Triplemint is expanding its footprint for the first time.
The brokerage officially merged with Hoboken-based Court Street Property Group in July. While Triplemint CEO David Walker declined to disclose details of the deal, he said they would be “investing heavily” in the Hudson County market.
The venture-backed brokerage, which has raised more than $17.7 million to date, develops operational technology systems in-house. One of its top brokers, Tyler Whitman, is also co-starring on the Bravo reality TV show, Million Dollar Listing New York, this season.
Court Street, the 15-agent firm Triplemint has absorbed, was previously led by its founder, agent John Scipione. He said most of his transactions occur in Hoboken, or within an hour radius of the city, with deals ranging from $500,000 to $800,000.
Scipione called the merger a “lateral move” and said the process began 18 months prior, after a mutual friend introduced him to Triplemint’s chief revenue officer Eric Barron.
Scipione said he met with other firms, but Triplemint stood out due to its marketing department and in-house lead generation platforms.
“That to me was a very unique opportunity that I wanted to be able to offer to my clients,” he said. “It was a really good marriage.”
Since the merger became official, Scipione said Triplemint’s Manhattan office has given him a handful of leads — some via the brokerage’s in-house platforms and others from Triplemint agents.
“We’re spoiled because most people move from Manhattan to New Jersey,” he continued. “We got the better end of that deal, I’ll say that.”
While Scipione said leads have been coming directly to him, he noted that they would be “divvied up” among other agents in the Hoboken office as it expands.
Walker said the Hoboken office is part of a larger strategy for Triplemint to expand into other markets. In Hudson County, Walker said they’re looking to hire more agents.
“We expect it to be a significant chunk of Triplemint’s business as we go,” said Walker.
Write to Erin Hudson at [email protected]