The Real Deal Miami

Who really owns NYC’s real estate firms?

In city brokerages, a look at who controls the purse strings, from family firms to corporate parents
By Katherine Clarke | February 11, 2013 10:00AM

From the February issue: 
Douglas Elliman chairman Howard Lorber, whose Vector Group owns about 50 percent of the firm
To outsiders, it may be hard to distinguish between New York City’s big real estate firms. But behind the scenes, even firms of similar sizes and reputations can have vastly different ownership structures. Many of the city’s residential brokerages, for example, have long been privately owned by families. Others have large, publicly traded corporate parents. Still other owners have silent parents, or offer their brokers the opportunity to own a piece of the firm. [more]