Business News

Douglas Elliman acquires Majestic Properties!

Historic acquisition of formally known Majestic Properties owned by Jeff Morr who became one of the most recognized, exclusive and market leaders in South Florida Luxury Real Estate, Jeff and his Elite Team of Real Estate Professionals are now part of a Global Leading Real Estate Firm namely Douglas Elliman.

Douglas Elliman is the largest residential real estate brokerage in the New York metropolitan area and the fourth largest real estate company in the nation. The company has more than 70 offices and 4,000 real estate agents.

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History and overview

Douglas Elliman was founded in 1911 as a basement store at 421 Madison Avenue in Manhattan. After years of growth the company was sold to the Milstein family (Seymour Milstein and Paul Milstein) in 1989 and then again to Insignia Financial Group (now CB Richard Ellis). In 2003 Insignia sold Douglas Elliman to Montauk Battery Realty, an affiliate of Vector Group’s New Valley LLC subsidiary.

In 2012, the company dropped “Prudential” from its name, returning to its original 1911 name. It is strategic partners with London-based Knight Frank LLP for residential business. Douglas Elliman affiliates include DE Property Management, DE Title and DE Capital Mortgage.

Dottie Herman is president and CEO of Douglas Elliman.

Its services include: residential and retail brokerage, property management, mortgage services, and title services. In 2011 the company completed over 12,000 transactions, and $11 Billion in sales volume.

Douglas Elliman New York

Douglas Elliman operates in the New York Metropolitan area, with 22 offices in New York City, 26 offices in Long Island, nine offices in the Hamptons, and six offices in Westchester. The company releases quarterly market reports and guides by borough within New York City as well as for its other metropolitan location that are often used to measure real estate activity by entities such as The New York Times and Crain’s New York Business.

Douglas Elliman Florida

Douglas Elliman operates throughout South Florida, formerly under the name Douglas Elliman Florida, but is now called Douglas Elliman like it’s New York counterpart. The company’s Miami flagship office at 1111 Lincoln Road in South Beach, is one of five South Beach offices, with five additional offices inBoca Raton, Fort Lauderdale, Miami, Palm Beach and Aventura. In September 2013, Jay Philip Parker replaced Vanessa Grout as CEO of Douglas Elliman’s Florida Brokerage.

Douglas Elliman Florida has also named former Major League Baseball player, Billy Bean, as Director of its new Sports & Entertainment Division.

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