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.