Elliman’s Kotler Team Disbands, Longtime Exec Exits

Douglas Elliman’s former Western region CEO, Stephen Kotler, has departed the brokerage after 34 years.

His son Max, who is a broker, announced on Instagram he was joining the Corcoran Group’s New York office in what he dubbed the Kotler Team’s “next chapter.”

Meanwhile, Stephen’s presence has been scrubbed from Elliman’s website. A spokesperson for Corcoran confirmed the longtime executive is not joining the brokerage, but said the firm is “happy to welcome” Max to its Park Avenue South office.

“Max joins us as an individual agent with plans to build a dedicated team that will allow him to provide even greater support to his clients,” the spokesperson said.

Remaining at Elliman is Stephen’s brother, Michael Kotler, and his seven-person group as the Michael Kotler Team. Based in New York, the team has a self-described focus on high-end sales, rental and relocation services.

“We wish Max Kotler well in his new venture and are grateful to Michael Kotler and his seven-person team for their loyalty to Douglas Elliman as we continue to evolve our firm as the most trusted luxury brokerage in the world,” a spokesperson for the firm said in a statement provided to The Real Deal.

Max, reached Thursday by phone, declined to comment. Michael and a spokesperson for Stephen did not immediately respond to a request for comment.

Stephen’s departure ends a multi-decade tenure at Elliman. After joining the firm in 1991, he was credited with establishing and then rapidly expanding the brokerage’s footprint in the West, beginning with Aspen and Los Angeles and growing to include Texas and Nevada. Elliman’s Western region headcount then ballooned overnight with the acquisition of Teles Properties in 2017, adding 21 offices and more than 600 agents in California.

Kotler stepped down as regional CEO in February. In the months leading up to his departure, he was in negotiations for either a new role at the firm or an exit, people with knowledge of the matter told TRD. The company said in an internal memo at the time that he was leaving the top post to join Michael and Max in what was then called the Kotler Team in New York City.

The two brothers established the group together in 1997, according to Michael’s online bio.

Elliman underwent a series of executive shuffles beginning with longtime chairman and CEO Howard Lorber’s abrupt retirement in October. Shortly after Lorber’s exit, which was later reported to be under pressure from the board, Elliman terminated brokerage CEO Scott Durkin. In December, Executive Vice President and COO Richard Lampen announced his retirement, but said he would remain on the board.