’ 37-story condo tower at 303 East 44th Street, designed by Eran Chen. The brokerage was also slated to market RGS Holdings’ 126-unit condo at 300 West 122nd Street, but that project recently fell into bankruptcy.