One Sotheby’s heads north, acquires Jack Nicklaus-owned Coastal Sotheby’s

Deal adds about 65 agents and three offices in Palm Beach Gardens, Jupiter and Stuart to One Sotheby's

Aug.August 22, 2017 10:45 AM

Kelly Martin and Daniel de la Vega

One Sotheby’s International Realty just closed on the acquisition of another brokerage, Coastal Sotheby’s International Realty, as it continues expanding north.

The deal adds about 65 agents to the Miami-based firm and three offices in Palm Beach Gardens, Jupiter and Stuart, managing broker Kelly Martin told The Real Deal. Coastal Sotheby’s sales volume totaled about $115 million last year and so far this year, about $125 million.

Owners Jack Nicklaus, Ira Fenton, Tucker Frederickson and Bob Whitley will stay on in an advisory role. They reached out to One Sotheby’s president Daniel de la Vega earlier this year to arrange the deal. “We really wanted to be able to capture more market share … and give our agents a competitive advantage in this market,” Martin said.

The firm became a Sotheby’s affiliate in 2008, according to published reports. It was previously The Bear’s Club Realty Co. and was active in the golf club community, which is home to a Jack Nicklaus Signature Golf Course. Coastal Sotheby’s is active in northern Palm Beach and Martin counties, including Jupiter and Palm Beach Gardens.

One Sotheby’s has been on an acquisition spree, buying Aventura firms One Miami Group Brokers and Turnberry International Realty this summer and Bay Harbor Islands-based Crescendo Real Estate last year. It now has 15 offices and more than 750 agents.

Competitors Brown Harris Stevens and Douglas Elliman have also been buying brokerages in South Florida.

Related Articles

André Duek and Carolina Lara with Daniel de la Vega

One Sotheby’s acquires brokerage with Brazilian reach

The Abaunza Group

Top producer at One Sotheby’s forms new team

From left: Brian Shapiro, Jo-Ann Forster, Lauren Goodkind Allan and Sande Forster Keil

Jo-Ann Forster joins Compass from One Sotheby’s

From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

(Credit: Redwood Media Group)

Developers and brokerages are getting creative for Art Basel

Daniel and Mayi de la Vega, Michael Thorpe and Kimberly Thorpe

One Sotheby’s moves into Florida’s Treasure and Space coasts

Andrea Masses and Nirka Burns

Movers & Shakers: agents join Fortune, Brown Harris Stevens, One Sotheby’s & more

The Fort Lauderdale home and Kenny Stills (Credit: ONE Sotheby’s International Realty and Getty Images)

Ex-Miami Dolphin Kenny Stills is selling his Fort Lauderdale home