Core Development now Guberman Group

Sep.September 02, 2011 03:17 PM

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Josh Guberman
Core Development Group CEO Josh Guberman and Shaun Osher, founder of the brokerage Core, have a running, if obvious, joke: Who used the “Core” moniker first?

The banter started several years ago, while the two were working together on Guberman’s last Manhattan development, Lux 74. But the joke has become less funny recently as the confusion between the two firms has grown. So Guberman, who will soon be marketing a new Hamptons project, has changed his company’s name to the Guberman Group.

“Shaun runs a marketing brand, and I build buildings,” said Guberman, who has been a developer in New York City for 15 years. He said he initially chose the name “Core” because he liked its strong connotation, but with both firms working hard to build their brands, the confusion was getting in the way.

For now, the name will only apply to Guberman’s Hamptons ventures, but the New York City division will likely make the switch as well. Core Management, which manages the development arm’s buildings, will keep its name for the foreseeable future.

Until now, Guberman has been known primarily as a Manhattan developer, but as The Real Deal reported, he’s recently gotten involved in Hamptons development. One of his projects, a farmhouse on Day Lily Lane in Bridgehampton, is slated to hit the market this fall. Guberman said he expects to acquire several more projects and open a small office in Southampton Village by year’s end.

Osher declined to comment.

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