From Wikipedia, the free encyclopedia - View original article
Douglas Elliman is the largest residential real estate brokerage in the New York metropolitan area and the fourth largest real estate company in the United States. The company has more than 70 offices and 4,000 real estate agents.
Douglas Elliman was founded in 1911 as a basement store at 421 Madison Avenue in Manhattan. 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.
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 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 in Boca Raton, Fort Lauderdale, Miami, Palm Beach and Aventura.
Douglas Elliman Florida has also named former Major League Baseball player, Billy Bean, as Director of its new Sports & Entertainment Division. In September of 2013, Douglas Elliman named Jay Phillip Parker, a Florida attorney and real estate entrepreneur, as CEO of their Florida brokerage.
Douglas Elliman contributes to a variety of charities, some of which include the American Heart Association, Central Park Conservancy, the Gold Coast Film Festival, and Big Brothers Big Sisters of New York City. Causes unique to individual brokers are also listed on the company website. In 2013, the company donated $100,000 to the Southampton Hospital Foundation.