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Douglas Elliman shutters Greenwich Village outpost
Brokerage did not renew lease at 774 Broadway, terminated sales managers
Douglas Elliman’s Greenwich Village outpost is no more.
The brokerage has closed its office at 774 Broadway and terminated the sales managers at the location, sources told The Real Deal.
A representative for Elliman confirmed the firm did not renew its lease at the location, but said the brokerage maintains a “strong downtown presence” with other offices, including 111 Fifth Ave and 936 Broadway in the Flatiron District, 140 Franklin St in Tribeca and 140 Franklin St in West Village.
A description listed on the website for the 774 Broadway office says the office is home to over 100 agents. However, unlike the websites for other offices, the site only lists one agent and does not show property listings.
The office’s closure follows a strong year for Elliman.
The brokerage reported $51.2 billion in sales last year, according to an SEC filing, up from $29.1 billion in 2020 and $28.8 billion in 2019. Elliman reported a record 32,405 transactions for the year, up from 22,686 in 2020 and 23,479 in 2019.
Former parent company Vector Group announced in November Elliman was spinning off as its own entity. In December, the brokerage began trading on the New York Stock Exchange.
Elliman counted more than 4,200 agents at the end of 2021, beating out top firms like Compass and Corcoran for the largest in New York City, according to real estate intelligence platform Corofy’s 2021 brokerage report. The company claimed the top spot, but notched a slight downturn in its growth, finishing 2021 with about 2 percent fewer agents than at the beginning of the year.