Town Residential partners with the Fite Group in Palm Beach

Together, the firms have 13 offices and more than 620 agents

Miami /
Jun.June 27, 2017 05:15 PM

Town Residential is joining forces with The Fite Group Luxury Homes to tap into luxury residential buyers in Palm Beach and vice versa in New York.

The alliance comes about two years after Town partnered with Miami-based Fortune International Group.

Together, New York-based Town and the Fite Group have 13 offices and more than 620 agents, according to a press release. The Fite Group, led by founder and principal David Fite, has three offices and 100 brokers in Palm Beach, Delray Beach and Palm Beach Gardens, according to its website.

The brokerage has handled more than $3 billion in sales since 2008, and Town, led by Andrew Heiberger, has brokered more than $11.4 billion since it was founded in 2010, according to the release.

Town isn’t the first New York-based brokerage to expand into Palm Beach County. Douglas Elliman purchased Tauriello & Co. Real Estate, a Delray Beach brokerage, late last year. Brown Harris Stevens, also based in New York, acquired the Manatee Cove Realty luxury brokerage in Lake Worth.

Acquisitions, mergers and alliances are especially common during market slowdowns.

In November, Stribling & Associates of New York formed a strategic alliance with Cervera Real Estate in Miami.

And in what is likely the biggest deal of this cycle, The Keyes Company and Palm Beach Gardens-based Illustrated Properties merged last year to create the largest independently owned firm in Florida. Together, they generate more than $6 billion in annual revenue.

Fite and Heiberger were not immediately available for comment.


Related Articles

arrow_forward_ios
Matt Sellick, president, Stock Luxury Homes, in front of 916 South Ocean Boulevard (Stock Luxury Homes, Zillow, iStock)
Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Todd Michael Glaser (Photos by Sonya Revell)
The Closing: Todd Michael Glaser
The Closing: Todd Michael Glaser
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
Kobi and Nancy Karp buy Walgreens-leased property in Delray Beach
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
Private equity honcho buys renovated Palm Beach mansion for $36M
Private equity honcho buys renovated Palm Beach mansion for $36M
Private equity honcho buys renovated Palm Beach mansion for $36M
1700 S Ocean Blvd, Palm Beach (Realtor)
Oceanfront Palm Beach spec mansion sells for $41M
Oceanfront Palm Beach spec mansion sells for $41M
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
Now streaming: TRD’s podcast Deconstruct on what’s next for Surfside
arrow_forward_ios

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

Loading...