Coldwell Banker Warburg and Reuveni Real Estate are joining forces.
Under the partnership, Reuveni Real Estate will become Reuveni LLC to operate as a separate line of business from Coldwell Banker Warburg, focused on brokerage, sales and marketing of new development projects.
Coldwell Banker Warburg will manage Reuveni’s resale and leasing business, while founder, president and CEO Shlomi Reuveni will help its new partner’s agent recruitment. The two brands will collaborate on business development strategies, marketing, public relations, branding and social media initiatives.
“The way we look at it, no, Reuveni is not becoming part of Coldwell Banker Warburg, but we are now going to be moving forward as allied brands who will consider each other the same family,” Coldwell Banker Warburg president Frederick Peters said.
Reuveni said he anticipates an influx of brokers from the alliance, which Peters said will grow Coldwell Banker Warburg’s local brand awareness.
“We’re going to take care of the fact it’s not as known in New York,” Peters said.
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The companies said the venture will give Coldwell Banker Warburg greater access to the new development sector — Reuveni’s specialty — and its new partner will gain access to the firm’s international reach. Along with the technical assets, both boutique firms said their emphasis on personal relationships — not technology — makes them a good fit.
“The industry has begun to return to that interest in relationships again, rather than interest in size,” Peters said. “So I feel like we’re doing this at the perfect time to poise ourselves to take advantage of that.”
The partnership comes six months after Peters sold Warburg Realty to Coldwell Banker after 30 years of business as an independent brokerage. The Real Deal ranked it as the sixth largest firm in Manhattan by sales-side volume last year, with $343 million in sales. Reuveni, which was founded in 2017, last year tied for TRD’s 13th largest Manhattan brokerage with $189 million in sales.
The partnership is the culmination of a five-year friendship between Reuveni and Peters, who said they have been planning to work together ever since they met for breakfast and immediately hit it off.
“That famous breakfast five years ago was almost like an awakening,” Reuveni said. “I had to find a way to work with Fred.”