NRT acquires New York brokerage

NRT Inc., a Cendant subsidiary, recently announced the acquisition of East-Brook Realty Inc. in East Hills, N.Y.

The firm will now do business as the NRT-owned Coldwell Banker Residential Brokerage on Long Island.

The move deepens Coldwell Banker Residential Brokerage's already major presence within Long Island's North Shore, where East-Brook Realty's average home sales price is nearly $1 million.

East-Brook Realty was founded in 1977 by its president, Aileen Murstein. Murstein will continue to oversee the 42 sales associates in the East Hills office as the East Hills managing broker for Coldwell Banker Residential Brokerage on Long Island. The office will manage the Coldwell Banker Previews International marketing program in Roslyn, Old Westbury, Manhasset Hills, North Hills and the Brookvilles.

With this announcement, Coldwell Banker Residential Brokerage on Long Island includes 27 offices and 1,100 sales associates who accounted for $2 billion dollars in closed sales volume in 2003, according to a company statement. On a combined basis, Coldwell Banker Residential Brokerage on Long Island and East-Brook Realty closed more than 5,800 transaction sides in 2003.

NRT Inc. has more than 900 offices and 52,000 sales associates operating in more than 30 of the nation's largest metropolitan markets.

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