After nearly 33 years, Frederick Warburg Peters’ time atop the New York City real estate firm he founded in 1991 has come to an end.
Peters will become president emeritus in January, when Coldwell Banker Warburg’s chief operating officer will assume the brokerage’s top position in January. Kevelyn Guzman, a 16-year veteran of the firm will take on the title of regional vice president.
“I will be on call for Kevelyn as she charts the exciting path she has laid out for Coldwell Banker Warburg going forward,” Peters said in a statement on his new role. “I’ll continue representing the company on the Executive Committee of REBNY, assisting agents with deal-related issues, and offering ongoing support in every way possible.”
It’s the second major transition for Coldwell Banker Warburg in the last three years. The firm, which Peters founded by buying the New York City residential business of Albert B. Ashforth, was known as Warburg Realty until 2021. It then sold to Coldwell Banker as part of a series of independent brokerage sales in the city. Peters said at the time the sale allowed him to give agents more support.
The firm he built is a mainstay on The Real Deal’s rankings of Manhattan’s top residential brokerages, finishing eighth last year with $305 million in on-market, sell-side volume.
Guzman’s career began on Wall Street with Meridian Capital, before landing at a real estate brokerage called Outside Ventures. After the firm failed during the 2008 financial crisis, Guzman followed two brokers to Warburg Realty, where she helped lead an overhaul of the company’s technology infrastructure. More recently, she helped lead the company through its acquisition by Coldwell Banker.
“The biggest challenge was going from having full autonomy to now having to explain every single thing to corporate and needing their approval,” she said. “I think that was my biggest accomplishment: getting to the point where we are today, where we’re running like a well-oiled machine.”
Guzman, who has had her real estate license for over a decade, created the firm’s agent development program and helps agents strategize before big pitches and assembling board packages.
The initiatives planned for her first year include traveling to other regional Coldwell Banker offices to shore up connections and strengthen referral networks. Guzman also serves as head of the New York City chapter of “What Moves Her,” a campaign created by Susan Yannaccone, the president and CEO of Anywhere brands.
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Correction: An earlier version of this article incorrectly said Guzman will report directly to Susan Yannaccone, the president and CEO of Anywhere brands, in her new role. The article has also been updated to clarify the terms of Peters’ acquisition of Albert B. Ashforth’s NYC residential brokerage business.