Elliman launches new Madison Avenue office
Prudential Douglas Elliman recently celebrated the opening of its new office at 485 Madison Avenue. Business development, relocation and concierge services will also be based out of the 12,000-square-foot location.
Countrywide expands in NYC
As mortgage lenders across the country are beaten down by delinquencies on subprime loans and forced to go out of business, Countrywide Financial Corp. — the nation’s largest home mortgage lender — is expanding its reach in New York City. The company announced last month that it is acquiring Home Mortgage Acceptance Co., a Manhattan-based lender. The terms of the deal were not disclosed.
Nest Seekers announces LIC office
Residential brokerage Nest Seekers International is opening a high-tech boutique storefront in Long Island City. Nest Seekers will be the first Manhattan-based firm with an office in the neighborhood, according to the company. The new office will open by mid-April and will be located at 47-44 Vernon Boulevard.
Massey Knakal Brooklyn office expands into leasing
The Brooklyn office of Massey Knakal will now offer commercial leasing brokerage services in addition to commercial sales. Senior partner Timothy King is developing the leasing initiative with managing partner Brian Leary.
Blackstone to buy big mortgage unit
Amid the turmoil in the mortgage lending business, the Blackstone Group plans to buy PHH Mortgage, one of the nation’s largest mortgage providers, BusinessWeek reported. Under the terms of the deal, General Electric Co. will first buy PHH Corp. for around $1.8 billion, then sell PHH’s mortgage unit to Blackstone immediately after the acquisition closes, which is expected to be in the third quarter of 2007. PHH was spun off from Cendant in 2005. Blackstone’s recent deals include buying Equity Office Properties Trust in one of the largest buyouts in history.
Second Williamsburg office for aptsandlofts.com
Real estate sales and marketing firm aptsandlofts.com has opened its second office, at 171 Bedford Avenue in Williamsburg. The 1,200 square-foot location will have desks for 17 sales agents. The company’s first office is located two blocks away, at 496 Driggs Avenue.
GVA Williams absorbs Boston affiliate
GVA Thompson Doyle Hennessey & Stevens of Boston will merge into New York commercial brokerage GVA Williams, the firm announced in February. GVA Williams’ expanded reach will extend from New Jersey through the New England states. GVA Thompson will operate under the GVA Williams name, increasing the size of the firm to more than 225 people in eight offices.