Douglas Elliman buys Strickland, marking Florida west coast expansion

New York City's largest residential brokerage now has 21 offices in Sunshine State

Feb.February 05, 2019 06:30 PM

Douglas Elliman’s Jay Parker, Strickland Property Group’s Bonnie Strickland, and St. Petersburg’s skyline (Credit: Flickr) 

Douglas Elliman is making a move on Florida’s west coast.

New York City’s largest residential brokerage acquired the St. Petersburg-based Strickland Property Group.

Led by Bonnie Strickland, the brokerage has 16 agents and did more than $146 million in total sales last year. That made it one of the top firms in Pinellas County, according to Elliman’s release on the purchase.

Following the acquisition, Bonnie Strickland will become executive director of luxury sales at the company, which will be called Strickland Property Group of Douglas Elliman Real Estate. She will continue to run the sales team under the Elliman brand, according to the release. Elliman now has 21 offices in Florida.

The terms of the deal were not disclosed.

Elliman — among the largest residential brokerages in the country — and other national brokerages are expanding throughout Florida. The firms are trying to capitalize on the migration of wealthy individuals from New York and other Northeast states, looking to take advantage of Florida’s beneficial tax laws. The new federal tax law further limits the deductions for state and local taxes, meaning individuals in high-tax states in the Northeast owe more to the IRS.

Douglas Elliman has acquired small brokerages in South Florida in the past. In July, the company acquired Pink Palm Properties, a brokerage in Boca Raton. In 2016, Elliman bought Tauriello & Co. Real Estate, a Delray Beach firm led by Sue Tauriello.

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