Will Elliman’s spending spree pay off?

The mega firm is pouring ‘tens of millions’ into an unprecedented marketing and national expansion effort as pushes into a handful of wealthy U.S. cities

TRD MIAMI /
Feb.February 02, 2016 01:30 PM

From the New York February issueTaylor Swift, Ben Stiller, supermodel Kate Upton and, of course, Spike Lee have all had courtside seats for the New York Knicks this season to bear witness to the 7-foot-tall Latvian rookie sensation Kristaps Porzingis sinking shots.

And on many game nights, Howard Lorber, the 67-year-old chairman of the mega brokerage Douglas Elliman, can be found next to that “Celebrity Row” stretch, sitting directly below the hoop.

That’s because last year, Elliman entered into a multi-year sponsorship deal with Madison Square Garden for the right to slap its grey-and-blue logo on an entire row of courtside seats at the arena. The deal also gives Elliman exclusive branding rights for the VIP lounge and a presence on the Knicks’ website, showcasing pictures of celebrities in “Elliman’s row,” where tickets typically go for upwards of $5,000 a pop.

Elliman declined to comment on the dollar value of the deal, but sources pegged it at several million dollars a year.

While the MSG deal might be considered a bold move on its own, it’s just one piece of a new marketing push by Elliman, which in the last two years has aggressively expanded into some of the wealthiest markets in the U.S., including Aspen, Los Angeles and Greenwich. [more]


Related Articles

arrow_forward_ios
One Thousand Museum and Porsche Designer Tower (Porsche)

Douglas Elliman agent allegedly created scheme to pocket commission advances: lawsuit

Douglas Elliman agent allegedly created scheme to pocket commission advances: lawsuit
Howard Lorber and 1525 North View Drive

Howard Lorber buys waterfront Sunset Islands home for $12M

Howard Lorber buys waterfront Sunset Islands home for $12M
Howard Lorber, and Jay Parker, with 801 Brickell Avenue

Douglas Elliman is closing three South Florida offices

Douglas Elliman is closing three South Florida offices
Palm Beach skyline (Credit: iStock)

Fewer homes hit the market in Q1: Elliman

Fewer homes hit the market in Q1: Elliman
Jay Parker with a rendering of Forte (Credit: Two Roads Development/Alpha Blue Ventures)

Boutique condo project in West Palm Beach launches sales

Boutique condo project in West Palm Beach launches sales
Cheyenne Lutek (Credit: Miami-Dade County Dept. of Corrections, iStock)

NY real estate agent arrested during SOBEWFF

NY real estate agent arrested during SOBEWFF
From left: Mick Duchon, Eloy Carmenate, Tara West, Alex Sapir, Oren Alexander, Jay Philip Parker, Dean Bloch

Movers & Shakers: Sapir announces sales team for Surfside project, Franklin Street taps retail head & more

Movers & Shakers: Sapir announces sales team for Surfside project, Franklin Street taps retail head & more
Jay Parker and a rendering of CocoWalk

Douglas Elliman, Bluemercury among new tenants at CocoWalk

Douglas Elliman, Bluemercury among new tenants at CocoWalk
arrow_forward_ios

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

Loading...