Fresh off raising $370 million in its latest funding round, Compass has opened a new office in Brooklyn and doubled the size of its Upper West Side location, bringing its total office count across the city to 13.
The new office, which opened Monday, is a 6,340 square-foot space located at 1328 Fulton Street in Bedford–Stuyvesant, where top brokers including the DuPree Team and the Werde Ettelson Team will be based. (Ironically, the Corcoran Group handles rental leasing at the property.)
The Upper West Side office, on the first floor and part of the second floor of the Laureate at 2150 Broadway, will now take over the entire second floor of the building as well one its first-floor storefronts, previously occupied by Duane Read. A representative for the brokerage said the office had grown 88 percent in the past 15 months, and now had 132 agents.
Compass is growing its presence in Brooklyn at a time when rents in the area are reaching record highs. According to a representative, Compass has increased its overall headcount in the borough by 20 percent in 2019.
“We are proud to continue to see exponential growth in Brooklyn, the Upper West Side and across the markets we serve,” Rory Golod, regional president of the firm’s New York region said in a statement.
Founded in 2012, Compass is now valued at $6.4 billion, and its latest funding round triggered further speculation about when it might go public.
In a July interview with CNBC, Compass CEO Robert Reffkin said a public offering was “likely,” but said the brokerage was “fortunate, given our capital base, that we have flexibility in timing.”