Keller Williams leaves Tribeca for office at 99 Park

Previous office was owned by firm’s prior owners, Ilan Bracha and Haim Binstock

TRD New York /
Jul.July 20, 2020 12:00 PM
Keller Williams CEO Mark Chin and 99 Park Avenue (Google Maps)

Keller Williams CEO Mark Chin and 99 Park Avenue (Google Maps)

Keller Williams New York City is moving its offices uptown, closing a turbulent chapter for the franchise brokerage.

The residential firm said it will occupy more than 20,000 square feet at 99 Park Avenue in Midtown. Previously, it had around 15,000 square feet at 379 Broadway in Tribeca, which was owned by the brokerage’s prior owners, Ilan Bracha and Haim Binstock.

In a statement, KWNYC said the new, larger space will be able to accommodate the firm’s 350 agents and staff in a socially distant manner.

“The new headquarters is a massive upgrade in quality, while at the same time providing a central location for our agents,” CEO Mark Chin said.

Bracha and Binstock opened the first Keller Williams in Midtown in 2011, adding a Tribeca outpost in 2015. By 2018, they had a combined 800 agents, but after growing too big too fast, the franchise ran into financial trouble that year. As part of a belt-tightening, they closed its original office at 1155 Avenue of the Americas. In February, Bracha and Binstock finalized a deal to sell the business to Rich Amato, who consolidated the Midtown and Tribeca outposts.

The combined firm was operating out of the Tribeca location, owned by Bracha and Binstock’s B+B Capital. The brokerage paid annual rent of $900,000.

At 99 Park, KWNYC said it signed a 3.5-year sublease with Gould Paper Corp., which leased the space from owner Eyal Ofer’s Global Holdings. Keller Williams’ Edward Kalisvaart represented the brokerage on the deal, while Gould was represented by Kent Swig, Andrew Simon and Brett Zelner of Helmsley Spear, the building’s property manager. The asking rent was $52 per square foot.


Related Articles

arrow_forward_ios
Gary Keller (iStock, Courtesy of Keller Williams)

Keller Williams reports 15% drop in sales in Q2

Keller Williams reports 15% drop in sales in Q2
Seth Campbell (iStock)

Keller Williams to cut ties with top franchise owner following sexual harassment allegations

Keller Williams to cut ties with top franchise owner following sexual harassment allegations
Ilan Bracha, Haim Binstock and 39 East 72nd Street (Getty, Elliman)

Vanderbilt mansion condo conversion in foreclosure

Vanderbilt mansion condo conversion in foreclosure
Keller Williams CEO Gary Keller and Offerpad CEO Brian Blair

iBreakup: Keller Williams, Offerpad part ways on home-buying partnership

iBreakup: Keller Williams, Offerpad part ways on home-buying partnership
Offerpad CEO Brian Bair (Credit: iStock; Offerpad)

Offerpad debuts home-listing service

Offerpad debuts home-listing service
Whose sale is it anyway? Keller Williams targets former top agent for advertising past deals

Whose sale is it anyway? Keller Williams targets former top agent for advertising past deals

Whose sale is it anyway? Keller Williams targets former top agent for advertising past deals
Gary Keller (Credit: Keller Williams)

Keller Williams reports strong quarter but slowdown looms

Keller Williams reports strong quarter but slowdown looms
Glenn Sanford (Credit: Twitter, Pixabay)

Virtual brokerage eXp sees first profitable quarter

Virtual brokerage eXp sees first profitable quarter
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...