A Corcoran Group affiliate is ready to gym, tan, list.
Corcoran Baer & McIntosh is expanding to the Jersey Shore with the acquisition of Ocean Pointe Realtors, a 22-person brokerage. The move brings Baer & McIntosh to over 90 agents operational across six offices in southeastern New York and northern New Jersey, including Monmouth County, which encompasses part of the Jersey Shore.
Broker and owner Debbie Blankfort said Ocean Pointe Realtors approached her when they heard she was adding to her office in Red Bank, New Jersey.
“The independent boutiques can’t compete with a brand like Corcoran,” said Blankfort. “They don’t have the connections, they don’t have the marketing power, they don’t have the audience.”
Blankfort said her expansion may not be over — she’s looking to recruit another 30 to 40 agents over the coming months, and she’s in talks to buy another brokerage.
It’s not the only recent Corcoran related expansion in New Jersey:
The brokerage, which finished atop The Real Deal’s rankings of residential brokerages in Manhattan with $6.7 billion in sales, in May added a third franchise in the state when it launched Corcoran Infinity Properties. Corcoran also added an affiliate in Westchester County in February, when it bought Renwick Real Estate to launch Corcoran Legends Realty.
There are plenty of year-round residents in her markets, Blankfort said, but much of her business comes from New York City referrals. Her territory includes popular second-home areas like Nyack, New York and now the Jersey Shore, made famous by the eponymous reality TV show.
The broker also pointed to Netflix’s reported plans for a $900 million production studio project in the area. The streaming giant was chosen as the top bidder for nearly 300 acres of land about 50 miles south of New York City, formerly occupied by the Army garrison Fort Monmouth.
New Jersey’s residential market could see more activity over the coming years thanks to a new development boom. The southern edge of the Jersey Shore saw a record-breaking sale earlier this year when a home on an island off Cape May sold for $12 million.
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