Berkshire Hathaway HomeServices EWM Realty is making the leap to Palm Beach, The Real Deal has learned.
The Coral Gables-based brokerage opened an office on Worth Avenue, where it plans to hire agents and eventually expand, said Ron Shuffield, president and CEO of BHHS EWM Realty. The firm has 10 offices in Miami-Dade and Broward counties, according to its website.
BHHS EWM Realty signed a multi-year lease for an executive office-sized space at 205 Worth Avenue. Records show Lendan Inc. owns the office and retail building at the corner of Worth Avenue and South County Road.
The high street retail avenue is home to tenants that include Bottega Veneta, Chanel, Gucci and Tiffany & Co., and the real estate is pricey. Earlier this year, longtime landlord Burton Handelsman sold several of his retail and office properties on and off the street for $58 million.
Palm Beach’s residential market has boomed since the lockdown lifted last year, especially high-end waterfront properties. Earlier this year, an oceanfront estate traded for $123 million, setting a record for all of Florida.
Shuffield said his agents in Miami-Dade and Broward counties have been selling properties in Palm Beach, and the company has been looking for an office in the ritzy town for months.
He said he is interested in acquiring a mid-sized brokerage that’s active in the town and in neighboring markets.
“We’re looking for great new people that appreciate our culture and activity,” he said, adding that BHHS EWM plans to grow “very rapidly” in Palm Beach.
South Florida’s top firms have been expanding throughout Florida in recent years, including One Sotheby’s International Realty and Douglas Elliman. One Sotheby’s recently acquired National Realty, a Melbourne based brokerage, as it continues to grow farther north along the Space Coast.