Douglas Elliman closed on the acquisition of a boutique brokerage in Manalapan, as the New York firm continues expanding throughout Florida.
Scott Gordon Realty, led by Scott Gordon and his wife, Mindy Gordon, will keep their office at 270 South Ocean Boulevard. The acquisition includes 12 agents and two office employees.
Elliman, with 22 offices and about 1,100 agents in Florida, recently expanded to the state’s west coast with the acquisition of St. Petersburg-based Strickland Property Group, one of the top firms in the Tampa area.
Scott Gordon, founder and CEO of his firm, is now an executive director of luxury sales at Elliman.
Manalapan, a small town south of Palm Beach, has landed itself on the Forbes list of most expensive zip codes, taking the No. 1 spot in 2016. Sellers of multimillion-dollar homes, many of which stretch from the ocean to the Intracoastal, have been forced to reduce their prices, spurring sales as of late.
With the acquisition, Elliman plans to increase sales near Manalapan in Palm Beach, Delray Beach, Hypoluxo and West Palm Beach, according to a press release. Scott Gordon Realty closed about $70 million in sales volume in 2018, most of which was condo sales, according to a spokesperson. Elliman declined to comment on terms of the acquisition.
In Palm Beach County, Elliman also acquired Pink Palm Properties, a brokerage in Boca Raton, in July. About three years ago, Elliman bought Tauriello & Co. Real Estate, a Delray Beach firm led by Sue Tauriello.