Soon, Compass will be in the heart of Brooklyn’s new development boom.
The brokerage leased about 11,000 square feet at the base of the Hub, Steiner NYC’s rental tower at 333 Schermerhorn Street, Crain’s New York reported. The firm is taking a three-story space in the building and will move to the location next year.
The office is Compass’ fourth in Brooklyn, the report said. It also has locations in Cobble Hill, Park Slope and Williamsburg, according to its website. The Downtown Brooklyn outpost will house about 95 brokers and four support staff. The new space gives Compass a presence in the middle of the residential development in Downtown Brooklyn.
“What drives our decision-making ultimately is what our agents think are the best locations and the spaces they want to be in,” Rory Golod, Compass’ New York general manager, told Crain’s. “With all of the development that is happening in the neighborhood, it’s definitely a space we’re excited to be in and where our brokers want to be.”
Last month, the brokerage announced it closed a $400 million funding round, which valued the company at $4.4 billion and brought its total fund raise to $1.2 billion. The Series F was led by SoftBank’s Vision Fund and Qatar Investment Authority. Compass said the fund would help accelerate plans to control 20 percent market share in 20 U.S. cities by 2020 and double down on technology. [Crain’s] — Meenal Vamburkar