Big Manhattan broker closing its doors

Flickr photo by Seamus Murray.

Manhattan brokerage Coldwell Banker Hunt Kennedy has closed its doors, with about 90 percent of its 200 agents moving to Corcoran Group Inc. and Sotheby's International Realty Inc., company co-founder and Chief Executive Officer David Michonski said.

Michonski said the brokerage -- which has roots in Manhattan going back more than 20 years -- was a casualty of the financial industry meltdown. Coldwell Banker Hunt Kennedy saw the $22 million in revenue generated in 2007 decline by 35 percent last year, and another 50 percent this year, he said.

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.