@properties acquires Christie’s International Real Estate

Brand licensing agreement expected to close Dec. 1

New York /
Nov.November 17, 2021 05:00 PM

Christie’s International Real Estate CEO Dan Conn, @properties Co-Founder Thaddeus Wong (LinkedIn, atproperties.com, iStock, Illustration by Kevin Cifuentes for The Real Deal)

Two of the biggest names in residential real estate, @properties and the far larger Christie’s International Real Estate, are joining forces.

The real estate brokerage and tech firm said on Wednesday that it entered a “long-term global brand license agreement” under which Christie’s brokerages and affiliates will be transferred to @properties on Dec. 1. The acquisition will allow the luxury broker to use technology, marketing and support platforms of @properties.

The Christie’s International Real Estate brand will remain, according to Inman, which reported the deal earlier. Its name is coming under the @properties umbrella in a 100-year lease, according to Crain’s. Other terms of the acquisition weren’t disclosed.

“@properties is excited to combine the world’s preeminent luxury real estate brand with the brokerage industry’s best technology, marketing, and operational platform,” said @properties co-CEO Thad Wong.

The acquisition comes one month after Coldwell Banker bought Warburg Realty to Coldwell Banker, a combination that will be rebranded in January as Coldwell Banker Warburg. Just last week, Douglas Elliman said it will spin itself off as a public company from parent Vector Group.

Chicago-based @properties is among the fastest-growing brokerages in the nation, accounting for 75 offices in 13 states prior to the Christie’s acquisition, Crain’s reported. The brokerage had $16.4 billion in sales volume in 2020, compared with $500 billion in the past five years for Christie’s.

Christie’s, which is associated with the legendary auction house, has about 900 global affiliate offices, all of which will be transferred to @properties. It finished 23rd in last year’s The Real Deal ranking of New York City brokerages by closed sales.

@properties made its own expansion plans clear last year by franchising its brand. The firm was founded in 2000 by Wong and Michael Golden and used in-house tech tools to expand quickly.





    Related Articles

    arrow_forward_ios
    A photo illustration of Gainesville Mayor Harvey Ward and Gainesville, Florida (Getty, Harvey Ward)
    NIMBYs triumph in Florida upzoning battle
    NIMBYs triumph in Florida upzoning battle
    25 Cactus, Irvine, CA and Albert Pujols
    Albert Pujols lists Irvine mansion for $10M
    Albert Pujols lists Irvine mansion for $10M
    Fromk left: Mauricio Umansky, Christian Ulbrich, and Scott Rechler
    They said what now? Real estate quotes of the week
    They said what now? Real estate quotes of the week
    RXR's Scott Rechler, Tamir Shemesh, Richard Meruelo, and Maria Meruelo (Getty, Serhant, Coldwell Banker)
    Breakups, layoffs and walkaways: No love in real estate last week
    Breakups, layoffs and walkaways: No love in real estate last week
    Connecticut proposal would convert empty box stores into housing
    Connecticut proposal would convert empty box stores into housing
    Connecticut proposal would convert empty box stores into housing
    (Photo Illustration by The Real Deal with Getty Images)
    The housing correction is a tale of two markets
    The housing correction is a tale of two markets
    A photo illustration of Manhattan Borough President Mark Levine (Getty, Office of Mark Levine)
    Map: Here’s a treasure trove of Manhattan resi development sites
    Map: Here’s a treasure trove of Manhattan resi development sites
    The Oppenheim Group's Jason Oppenheim (The Oppenheim Group, Getty)
    Commission suits could spell “armageddon”: Jason Oppenheim
    Commission suits could spell “armageddon”: Jason Oppenheim
    arrow_forward_ios

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

    Loading...