Real estate scion and broker to the ultra-wealthy Benjamin Benalloul is on the move.
Benalloul has joined Terra Development Marketing, the parent company of Halstead Property Development Marketing and Brown Harris Stevens Development Marketing, the company said. The 28-year-old — who previously ran two of his own brokerage firms and worked at Town Residential — will focus on luxury new development, high-end spec homes and capital advisory.
The firm said that through Benalloul, it was tapped as the east coast representative and owner’s representative for Nile Niami and Skyline Development’s The One, a spec mega-mansion in Bel Air that is expected to ask $500 million.
Benalloul has sold more than $1 billion in real estate to date, according to BHSDM.
He also represented Harvey and Phyllis Sandler, who purchased the first resale condo at One57 for $34 million in 2014. And he’s currently representing the designer Elie Tahari, who for $35 million is offering a stake in his penthouse development at 860 Fifth Avenue. In Beverly Hills, Benalloul rented the $600,000-a-month “Godfather” mansion in Beverly Hills, which is now on the market for $135 million.
Earlier in his career, he was a principal at Portman Realty, which was absorbed by Keller Williams in 2012.
In 2014, Benalloul, his father Albert Benalloul and Emir Bahadir, part of a prominent Turkish real estate family, formed RLTY NYC. But in 2016, Bahadir sued to dissolve the firm, accusing the younger Benalloul of hard partying and reckless spending. Benalloul dismissed the allegations as slanderous and the suit was settled that year.