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New York

Bond New York heads to Brooklyn

Brokerage set for borough debut with 40-agent Williamsburg office

BOND co-founders Noah Freedman and Bruno Ricciotti, and Walter Steffen, along with the Bond New York office at office on the corner of Lorimer Street and Richardson Street (Getty, Bond New York)
BOND co-founders Noah Freedman and Bruno Ricciotti, and Walter Steffen, along with the Bond New York office at office on the corner of Lorimer Street and Richardson Street (Getty, Bond New York)
By
Feb 15, 2023, 4:52 PM

Bond New York is headed to Brooklyn.

The brokerage is opening its first location in the borough on the border of the Williamsburg and Greenpoint neighborhoods, where co-founder Bruno Ricciotti said much of the company’s business unfolds.

“We do a tremendous number of sales transactions right here in North and West Brooklyn,” Ricciotti said. “We actually have even more buyer side Brooklyn business than we do in Manhattan.”

Bond plans to have 40 agents in the 1,000-square-foot office on the corner of Lorimer Street and Richardson Street. The lease term is for five years.

Walter Steffen, formerly with Corcoran, will head the brokerage’s first office in the borough. A Brooklyn native, Steffen currently oversees about 80 buildings in the area.

Bond has four other offices, located in Midtown, Upper East Side, Union Square and Upper Manhattan.

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The brokerage previously had an office in Chelsea but shuttered the location in 2019, citing “management changes.” Just three months later, the firm acquired a 56-person team from Midtown-based brokerage Caliber Associates.

The announcement follows a streak of record sales years in Brooklyn.

The borough gained momentum toward the end of 2020 as buyers flocked to more spacious options in the wake of pandemic lockdown orders. In 2021, Brooklyn’s top 10 brokerages combined for $8.8 billion in sales — more than double the sales recorded in 2020, according to The Real Deal’s ranking of residential brokerages in the borough.

The borough kicked off last year with the same unparalleled sales streak as more homes selling in the first three months of 2022 than in any quarter since 2006. High mortgage rates and low inventory has since cooled the market.

Bond didn’t crack the top 20 residential brokerages in Brooklyn in 2021, but ranked 21st among the top-producing brokerages in Manhattan with $55 million in closed sales across 71 deals. Compass took first place in Brooklyn with $2.7 billion in sell-side transactions across 2,060 deals, followed by Corcoran, with $2.69 in closed sales across 1,940 deals.

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